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What world are you living in where 500k/year isn’t wealthy?

• unstatusthequo 4y ago
  For two people. A world called California (which we left for Florida) with 39% top fed tax rate, something like 14% state/city/block tax, high property tax, high sales tax, etc. Am I the only one here who thinks sending off a huge portion of what I make is not really worth it? California was nice. But it’s not worth working another 5-10 years for the privilege. Don’t worry I’ll come back to California in 15 years when I have zero income and only property. If there’s water left.
  • metadat 4y ago
    You sound privileged, greedy, ungrateful, and out of touch with reality. Without society and government, you can expect fewer opportunities to prosper and live a nice, comfy, insulated little life.
  • solardev 4y ago
    I'm so sorry you had to buy one fewer yacht this year.
  • medvezhenok 4y ago
    For a couple making 500K and maxing out their 401Ks, the effective tax rate (state+federal) is 24% in Florida and 31.2% in San Francisco, CA. Which results in post tax (and post 401K) incomes of 340K (FL) and 305K (SF), or around a 10% difference in post-tax salary. You can verify this yourself on SmartAsset: https://smartasset.com/taxes/income-taxes https://smartasset.com/taxes/income-taxes