Asked a friend whose tc is 600k in Seattle He told me his take home is 350k. wtf with US It’s so hard to save money from salary Edit: not the end, he has to pay sales tax, property tax, so basically his credit tax rate can easily pass 50%. Some people compare it to Germany/UK, but they have free tuition and free medical bills
Rich needs to pay their fair share.
The rich pay almost all taxes in America. Over 50% of Americans pay 0 income tax even though they get most of the benefits from free services.
They'd pay more taxes if they got paid more. Just raise their wages so they don't need to survive on free services.
Other places it is even worse. Some European countries it is 60% tax. Where are you from that is so much better?
People happily their taxes there as the state takes care of them.
We get just about all of the same benefits they get minus the healthcare. The “free” healthcare isn’t worth another 15-20% income tax
For Washington, I doubt it. California, very accurate.
And that's in a tax free state. Habibi come to California
Eh, most of that tax that people on here b*tch about is Federal anyway. Another ~10% tax on 10%+ income is a wash
County tax + city tax + fire in the hole tax + sales tax
Trump pays nothing. It's not fair to w2s
Well above half of TC, not bad!
That's an effective rate of 41.6%. Something ain't right.
Probably counting 401k and other deductions
Yea, my TC is roughly 600k, "take home" is about 375k, but that is after maxed 401k, 5k in dependant care, 3.5k in FSA, 25k in ESPP. It does give you a weird feeling in between vests tho, my bi-weekly paycheck is only a little over 5k
Compared to what countries?
Singapore has top tax rate of 22%.
Do they pay 400k?
On top of that crazy expensive everything like healthcare.
thats TRUE!!