5 ms·

Probably not federal, but I pay that much in state and federal combined. It’s believable for a tech worker in ca.

• sundaeofshock 5y ago
  I’m a tech worker in California, and my effective tax rate is nowhere near 50%. I suggest you get a better accountant.
  • nostromo 5y ago
    There are a lot more taxes than just income tax. Property tax, sales tax, car tabs, usage fees, gas tax, sin taxes, etc. These all add up, and depending on your lifestyle can easily go well above 50% in California. (The highest federal + California tax rate is already around 50%.)
    • sundaeofshock 5y ago
      My wife and I are high income earners in the state of California. Looking at our 2019 tax returns, I see our effective tax rate was 29%. Property taxes were 4.5%. So, together a smidge below 34%. To get to a 50% tax burden, the remaining 66% of our income would have been taxed at a ~24% rate. Of course that didn't happen since we spent on things like our 401(k) and food (both of which are not taxed), plus our cash savings. I stand by my statement that any high-income earner paying 50%+ in taxes needs to get a better accountant.