[lotsofpulp]

6.2% social security drops off after $132,900.

https://www.irs.gov/taxtopics/tc751

50% is a high estimate, good for budgeting though. With property taxes, vehicle registration fees (aka taxes), school fundraising (aka taxes), tolls (also tax), health insurance (a tax if it’s mandatory), and other fees for dealing with government, you get pretty close to 50%.

The only way to beat this is to make a significant portion of your income via capital gains, that’s one big advantage of the real estate business, various loopholes exist to let you minimize taxes (like 1031 exchanges) on increases in your net worth.