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by rsfern
1642 days ago
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I will concede a misunderstanding perhaps of the income distribution in CA. But the figures you quoted are the marginal rates, and at the federal level that top bracket kicks in at over 500k in the limit of very high income, your effective rate will start to approach the top marginal rate. But the idea of 500k being the negligible portion of one’s gross income is just so far out of my experience, it’s hard to see why that’s the default assumption. how many people is that even realistic for? I thought past a certain point peoples total comp started to be more things like equity Edit: I think I see what you meant by “i specifically said that will only get you close to 50% effective”, initially I just added the marginal rate for federal and CA and thought that’s what you meant by “close to 50%” I still don’t really know where you’re coming from though — say you’re single and your income is 1 M$, and you don’t do anything aside from standard deduction to reduce, that’s like 46% effective (I forgot payroll taxes before). Is 40k property tax realistic in SF? I genuinely don’t know |
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