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A comment on The IRS Sets a Trap for Cryptocurrency Tax Cheats. Parent comment

Re:The IRS Sets a Trap for Cryptocurrency Tax Cheats by mrep on Saturday September 26, 2020 @11:54PM (#24604112)
Hm, I actually did the full pay calculation included payrolls a month ago for myself last year. Granted, I was in washington last year, but between federal income taxes, social security, and medicare mine was about 27% on 221k income as a single person with no kids and I'm including the employer payroll taxes as part of that income. Converting USD to CAD gets you 294,528 which has an average tax rate of 41.69% according to this website [0] and it doesn't include your payroll tax.

As for healthcare, vision, and dental for a single person with no kids my employer paid $8,800 for the year, I paid 150, I get to put $3,500 pretax income into a HSA for healthcare spending, and my max out of pocket spending is $2,600 so that's not really a concern for me.

[0]: https://simpletax.ca/calculator

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Re:The IRS Sets a Trap for Cryptocurrency Tax Cheats by vkou on Sunday September 27, 2020 @02:41AM (#24604696)
Washington derives all of its tax revenue from things that don't appear on your paystub. Property taxes and sales taxes. Because it's not saddled with Prop 13, it can actually collect property taxes at its posted rates.

This does, however, mean that it has one of the most regressive tax regimes in the country.

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