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What percentage of your income goes to taxes? In the EU almost half of your income would be withheld for different taxes, and depending on the country, you woul
by dessant 7y ago
What percentage of your income goes to taxes? In the EU almost half of your income would be withheld for different taxes, and depending on the country, you would also get absymal health care, with a system that forces you to pay out of pocket, after a part of your salary was already taken to pay for universal health care.
- KorematsuFred 7y agoCompared to EU California is indeed a heaven. Not kidding. Half of the startups in SV for example will not even bother to start given EU regulatory compliance.
- Jommi 7y agoIs this some kind of sarcasm? What kind of compliance are you talking about?
- aidenn0 7y agoAbout 1/3 of your salary goes to taxes as a CA resident making 6 figures. In addition there are payroll taxes, but those are taken out before you salary; not sure if the EU does things like that. Note that in the US, Government expenditures on healthcare are higher than in the average EU country, yet a much smaller fraction of the population get government provided healthcare.
- ac29 7y agoThe top tax bracket in CA would require you to make well over $1M for a married couple: a rate of 37% federal + 13.3% state. But depending on your definition of "almost half", this could be much lower - a combined rate of 41.3% starts at about $325k for a couple. These are income taxes only, mandatory medicare and social security taxes add a bit more.
- deleted 7y ago[deleted]
- aidenn0 7y agoThose are marginal rates though. A couple making $325k would pay about $98k per year in taxes.
- shitsucka 7y agoMy effective federal+state rate in CA is 38%, not including the 9% sales tax.