It's a remarkably high rate for people accustomed to progressive tax systems with a sharper curve.
It's not hard for tech workers to start hitting top rates similar or higher than that in the US if you're in a high tax state, but at 60k you're more likely to top out at 39%, but because the curve is so steep the average (actual percentage of income) tax is only something like 22%. That includes extras like social security and Medicare.
Living in a state without any income tax will further lower those numbers.
> Living in a state without any income tax will further lower those numbers.
Sure, but how well are those without income supported in those states? Can they live a comfortable life even if they're unable to work? Can they go to the hospital and do life-saving surgeries without being in debt for the rest of their lives? Are there enough libraries and beyond-school activities everyone could use for free, regardless of income?
Once you hit those rates, I feel like you should stop thinking about how you can pay less in taxes, and figure out how you can support everyone else around you, otherwise what's the point of earning all that money in the first place?
> Once you hit those rates, I feel like you should stop thinking about how you can pay less in taxes, and figure out how you can support everyone else around you, otherwise what's the point of earning all that money in the first place?
Taxes are the fees you pay for living in a nice society
> Sure, but how well are those without income supported in those states?
No income at all generally means you're eligible for either Medicaid or Medicare, or COBRA coverage if you're recently unemployed.
The worst off are people who have low paying jobs- they make too much for benefits (typically 138% or more of the federal poverty level) but not enough to afford employer-sponsored or private-market insurance.
It's not hard for tech workers to start hitting top rates similar or higher than that in the US if you're in a high tax state, but at 60k you're more likely to top out at 39%, but because the curve is so steep the average (actual percentage of income) tax is only something like 22%. That includes extras like social security and Medicare.
Living in a state without any income tax will further lower those numbers.