Happy New Year My Kaliforistan Friends!!!

[LargeOrangeFont]

I'm not paying 10% additional of my income in taxes. Example: My tax rate didn't go from 10% to 20%

You are paying 10% more in income taxes.

You tax rate going from 10% to 20% would be a 200% tax increase.

This is a 10% increase. If you paid $10 last year you pay $11 this year. You just paid 10% more.

 

[LargeOrangeFont]

The crazy thing about state income tax, and this is the thing I try to tell my children in their 20s if you took a young couple that’s making $150,000 a year combined and they’re end up paying about $12-$1300 a month in state taxes if they were in any of the tax free states and didn’t spend that money and can turn around and invest that into the their IRA or brokerage accounts, and you throw that into a compound interest calculator and run it out over a 35 year working lifetime from age 30 to 65 they would have somewhere between $4 and $5 million additional when your nest egg.

These are just rough numbers so before anybody goes crazy dissecting the math even if it’s half wrong it’s still $2 to $3 million additional in their nest egg

That’s partially true and a fantastic plan. There are for sure cheaper and more expensive states to live in. These states all get their money somehow.. either through income tax, property tax, sales tax or some combination of all of the above.

 

[Deckin Around]

You are paying 10% more in income taxes.

You tax rate going from 10% to 20% would be a 200% tax increase.

This is a 10% increase. If you paid $10 last year you pay $11 this year. You just paid 10% more.

I'm totally with you, I was just trying to explain how I misinterpreted it. Geez. SDSU Econ failed me again.

 

[LargeOrangeFont]

I'm totally with you, I was just trying to explain how I misinterpreted it. Geez. SDSU Econ failed me again.

Maybe you can ask them for a 10% refund?

It’s just semantics. The state will tell you income taxes were raised 1%

They will also tell you Covid is up 500% because they went from 1 case to 5.

 

[Tank]

You are paying 10% more in income taxes.

You tax rate going from 10% to 20% would be a 200% tax increase.

This is a 10% increase. If you paid $10 last year you pay $11 this year. You just paid 10% more.

Frankly I didn’t understand the “10%” either. Thanks for explaining it so I could understand.

 

[jet496]

I'm totally with you, I was just trying to explain how I misinterpreted it. Geez. SDSU Econ failed me again.

Frankly I didn’t understand the “10%” either. Thanks for explaining it so I could understand.

Same here but I got it now. It would be a good brain teaser math question.

 

[Havasu blue label]

Anyone that pays the listed tax rate, needs to hire a better tax guy
While the increase sucks, it will impact those less fortunate then the majority of RDP members.

Thank you

 

[regor]

SDSU Econ failed me again.

 

[Instigator]

@ Shintoo
Did your fingers hit a wrong button on your calculator or where you still dealing with a New Years hangover when you looks at the math?
:-O

 

[was thatguy]

Otani's contract will pay California about $102 million in state taxes.

He should have tried for Texas like Corey Seager did it. He got to skirt the state taxes and get a " Real " World Series ring.

Not accurate.
Pro ball players are typically paid “per game” and pay state income taxes in all the different states they play in based on per game earnings. They will have a stack of different State returns at years end.
This averages out in different ways depending on their State of residency.
When I lived in CA, and would have multiple state returns, CA typically was the least of my tax liability as I would have almost no CA income.
My CA tax lady had quite a few pro ball players for clients.

 

[Bpracing1127]

Couple grand more for me too

 

[was thatguy]

What’s another few billion when they’re already behind $68billion. When NPR is saying it’s a mess, shit is really wrong. The gap over the next three years is $155 BILLION. Thats using current tax base which is gonna unravel soon. There will be another wave of “moves” coming soon.
If the Dems pick up any seats in the house and retain the presidency, CA will be bailed out of their mess just like they were during the Vid free for all. If they don’t, all hell is going to break lose. Dems won’t cut programs to get on track. They’re gonna kill jobs, pensions/benefits.


View attachment 1318754

 

[shintoooo]

@ Shintoo
Did your fingers hit a wrong button on your calculator or where you still dealing with a New Years hangover when you looks at the math?
:-O

I have no idea. I don't pay any taxes.

 

[Sherpa]

That chart goes from 68k to 349k or whatever?
Wtf am I supposed to see here??

 

[oldboatsrule]

So on 200k taxable income I was paying roughly $18,500, now I will be paying $20,050.

I'm gonna have to go be poor somewhere else now! .

1% of my income to make sure all the illegals get vaxed isn't gonna hurt me at all.

 

[boatpi]

I did a rough guesstimate the other day moved to Nevada about 5+ years ago so for 2023 my guesstimate I’ll be saving about 107,000+ in California income tax. Insane.

