News for hackers. Stuff that matters.

A comment on Research repository ArXiv receives $10M for upgrades. Parent comment

Re:Research repository ArXiv receives $10M for upgrades by dheera on Friday October 20, 2023 @01:02PM (#37958667)
If only you had that $500K ...

But the government will steal $250K of it right off the bat. And then probably another $50K because at least in CA you get double-taxed both when earning and when spending.

You're left with only $200K real dollars.

[ Parent | on HN ]
Re:Research repository ArXiv receives $10M for upgrades by coding123 on Friday October 20, 2023 @02:26PM (#37959718)
10.25 percent (highest sales tax rate in CA - 1) of 250k is closer to 31.25k. State and fed taxes income taxes are around 45% but I'll grant you there's other hidden fees (social security and others)... luckily hidden fees are now illegal in CA.

[1]: https://www.avalara.com/taxrates/en/state-rates/california.h...

[ Parent | on HN ]
Re:Research repository ArXiv receives $10M for upgrades by ecshafer on Friday October 20, 2023 @09:53PM (#37963406)
You can easily get a mortgage for 3x income and 4x isn't that hard. So $500k can buy a $1.5m house with no problem. $500k income is easy to buy a house forth $500k cash after a couple years.
[ Parent | on HN ]