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> Unfortunately housing prices are rising so fast that saving for years doesn't necessarily get you there Where? In many, many highly developed countries this
by throwaway2037 3y ago
> Unfortunately housing prices are rising so fast that saving for years doesn't necessarily get you there
Where? In many, many highly developed countries this isn't true.
> 1M is close to 500K after taxes
Woah. Where do you live where effective income tax rates are 50% for 1M+? Please don't confuse marginal ("headline") vs effective ("actual") tax rates.
- ehmmmmmmmm 3y agoIn San Francisco if you make $1M as a W-2 employee your marginal tax rate is ~53% and your effective tax rate is ~47%. If you make $1M on your own the rates are even higher. (That's not including the 10% sales tax you pay on almost everything you buy with the money you have left, property taxes on property you thought you owned, property taxes landlords financially pass onto you as a renter, etc.)
- seanmcdirmid 3y agoProperty taxes are the only thing in California that are pretty mellow given prop 13. Well, unless the property was just turned over.
- throwaway2037 3y agoDon't worry, the home prices in SF are still much cheaper than Sydney or Hongkong.