4 ms·
Here is the thing though - it's not just a "few extra points". By my calculation its 13.3% more living in California in state income tax savings alone. That is
by misiti3780 6y ago
Here is the thing though - it's not just a "few extra points".
By my calculation its 13.3% more living in California in state income tax savings alone. That is a huge amount of money for Elon, but is also a huge amount of money for people working on a SV salary. It could be more than a mortgage payment. There are probably additional savings with less regulation etc
California is not a state anyone should want to do business in in 2020.
- ohazi 6y ago> for people working on a SV salary Most Californians don't get to keep their SV salary when they move to Texas.
- misiti3780 6y agoWhat data are you basing that on - Austin is not cheap, and it's probably getting a lot more expensive now that everyone is moving there.
- pchristensen 6y agoI looked at Austin a few years ago, and after seeing the salaries I could find vs the cost of housing for 5 in a highly rated school district, I didn't even apply anywhere.
- bayesbot 6y agoI'm guessing it's a good option if you already have a good amount of home equity from a higher paying area though.
- reducesuffering 6y agoThat's a disingenuous representation of how much extra state income taxes are paid. 13.3% is the rate for single income above $1,000,0000. A richly paid SV worker making $500k single pays 8.75% to the state of CA effectively.[0] [0] https://smartasset.com/taxes/california-tax-calculator#6NtLsojWoj https://smartasset.com/taxes/california-tax-calculator#6NtLs...
- misiti3780 6y agoFair, then maybe we can agree on the following: "If your household income is > 1MM and you live in California, it is not surprising that you would want to leave"
- sonotmyname 6y agoWe're talking about Elon Musk here - effectively all of his income is going to be at the 13.3% rate