News for hackers. Stuff that matters.
Re:To Understand Rising Inequality, Consider Janitors by gok on Sunday September 03, 2017 @02:32PM (#15163011)
Nit: That 52.9% number isn’t quite right because you get to deduct your CA income tax against your federal income tax. So in practice even if you made a billion dollars in California, you’d pay $133M to the state then get federally taxed 39.6% on the remaining $867M, giving you an effective tax rate of about 47%.
Re:To Understand Rising Inequality, Consider Janitors by cjlars on Sunday September 03, 2017 @02:33PM (#15163016)
Good point, updated. It would be further impacted by AMT and the standard deduction thresh-hold, but that's a good estimate I think.