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by callmeal
461 days ago
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A quick back of the envelope calculation shows that an income of $1 million gets you an effective tax rate in the mid 40s in California. AGI: $1000k
Federal Income Tax: $322k
California State Income Tax: $102k
FICA Taxes: $32k
Total tax: $456k Compared to say Germany, where for the same income you would be paying over 50% in taxes. So I think you're doing very well. |
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