45% is the absolute highest tax rate you can currently get you need a income of 277826€/year
Yes, we have higher social security Expenditures as well, but they pay back a lot more as well, they are paid 50/50 (Employer/Employee) and they are capped at some point (different for insurance and gets changed every year)
It has pros and cons, cost of living for example is a lot less.
45% is the absolute highest tax rate you can currently get
we have higher social security Expenditures as well,
So it’s higher than 45% in reality (for example I believe at $100k the social contributions would be twice as much as the tax). That 27% for California includes everything. If those taxes are worth it are a separate issue.
A person having that tax rate doesn’t pay social security anymore usually…
Thats the highest possible tax rate. Most are around 20% and i don’t think you know how taxes are calculated. You don’t pay 45% on your entire income either.
And no its not a separate issue. It all plays part here.
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45% is the absolute highest tax rate you can currently get you need a income of 277826€/year
Yes, we have higher social security Expenditures as well, but they pay back a lot more as well, they are paid 50/50 (Employer/Employee) and they are capped at some point (different for insurance and gets changed every year)
It has pros and cons, cost of living for example is a lot less.
So it’s higher than 45% in reality (for example I believe at $100k the social contributions would be twice as much as the tax). That 27% for California includes everything. If those taxes are worth it are a separate issue.
A person having that tax rate doesn’t pay social security anymore usually…
Thats the highest possible tax rate. Most are around 20% and i don’t think you know how taxes are calculated. You don’t pay 45% on your entire income either.
And no its not a separate issue. It all plays part here.