Re:Elon Musk moves to Texas
by reducesuffering on Wednesday December 09, 2020 @01:56PM
(#25362623)
That's a disingenuous representation of how much extra state income taxes are paid. 13.3% is the rate for single income above $1,000,0000. A richly paid SV worker making $500k single pays 8.75% to the state of CA effectively.[0]
[0] https://smartasset.com/taxes/california-tax-calculator#6NtLs...
Re:Elon Musk moves to Texas
by misiti3780 on Wednesday December 09, 2020 @02:02PM
(#25362769)
Fair, then maybe we can agree on the following:
"If your household income is > 1MM and you live in California, it is not surprising that you would want to leave"
> for people working on a SV salary
Most Californians don't get to keep their SV salary when they move to Texas.
Re:Elon Musk moves to Texas
by misiti3780 on Wednesday December 09, 2020 @01:50PM
(#25362501)
What data are you basing that on - Austin is not cheap, and it's probably getting a lot more expensive now that everyone is moving there.
Re:Elon Musk moves to Texas
by pchristensen on Wednesday December 09, 2020 @02:46PM
(#25363575)
I looked at Austin a few years ago, and after seeing the salaries I could find vs the cost of housing for 5 in a highly rated school district, I didn't even apply anywhere.
By my calculation its 13.3% more living in California in state income tax savings alone. That is a huge amount of money for Elon, but is also a huge amount of money for people working on a SV salary. It could be more than a mortgage payment. There are probably additional savings with less regulation etc
California is not a state anyone should want to do business in in 2020.