• Chopper's Mo@aussie.zone
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    2 months ago

    I hope you pay an accountant to do your taxes, because that’s way, way off.

    If you earn $60k in a state like, NY, your take home amount will be $45,363

    CA: $47,763

    TX: $49,949

      • qjkxbmwvz@startrek.website
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        2 months ago

        Marginal tax rate in California is about 50% for highest bracket (37% federal + 12.3% state).

        But 60k is nowhere near that number of course (and effective tax rate is lower than marginal). I’d be surprised if there are any countries where income at ~4x poverty line (for an individual) would have anything near a 50% tax rate, but I could be wrong…

        • Chopper's Mo@aussie.zone
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          2 months ago

          that CA tax was copied from the us tax office website’s calculator. It does it by city, not just state, which I thought was interesting. (That number was from San Fran)

      • Chopper's Mo@aussie.zone
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        2 months ago

        Out of curiosity, I looked up one of the highest taxed countries in the world: Finland.

        $60,000usd = 54,133.80 Euro, with a take home of only € 31,447 (averaged tax rate of 41.9%, 53.2% on the marginal), which is $34,850usd

        So, if Vampire@hexbear was thinking about Finland…

        He gets a pass. (He wasn’t, and OOP was using $, not €, but your point is otherwise valid!)

      • Chopper's Mo@aussie.zone
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        2 months ago

        yes and no. Yes, you can get up to 98% tax rate, I’m sure - but that’s not how tax brackets work.

        also, OOP is from the USA.

      • Chopper's Mo@aussie.zone
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        2 months ago

        but £60,000 is a lot more than $60,000usd, so I’d expect the overall rate to be higher.

        so, while yes, take home would be £45,361, if it were the same…

        $60,000usd = £45,575, which take home would be £36,335.40, which in USD would be $47,834

        making the two countries basically the exact same for taxes.