I quit the tech industry

Re:I quit the tech industry by psybermancer on Wednesday June 10, 2015 @07:58AM (#9691375)

Thanks to the Internet numbing my moral compass, it's not often I'm shocked, but 53% is just horrifying :(. On the other foot, I live in Australia where most can't afford to buy a house in Sydney, even with what would be considered pretty good wages.

That's why I moved out of core tech and became a librarian (which is still pretty tech) in a more regional city. Lower wages but slightly more affordable houses mean I might still have a chance at giving my kids a mortgage one day..

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Re:I quit the tech industry by mattdeboard on Wednesday June 10, 2015 @10:48AM (#9692568)

In addition to the other responses, remember that US federal income tax is a graduated tax rate, so even at ~40% on 120k, you're only paying 40% on your income over like 90k, lower tax rates for income in lower brackets.

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Re:I quit the tech industry by nugget on Wednesday June 10, 2015 @08:26AM (#9691537)

Between (hidden) payroll taxes and state and federal income taxes a developer making 120k in San Francisco isn't too far below 53%.

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Re:I quit the tech industry by jtbigwoo on Wednesday June 10, 2015 @09:00AM (#9691750)

120k is in the top 20% of wage earners in the U.S. That's quite a bit different than $35k which is in the bottom ~30% (in the U.S.)

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Re:I quit the tech industry by rayiner on Wednesday June 10, 2015 @08:57AM (#9691734)

It's only 40% in California at $120k. And 25% at the $35k level OP mentioned.

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Re:I quit the tech industry by brianwawok on Wednesday June 10, 2015 @09:03AM (#9691780)

Which has always been one of the downsides of Cali life, your local tax bracket and your federal tax bracket are not on the same program.

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