Where
Does it go they go? but there’s no audit and they’re not going to do an audit. That’s the problem..

 

[Kachina26]

That’s partially true and a fantastic plan. There are for sure cheaper and more expensive states to live in. These states all get their money somehow.. either through income tax, property tax, sales tax or some combination of all of the above.

Thank you!
All the Texans in my company tell us how great it is not paying state income tax. So I ask them what they pay in property tax and then tell them what I'm paying. It's about even money at the end of it all. They ain't paving the roads with unicorn farts and pixie dust.

 

[Happy Smitty]

I'm totally with you, I was just trying to explain how I misinterpreted it. Geez. SDSU Econ failed me again.

It's okay. Word problems were always the hard ones. Statistics show that three out of two people are bad at fractions.

 

[badgas]

Not accurate.
Pro ball players are typically paid “per game” and pay state income taxes in all the different states they play in based on per game earnings. They will have a stack of different State returns at years end.
This averages out in different ways depending on their State of residency.
When I lived in CA, and would have multiple state returns, CA typically was the least of my tax liability as I would have almost no CA income.
My CA tax lady had quite a few pro ball players for clients.

Ok Then cut the number in half as they play 81 home games. They play many road games in SF and SD as well as NY etc.

The point was just to show that it's a LOT of state taxes. I know when Seager signed with the Rangers the estimate was $76 million in tax savings over playing in California

 

[badgas]

Thank you!
All the Texans in my company tell us how great it is not paying state income tax. So I ask them what they pay in property tax and then tell them what I'm paying. It's about even money at the end of it all. They ain't paving the roads with unicorn farts and pixie dust.

This is true as Texas has like 3% property tax but houses are WAY less. My buddy moved to little elm a few years back and paid $329K for a house that would have easily been $1 million in OC.

Don't fall for the " Paving Roads " excuse. That is what the highest gasoline tax is for.

 

[dribble]

The crazy thing about state income tax, and this is the thing I try to tell my children in their 20s if you took a young couple that’s making $150,000 a year combined and they’re end up paying about $12-$1300 a month in state taxes if they were in any of the tax free states and didn’t spend that money and can turn around and invest that into the their IRA or brokerage accounts, and you throw that into a compound interest calculator and run it out over a 35 year working lifetime from age 30 to 65 they would have somewhere between $4 and $5 million additional when your nest egg.

These are just rough numbers so before anybody goes crazy dissecting the math even if it’s half wrong it’s still $2 to $3 million additional in their nest egg

The question is can they make that kind of money in any of the nine states that have no income tax?

 

[mjc]

You get investment payouts ? Damn, I need a new money guy

Yep just setup a new one to make my new to me truck payment. Never need do anything just gets paid every month. Using only interest.

 

[Done-it-again]

Thank you!
All the Texans in my company tell us how great it is not paying state income tax. So I ask them what they pay in property tax and then tell them what I'm paying. It's about even money at the end of it all. They ain't paving the roads with unicorn farts and pixie dust.

True, but I wouldn’t had to pay the $66,000 in December for my PTET ca taxes if I lived in TX. My 1.8% Texas property tax rate would be $22,500 on a 1.250 mil home. I would be money ahead.

It works for business/owners.

 

[Xtrmwakeboarder]

So on 200k taxable income I was paying roughly $18,500, now I will be paying $20,050.

I'm gonna have to go be poor somewhere else now! .

1% of my income to make sure all the illegals get vaxed isn't gonna hurt me at all.

So how much is going to hurt you? 2%? 5%? 20%? Look at the big picture here. They are charging you more to cover stuff that doesn’t benefit you. Do you really think they’ll stop if people like you keep shrugging your shoulders at this shit?

 

[Kachina26]

This is true as Texas has like 3% property tax but houses are WAY less. My buddy moved to little elm a few years back and paid $329K for a house that would have easily been $1 million in OC.

Don't fall for the " Paving Roads " excuse. That is what the highest gasoline tax is for.

Houses aren’t as cheap as they were a few years back and not everyone comes from OC. I’m going to be about even money on the move. My company acts like we’re all coming out of OC too. I’m ready to get out of Ca, but Texas wasn’t the plan.

 

[BingerFang]

US debt hit 34 trillion today. We’re all fucked anyways

$34,001,493,655,565.48

 

[Kachina26]

True, but I wouldn’t had to pay the $66,000 in December for my PTET ca taxes if I lived in TX. My 1.8% Texas property tax rate would be $22,500 on a 1.250 mil home. I would be money ahead.

It works for business/owners.

I’m just a lowly W-2 earner. I’ll probably come out ahead, but it ain’t my dream location. I am looking forward to getting away from the zombie apocalypse though.

