Yup. When you take into account all state taxes, including their very high property taxes, you pay less taxes in California than texas if you make less than 660k.
After 660k? You save tons and tons of money. There is a reason a bunch of billionares have moved their “permanent residence” to the state
Sure, im looking for where i saw that number 660k number specifically, but here is an article that shows the fact that you pay less up to that 600k range:
According to ITEP, Texans whose salaries fall into the lowest 20 percent of income earners (making less than $20,900 annually) pay about 13 percent of their income in state and local taxes. Meanwhile, Californians in the bottom 20 percent (making less than $23,200 annually) pay 10.5 percent. In Texas, the middle 20 percent of income earners ($35,800-$56,000) pay 9.7 percent in state and local taxes in contrast to middle income Californians ($39,100-$62,300), who only pay 8.9 percent. Most glaringly, the top 1 percent of earners in Texas ($617,900 or more) pay 3.1 percent of their income in contrast to top earnings in California ($714,400 or more) who pay 12.4 percent.
It seems unbelievable because of right wing propaganda, but the actual tax data doesnt lie. Almost all Texans are taxed higher than Californians by their respective states.
Wow, that’s crazy. I wouldn’t have been surprised if it were up to some much smaller number, but I’m shocked it’s actually that high. I appreciate the link.
Yup. When you take into account all state taxes, including their very high property taxes, you pay less taxes in California than texas if you make less than 660k.
After 660k? You save tons and tons of money. There is a reason a bunch of billionares have moved their “permanent residence” to the state
Can I see these numbers because I find that threshold to be entirely unbelievable?
Sure, im looking for where i saw that number 660k number specifically, but here is an article that shows the fact that you pay less up to that 600k range:
It seems unbelievable because of right wing propaganda, but the actual tax data doesnt lie. Almost all Texans are taxed higher than Californians by their respective states.
Wow, that’s crazy. I wouldn’t have been surprised if it were up to some much smaller number, but I’m shocked it’s actually that high. I appreciate the link.