I was planning on hitting the Stanford home game but I'm not sure we'll still be in the ACC by then.
Minimum Wage
- Thread starter GeddyLee09
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I haven’t seen an a&w in years maybe 15+. I like them too.
I first had in n out burger in San Jose I think. That was a long time ago. They’re in Austin now, which is where I’ve most recently had it.
That’s great, congrats.
Hey my daughter is in her 3rd quarter at Santa Cruz and doing well.
Yeah, I told her to enjoy her time there as it will be decades before she can afford to live there again.
$25 an hour at a fast food joint is unbelievable.
40 hour week $1,000k or $52k a year, right?
But you know what? Realistically it’s still not enough to live on in SoCal or many other urban settings. It’s still a high school kid or a retiree part time job.
40 hour week $1,000k or $52k a year, right?
But you know what? Realistically it’s still not enough to live on in SoCal or many other urban settings. It’s still a high school kid or a retiree part time job.
The economy in those areas is very distorted for a variety of reasons. There’s obviously a lot of wealth there. In San Francisco, there’s quite a bit of regulation that artificially inflates real estate prices. The challenge, of course, is, to live well, you’ve got to have and generate a lot of money. Otherwise, it’s a slog. You can live cheaply, ish, in a big city, especially as a young person, and it’s fun. As a fully functioning adult, it’s not the same thing. Exporting California’s minimum wages and regulations is a damaging proposition to areas that don't have the top end wealth to go with it. I am not convinced that California’s economy is sustainable.
The biggest asset to me, relative to California is many areas are beautiful. I’ve considered moving there before. Though, places like Austin are more appealing to me. But, as I get older, moving seems like a larger task. Too complicated.
Fully understood and aware of those realities, having lived in SoCal, although it was many years ago. And other urban areas around the country. Surprise: there are many places in this country that have beauty or are near beautiful areas.
A young single person with three roomies might be able to enjoy life in the moment, but they wouldn’t want that as a lifestyle as they mature. Or try to have a family.
Yep. Though, there is also more opportunity in wealthy areas of California to make money.
So you can end up paying over 50% of it in total state and federal taxes…
Is that a seismograph chart? I can't read it.
Just for kicks, for a hypothetical cali resident. Median income in Palo Alto is ~200k.
What You Actually Take Home From a $200,000 Salary in Every State
Making a $200,000 salary puts you in a rare category of earners in the U.S. However, while that number sure looks juicy on paper, all of it won't show up in your bank account. Taxes will take a big...
I’m sure you make more than this.
Average house in Palo Alto is 3.4 million. Property tax on that is 44k. Yes, I understand a 3.4 million dollar house for a household income of
200k a year is unrealistic. Let’s say you inherited it.
That would be 110k or so of fed plus state taxes (including property) ie >50% take home pay. A more pedestrian house, and you’re still over or close without including all taxes.
This doesn’t count sales tax, gas taxes, etc.
So yes, Goldmom’s point about taxes isn’t unreasonable. Though, it’s bad pretty much all over the country if you are in the middle to upper middle class. You get soaked. Many people work ~ half a year for the gov before they get to use their own money, effectively. To quote our libertarian friends, “Taxation is theft.”
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Be that as it may, if I moved there per the scenario Goldmom was responding to, I’d be paying ~50% Yes, the tax and expense issues there are a detractor. So, good that you’re in a pocket that isn’t “close to 50%.”
California Tax Data Explorer
Explore California tax data, including tax rates, collections, burdens, and more.
taxfoundation.org
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I didn’t assert that I do. I said probably. And, it was based on generic data. Nothing any more obnoxious than deflecting goldmom’s comment about taxes being high in cali with a personal anecdote.
Seems typical based on the article I posted earlier. But, maybe your casual financial discussion with a few friends is more accurate. Possible.
California Paycheck Calculator - SmartAsset
SmartAsset's California paycheck calculator shows your hourly and salary income after federal, state and local taxes. Enter your info to see your take home pay.
smartasset.com
This is a nice tool. In cali 400k per year = 60 percent take home pay. That pretty close to half going to the gov and accounts for no other taxes.
Sure, there are ways around this. Loans if you are working from a large asset base, for example. But, that’s an annoying thing to have to do to avoid taxes.
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Not no data. Know you have a PhD. Know you work in medical related discipline. Know you live in la area, have for decades, and have expensive tastes. You likely hang out with educated professionals. Many people don’t fully understand their tax burden. That’s more the norm than not.
