[rot13xor]

In California the top marginal tax rate can be over 50%. 37% federal tax, 12% state tax, 3.8% net investment tax.

[kgermino]

Not sure what the net investment tax is, but just the normal Medicare tax (2.35%) is enough to get over 50% with federal and state income taxed there

[hgsgm]

That's on income over ~$500K AGI (which after deducting 401(k) )