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> The combined state and federal rate is not >50% either, and any calculator that claims otherwise is lying. Why are you so confident here? The top CA marginal
by usaar333 7y ago
> The combined state and federal rate is not >50% either, and any calculator that claims otherwise is lying.
Why are you so confident here? The top CA marginal rate is 13.3%. Top federal marginal rate is 37%. Medicare tax is 1.45%. simple addition gives a top marginal rate for wage income of 51.75%. I have no idea how your accountant can get that lower.
- gamblor956 7y agoThe top marginal rate in California is 12.3%. The 1% is a separate levy, so if your take that into account you have to do the same for your comparison rates. And then you find that your tax burden in Texas ends up being close to the same as it was in California, but your taxes in Texas don't get you any public services.
- dmode 7y agoSee my reply above