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Do the Math

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posted on Mar, 27 2017 @ 10:48 AM
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A financial advisor should be competent enough to
appraise everything that affects your money, not just
complex sounding inflation charts.

Unfortunately Californian's are required to pay 13%
of their income via State tax. So a single person living
in California earning less than 91k is required to pay a
25% federal income tax + 13% State Sales tax.

25+13=38 ... 38% of income!

(Not including onerous sales taxes, property taxes, and health
insurance which is much higher compared to other states)

This is pitiable in the extreme. Any financial
advisor who does not inform their clients concerning
financial benefits of moving out the state of California
should be slapped.

If a client is able to move to a state with a lower State Tax,
such as Arizona they could actually use the
savings for investment. Or even better yet,
move to a state without a State tax like Florida.

Maybe these financial advisors fail to inform their customers
since such a move might lose clients?

This is just one of the reasons why so-called
experts are not always qualified. Be your own
expert, and research what's best for you.




posted on Mar, 27 2017 @ 10:54 AM
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a reply to: MrBlaq

13%???

No wonder they call it Kalifornia.

Heres an info-pic to help people decide where they should live if they actually want to keep the money they earn.

And oh, welcome to the Libertarian Party.



edit on 27-3-2017 by gladtobehere because: wording



posted on Mar, 27 2017 @ 10:59 AM
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originally posted by: gladtobehere
a reply to: MrBlaq

13%???

No wonder they call it Kalifornia.

No, we call it the Granola state... you know fruits, nuts and flakes.



posted on Mar, 27 2017 @ 11:24 AM
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a reply to: MrBlaq

That's like Michigan. With State + City + Local + Federal taxes its 1/3 your pay. Never mind taxes on your bills, sales tax, etc; a population completely ignorant to Inflation and what it does to steal your money right out of your bank account (effectively).

I recall my first jobs, earn $300 in a week and only take home $200.

And they wonder why people go off the table for a living, for life.

Flee any and every state that does that to you, unless you have what it takes to figure out and actually accomplish your own thing.
edit on 27-3-2017 by IgnoranceIsntBlisss because: (no reason given)



posted on Mar, 27 2017 @ 11:27 AM
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a reply to: MrBlaq

holy crap I almost gave you sh't for saying 'Do The Meth'.

so never mind, it''s all good lol.



posted on Mar, 27 2017 @ 11:28 AM
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a reply to: MrBlaq

Does your tax rate apply to all income or does it kick in after a certain level is reached?
That would reduce your overall rate.



posted on Mar, 27 2017 @ 11:48 AM
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a reply to: MrBlaq

Question is, does this higher state tax % = more services than in other states with less tax? Doubt it.



posted on Mar, 27 2017 @ 11:53 AM
link   

originally posted by: MrBlaq
A financial advisor should be competent enough to
appraise everything that affects your money, not just
complex sounding inflation charts.

Unfortunately Californian's are required to pay 13%
of their income via State tax. So a single person living
in California earning less than 91k is required to pay a
25% federal income tax + 13% State Sales tax.

25+13=38 ... 38% of income!

(Not including onerous sales taxes, property taxes, and health
insurance which is much higher compared to other states)

This is pitiable in the extreme. Any financial
advisor who does not inform their clients concerning
financial benefits of moving out the state of California
should be slapped.

If a client is able to move to a state with a lower State Tax,
such as Arizona they could actually use the
savings for investment. Or even better yet,
move to a state without a State tax like Florida.

Maybe these financial advisors fail to inform their customers
since such a move might lose clients?

This is just one of the reasons why so-called
experts are not always qualified. Be your own
expert, and research what's best for you.



All those states have some semi unique boom industry that ends up handleing most of the taxes..

That is almost by definition not something you can have everywhere...



posted on Mar, 27 2017 @ 11:59 AM
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No like here in NY it goes to the social leaches. I've got no problem helping anyone one during hard times. In NY in seem to be help illegal immigrants who have 4-5 kids on welfare, and work off the books.a reply to: Elementone




posted on Mar, 27 2017 @ 12:01 PM
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Do any of the participants in this thread have the ability to show the political red/blue map alongside the state tax rate map? I think that would be interesting.



posted on Mar, 27 2017 @ 12:18 PM
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It doesn't matter what you pay in taxes. What does matter is the purchasing power of your take home pay.


California must being doing something right because there's a lot of people who like living there. I guess it depends on what you can buy with your take home pay. If it were just the tax rate part of the equation everyone would move out of California as quickly as possible.



posted on Mar, 27 2017 @ 12:49 PM
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a reply to: MrBlaq

I never thought of that in terms of being a Financial Advisor. That's interesting.

But.........here's the question........is it even possible for someone to live in Kali without making a minimum 100k a year?

My guess is that a whole lot of people in Kali are working off the books for cash.



posted on Mar, 27 2017 @ 01:53 PM
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originally posted by: dfnj2015
It doesn't matter what you pay in taxes. What does matter is the purchasing power of your take home pay.


California must being doing something right because there's a lot of people who like living there. I guess it depends on what you can buy with your take home pay. If it were just the tax rate part of the equation everyone would move out of California as quickly as possible.


The cost of living in CA is through the roof. People move/stay there though because of the weather and jobs (high tech and entertainment). However, a lot people leave once they are in a position to do so. In most cases, those hurt most are the lower classes who simply cannot afford to live there.

Tiger Woods Left CA Because of Taxes



posted on Mar, 27 2017 @ 01:54 PM
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originally posted by: TonyS
a reply to: MrBlaq

I never thought of that in terms of being a Financial Advisor. That's interesting.

But.........here's the question........is it even possible for someone to live in Kali without making a minimum 100k a year?

My guess is that a whole lot of people in Kali are working off the books for cash.


Of course you can... you just have to adjust what you expect to be able to afford on that kind of money.



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