California income taxes
01-02-2020, 10:58 PM
#381
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Joined APC: Jan 2007
Position: B717 CA
Posts: 447
California income taxes
Yes. It is a little confusing. Sales tax (exclusive) at the counter is 30%. Maximum income tax (inclusive) is 23% although your personal effective income tax is based on how much new goods and services you consume after the prebate, so it has the capability to be much lower. Here is a graph that is helpful:
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01-03-2020, 01:03 AM
#382
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Joined APC: Mar 2006
Position: guppy CA
Posts: 5,171
I'm working on my Federal taxes right now (way too big a cut for the gubmint). For yucks, I decided to do some quick CA state tax calculations. A bit more than $43K would be our CA state tax bill. No thanks; I'll stick to commuting.
01-03-2020, 03:10 PM
#386
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Joined APC: May 2010
Position: Baja Vermont
Posts: 5,197
$43,000 is a lot of money for sunshine.
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GF
01-03-2020, 07:36 PM
#388
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Joined APC: Apr 2011
Position: retired 767(dl)
Posts: 5,745
01-05-2020, 01:46 PM
#390
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Joined APC: Nov 2017
Posts: 2,122
I guess if equitable enforcement of a law is your only measuring stick of fairness, then yeah, I guess that’s “fair” but a very myopic view.
The simplest way to think about it in my mind is like tuition for public school. We have one of the best public elementary schools in Sacramento walking distance from our house. We’ll pay $5500 a year to send our daughter there, she payed a few hundred a year to send her son to the same school. Because she was lucky enough to be born in that house.
So the difference is the greater good or the individual.
The simplest way to think about it in my mind is like tuition for public school. We have one of the best public elementary schools in Sacramento walking distance from our house. We’ll pay $5500 a year to send our daughter there, she payed a few hundred a year to send her son to the same school. Because she was lucky enough to be born in that house.
So the difference is the greater good or the individual.
And the alternative if you get rid of prop 13 is that every one (you and her) will be paying higher and higher taxes at the whim of their bureaucracy. This way, the bureaucrats are locked out of raising everyone’s taxes every year. That’s why I believe it’s better that you let ACTUAL purchase price dictate property tax. When your kids buy their house in California, they will pay less than you did. Will you then say it’s unfair to them?
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