 

[oldboatsrule]

So how much is going to hurt you? 2%? 5%? 20%? Look at the big picture here. They are charging you more to cover stuff that doesn’t benefit you. Do you really think they’ll stop if people like you keep shrugging your shoulders at this shit?

They won't stop period.

 

[CarolynandBob]

Thank you!
All the Texans in my company tell us how great it is not paying state income tax. So I ask them what they pay in property tax and then tell them what I'm paying. It's about even money at the end of it all. They ain't paving the roads with unicorn farts and pixie dust.

The differences is I get to decide if I want to pay the higher tax, IF we are paying the same in the end, which we are not. Here in FL the closer you are to the coast, the higher property tax and hurricane insurance cost. Live 8-10 miles from the beach and the property tax and ins go way down. If the sales tax is high then I can decide if I want to buy something and pay the higher tax. CA base sales tax is 7.25% and FL is 6%. The house we are looking at is about 500k. Property tax is 6K, so a 1.19%. CA property tax is a min 1%. We can probably call the insurance a push, with you guys dealing with fires and we deal with hurricanes.

So now we have a CA resident paying 10.2% income tax and 1.25% more in sales tax minus the .19% more in property tax FL has to pay. That comes to 11.26 % more in taxes you are paying than a FL resident.

Now you may say it is worth it and that is great. We are also not talking about other negatives that come with living in CA vs FL or other no income tax states.

 

[napanutt]

I moved to a no income or sales tax state. Pretty decent raise for me.

 

[TobeyMaguire]

Happy New Year!

 

[WYRD]

If I paid 36,050 in taxes last year and have to pay 39,655 in taxes this year on the same income, I do believe I am paying 10 percent more in taxes paid as 39,655 is ten percent more than 36,050?

Yore not using common core math....

 

[LargeOrangeFont]

Houses aren’t as cheap as they were a few years back and not everyone comes from OC. I’m going to be about even money on the move. My company acts like we’re all coming out of OC too. I’m ready to get out of Ca, but Texas wasn’t the plan.

If you buy a house roughly equal to your in TX you are coming out far ahead $ wise.

The people that move and upgrade houses significantly are the ones with the high tax burdens.

 

[Xring01]

The question is can they make that kind of money in any of the nine states that have no income tax?

Some can, some can’t..

Its working out great for me, and I love Reno area… Tahoe is amazing. Winters are definitely colder but summers are cooler than Murrieta CA.

Where I live, zero homeless… Yeah in downtown Reno you see some.
People drive politely … and are in the left lane for one reason, to pass the slower car in the right… Wow what a concept.
Most people I know have CCW’s but some carry outside the waste band, therefore the “crime rate” is reflective, and lets just say it stupid low compared to any major area in CA.
Property taxs dropped over 70% for me…

I can keep going… but I am a minimum $22,500 in savings thats all going into my investments. That doesnts include cheaper cost of living like gas, grocery’s, DMV, etc etc… That number is when I left, not where it is now….

 

[Xring01]

If you buy a house roughly equal to your in TX you are coming out far ahead $ wise.

The people that move and upgrade houses significantly are the ones with the high tax burdens.

The Texas property tax thing…
yeah, buy a property with more than 2.5 acres… drop a cow or two on it… and get the agg exempt tax break… all while raising your own beef…

Thats why you see so many “trailer houses” on smaller acerage with a few cows…

 

[Pattle]

US debt hit 34 trillion today. We’re all fucked anyways

$34,001,493,655,565.48

Here is a sad little metric: what the dollar is worth today vs 2016. Maybe, just maybe, there was a plan behind the inflation push? Our debt is a lot scarier now than it would have been at 2016 values. Sucks for the rest of us that haven't gotten much of a raise since 2016, though. Also, our retirement savings took a huge hit.

 

[badgas]

Houses aren’t as cheap as they were a few years back and not everyone comes from OC. I’m going to be about even money on the move. My company acts like we’re all coming out of OC too. I’m ready to get out of Ca, but Texas wasn’t the plan.

Understood


Most of these " get out of so cal " discussions are based on people leaving so cal where the prices are way less. Wherever we go, we all have to buy where we can afford and maybe that means a little more of a commute. I'm Cypress CA way more expensive than Temecula and way less than Newport Beach. Job transfers are interesting. I had a lot friends who left the South Bay when Toyota moved to Plano and most were all paying cash for houses. Some decided to move to ultra high end suburbs of Dallas and traded High $$ for High $$

I hope you move works out for you

 

[dribble]

Some can, some can’t..

Its working out great for me, and I love Reno area… Tahoe is amazing. Winters are definitely colder but summers are cooler than Murrieta CA.

