Thread: Discussion 52% in California? No, it's 57%
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Old Dec 05, 2012, 08:36 PM
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Originally Posted by s2000 View Post
Just had a little discussion with my daughter in-law and she was explaining the effective tax rates she and her husband will pay, 57% is the new rate after the election, and this doesn't include all the user "fees" and taxes such as car registration, park fees fishing fees and on and on. I asked when they are going to move to Nevada, Idaho or Wyoming, because I will follow. The Gimmedats are never satisfied are they? Just keep taxing the rich you ____ ____ soon the rich will be anyone with a house that is payed off.
Show us the math. Because 57% effective tax rate is unattanable through federal income tax + state income tax. You're leaving out some key pieces of information. If you're talking about marginal tax rates, then the effective tax rate would be much lower. Even millionaire movie stars in California do not pay 57% in Fed+state income tax.
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