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A comment on Despite rising wages, 61% of Americans are still living paycheck to paycheck. Parent comment

Re:Despite rising wages, 61% of Americans are still living p... by s1artibartfast on Thursday February 17, 2022 @06:05PM (#30379940)
I pay 35% actual rate between California and Federal taxes. IF I were self employed OSADI tax would add another 6.2%.

......

EXAMPLE: 120k income breakdown:

Federal actual rate 16.5% (24% marginal)

CA State actual rate 6.4% (9.3% marginal)

Medicare rate 2.9%

OSDI rate 12.4 %

CA SDI rate 1.0%

= 39% right there

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Re:Despite rising wages, 61% of Americans are still living p... by amrocha on Friday February 18, 2022 @03:59AM (#30383561)
Oh wow, I didn't know freelancers have a higher tax burden, thanks for the heads up!
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