Re:Biden wins White House, vowing new direction for divided ...
by wolco2 on Saturday November 07, 2020 @02:17PM
(#25017844)
Anything after 400k would be taxed at that rate, 62%.
"In California, New Jersey and New York City, taxpayers earning more than $400,000 a year could face combined state and local statutory income tax rates of more than 60%"
Re:Biden wins White House, vowing new direction for divided ...
by tiziniano on Saturday November 07, 2020 @02:52PM
(#25018431)
It is an option, but remember something that the Democrat party was talking about in 2016... a global tax. Prediction, that will make a big comeback under Biden
"In California, New Jersey and New York City, taxpayers earning more than $400,000 a year could face combined state and local statutory income tax rates of more than 60%"
https://www.google.com/amp/s/www.cnbc.com/amp/2020/10/19/tax...
The question is how does this affect many FAANG employees? Is a move out of state an option?