You were deflecting/countering her comment with your anecdotal lived experience. Anecdotal lived experience inconsistent with typical experience in the area and counter to a narrative that would paint California in a more negative light. Ie the issue intersects with political issues in which you tend to come down in specific ways. It was not surprising that you’d offer a counter to someone saying the taxes are high in California. Doubling down on this, you brought in your colleagues and friends and asserted what I said is not typical, again based on your anecdotal data and specifically to deflect/counter goldmom’s observation. Based on your prior posting history, I surmised you possibly didn’t know your tax burden or were just obfuscating in some way (eg not counting fica/medicare/ss as a tax).
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I used ~, which equals “about.” 32 percent on that is 134,000/200,000. That’s inclusive of fed and state income. It’s 48th or so out of the 50 states according to that website, consistent with the thrust of goldmom’s post. I used median home values, but an accessible and common house for low 7 figures puts someone over 40 percent in that example. That’s not including many other forms of tax paid daily in California. Close enough to 50. But, that’s a subjective element in my post.
A more honest response from you would have been “yeah. Taxes are high here.”
I thought you were “probably” in at least a top 10 percent income bracket. Probably. Lived experience = anecdotal. I brought real numbers from non anecdotal sources to support “typical.” You were arguing “typical” based on you and your colleagues’ “lived experience.” That’s fine. Potato, potato.
Why would Goldmom care that you specifically don’t think you pay close to 50 percent?
That’s a lot of adjectives.
I do not agree I was rude or condescending. Thus, yes, you are correct that I am not able to acknowledge that. All of our posts are unnecessary. That I agree with.
Again, the experience we are talking about here started out with me moving to California as a hypothetical. Goldmom stated something to the effect of why would I do that, do I want to pay 50 % of my income in taxes? She based that on I’m sure similar assumptions to what I was making about you. If I were in the bottom income tax brackets, we’d be having a different conversation. All of the examples I’ve used have been in people making 200-400k with a million to 3 million dollar home. Based that starting point on averages in Palo Alto as you previously indicated attendance at Stanford football games. We are talking about what is typical in the upper registers. Not typical of all Californians.
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I echo the feeling that you have been condescending and rude. But, I don’t terribly care much. Good night to you.
I thought about just throwing a laughing emoji on this like our recently banished from the other site, Belem, likes to do. Seemed like an ending to the discussion with some symmetry, as that was the impetus for you engaging me as you have, my pointing that out. Alas, I too will attempt to refrain from similar engagements with you in the future.
According to Nerd Wallet the tax rate in California for someone making 136 - 698 per year is 9.3%, at the federal level that would get in the 22 - 24% range or higher. Cali sales tax is 8.8 %. Just right there you're looking at 40-42% and we haven't even discussed social security, property, gas tax, taxes on utilities, retirement taxes, medicade ect... I would think you're paying < 50% but who knows?
Lived experience > math. Also math = rude and condescending.
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That's the new tolerance= if you disagree, then you're rude and condescending...
LMFAO.
Though in his defense, he took it as if my “probably” was asserting absolute knowledge. He claims 25 percent. There’s a lot of ways to get there. And, he’s right we don’t know his personal situation.
Could be dodging taxes.
- could have a private practice and write off a lot of expenses and hide behind capital accrual in an llc. I once knew of a family whose child was on Pell grants and they spent their summers on their yacht. Mandatory minimum income….
- could have enough assets to function on loans.
- could spend 51 percent of his time in another more tax friendly state.
- Could have incorporated a company in a tax friendly state.
But, it’s also not typical of the area.
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Wasn't talking about anyone in particular, just noting a general pattern on this board by the apostles of tolerance. There's condescension on both sides of every one of these discussions, but the group that professes tolerance takes great offense at the condescension though they give it out as much anyone else.... LMFAO.... really its pure comedy.
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I would be skeptical of anyone telling me their total tax burden in California is 25%. What you pay and owe are different things.
If you were in the bottom 50 percent, maybe. Though even then, consumption taxes, payroll if you work… add up.
I guess if you're in the federal 12% bracket and 4% to the state with 8.8 % sales tax you could stay under 25% but that's for someone pulling less than 50k a year.
Thanks guys! I was unsure what I paid in Taxes this year but now I know it was 50%. I appreciate the help.
You’re welcome. Always happy to help people who are struggling to understand things.
Yep. Pure comedy.... Dude is getting financially raped by the state he glorifies and acts smug about it. Brilliant fellow, that one. LMFAO.
Brainvision is only paying 25% total tax, nowhere close to 50%. That's not bad. Makes sense why he might be voting for tax increases. Maybe Belem is in the same category. Perhaps they were grandfathered in to the best tax situation in the US. . . in california.
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