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For comparison, in California if you're making $1m W-2 income, you'll lose $470k to total taxes (Federal+State+FICA). The difference is not that huge. The diffe
by renewiltord 3y ago
For comparison, in California if you're making $1m W-2 income, you'll lose $470k to total taxes (Federal+State+FICA). The difference is not that huge. The difference is what you get for that 47%. Go higher and there's a 1% extra mental health services tax.
- jeffbee 3y agoIs this including federal? State income taxes are nowhere near that high in California.
- renewiltord 3y agoYes, edited to clarify.