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> High earners pay an effective tax rate of > 50% How so? I put a salary of $300k in SF here, and came up with 38%: https://smartasset.com/taxes/california-tax

by notJim 5y ago

> High earners pay an effective tax rate of > 50% How so? I put a salary of $300k in SF here, and came up with 38%: https://smartasset.com/taxes/california-tax-calculator#c0piTTkcUJ https://smartasset.com/taxes/california-tax-calculator#c0piT.... Obviously Fremont workers do not need to live in SF.

hytdstd 5y ago
From that calculator, it seems that you need to be making $2.3M in Fremont, CA to get to 50%.
Epenthesis 5y ago
Put in 3 M$/yr and you'll get 50.7%. Not a lot of people hitting that regularly, but I imagine it can sting a little if you've got a more proletarian salary normally and are hitting that region just once because of say, a start up liquidity windfall
- redisman 5y ago
  Worlds smallest violin
pvarangot 5y ago
I payed >50% for two years but I was above 400k. Honestly, coming from a third world country where I got taxed more and having had to work in Austin and Atlanta before on previous jobs, taxes are the least of my complains for California. Yeah they should fix property taxes... but my main complaint is that even though all politicians like speaking a mouthful about helping the poor and how broken healthcare is, every single government program that's supposed to help the mentally ill is utterly and completely broken beyond belief. And I'm saying this coming from Argentina that as a country has around the same population and way less GDP. Literally the only thing about California that doesn't feel "first wordly" as all the nice places in Europe I've been to is how it deals with people that need mental health or that have housing issues. I tried discussing this with every other politician I meet or something but besides condescending smiles because of the perceived trauma they think growing up in Latin America caused (it didn't) I never get any iota of acknowledgement that something in the world is wrong. Except for the Republicans, which is the only problem in the US, apparently.
- yeaman1231 5y ago
  I feel you, swap out Latin America for Middle East and Argentina for Iraq and thats been my experience here
smnrchrds 5y ago
I think they mean all taxes, including property tax, which you may pay directly as a homeowner or indirectly as a tenant.

by notJim 5y ago

hytdstd 5y ago

From that calculator, it seems that you need to be making $2.3M in Fremont, CA to get to 50%.

Epenthesis 5y ago

Put in 3 M$/yr and you'll get 50.7%. Not a lot of people hitting that regularly, but I imagine it can sting a little if you've got a more proletarian salary normally and are hitting that region just once because of say, a start up liquidity windfall

redisman 5y ago
Worlds smallest violin

pvarangot 5y ago

I payed >50% for two years but I was above 400k. Honestly, coming from a third world country where I got taxed more and having had to work in Austin and Atlanta before on previous jobs, taxes are the least of my complains for California. Yeah they should fix property taxes... but my main complaint is that even though all politicians like speaking a mouthful about helping the poor and how broken healthcare is, every single government program that's supposed to help the mentally ill is utterly and completely broken beyond belief. And I'm saying this coming from Argentina that as a country has around the same population and way less GDP. Literally the only thing about California that doesn't feel "first wordly" as all the nice places in Europe I've been to is how it deals with people that need mental health or that have housing issues. I tried discussing this with every other politician I meet or something but besides condescending smiles because of the perceived trauma they think growing up in Latin America caused (it didn't) I never get any iota of acknowledgement that something in the world is wrong. Except for the Republicans, which is the only problem in the US, apparently.

yeaman1231 5y ago
I feel you, swap out Latin America for Middle East and Argentina for Iraq and thats been my experience here

smnrchrds 5y ago

I think they mean all taxes, including property tax, which you may pay directly as a homeowner or indirectly as a tenant.