Where I live, zero homeless… Yeah in downtown Reno you see some.
People drive politely … and are in the left lane for one reason, to pass the slower car in the right… Wow what a concept.
Most people I know have CCW’s but some carry outside the waste band, therefore the “crime rate” is reflective, and lets just say it stupid low compared to any major area in CA.
Property taxs dropped over 70% for me…

I can keep going… but I am a minimum $22,500 in savings thats all going into my investments. That doesnts include cheaper cost of living like gas, grocery’s, DMV, etc etc… That number is when I left, not where it is now….

I’ll give you the DMV but I spend a fair amount of time in Reno. Gas is as expensive as it is here in the Sacramento region. I picked up my CCW renewal in Sacramento yesterday. Real Estate is as expensive as here anymore. The Carson Valley is much higher.

People drive politely? A few years ago I’m on my motorcycle with my GF on the back at highway 80 near Mc Carran and some asshat in a lifted, deleted truck pulled up next to me and tried to roal coal on us. He missed, I flipped him off and he pulled in front of me and started slowing. I pulled all the way over and got off my bike. ( I was armed). The pussy then took off. Another time on the way to Street Vibrations on 80 about 2 miles from the state line a big group of bikes were splitting because the traffic was backed up. The cars with CA plates were moving over then some bitch in a truck with NV plates was trying to block us. We were still in CA. I like Reno but with the exception of the state income tax ( which costs me $200-$500 a year and the DMV fees, it actually costs me less to live here. Here’s a screen shot of Reno gas prices I just took off Gas Buddy. I paid $3.99 for regular here yesterday.

 

[Xring01]

I’ll give you the DMV but I spend a fair amount of time in Reno. Gas is as expensive as it is here in the Sacramento region. I picked up my CCW renewal in Sacramento yesterday. Real Estate is as expensive as here anymore. The Carson Valley is much higher.

People drive politely? A few years ago I’m on my motorcycle with my GF on the back at highway 80 near Mc Carran and some asshat in a lifted, deleted truck pulled up next to me and tried to roal coal on us. He missed, I flipped him off and he pulled in front of me and started slowing. I pulled all the way over and got off my bike. ( I was armed). The pussy then took off. I line Reno but with the exception of the state income tax ( which costs me $200-$500 a year and the DMV fees it actually costs me less to live here. Here’s a screen shot of gas prices I just took off Gas Buddy. I paid $3.99 for regular here yesterday. View attachment 1319032

DUDE… I paid $3.25 ish for diesel at the Smiths in Dayton NV a few days ago… yes, we had .50cent discount for shopping at Smiths… but still thats $3.75 without the discount.

FOR DIESEL….

So lets talk what Diesel costs in San Diego, Orange County, Bay Area, or Sac… lets GET REAL… then lets look at that total savings on an annual basis…

BTW… I stated “I LIVE IN THE RENO AREA”… never said I live in Reno… I live outside of Carson City..…
Which puts me about 35 minutes from the Reno Airport… which is about 90% of the reason I go into Reno…
But it also puts me 35 minutes from the Eastern edge of Lake Tahoe… Picking up what I am putting down.
Got my work/play priority’s on point.

 

[hallett21]

DUDE… I paid $3.25 ish for diesel at the Smiths in Dayton NV a few days ago… yes, we had .50cent discount for shopping at Smiths… but still thats $3.75 without the discount.

FOR DIESEL….

So lets talk what Diesel costs in San Diego, Orange County, Bay Area, or Sac… lets GET REAL…

5.75 this morning in Woodland Hills lol

 

[Xring01]

5.75 this morning in Woodland Hills lol

Take a look at price of Diesel on highway 395 in the middle of no where…
I went thru there about a month ago… it was like $7.99 at a Chevron near Mono Lake… LOL…

 

[dribble]

It’s gone up here but it’s in the $4.39
range. And diesel is in the $4.99 range.

 

[angiebaby]

I’ll give you the DMV but I spend a fair amount of time in Reno. Gas is as expensive as it is here in the Sacramento region. I picked up my CCW renewal in Sacramento yesterday. Real Estate is as expensive as here anymore. The Carson Valley is much higher.

People drive politely? A few years ago I’m on my motorcycle with my GF on the back at highway 80 near Mc Carran and some asshat in a lifted, deleted truck pulled up next to me and tried to roal coal on us. He missed, I flipped him off and he pulled in front of me and started slowing. I pulled all the way over and got off my bike. ( I was armed). The pussy then took off. Another time on the way to Street Vibrations on 80 about 2 miles from the state line a big group of bikes were splitting because the traffic was backed up. The cars with CA plates were moving over then some bitch in a truck with NV plates was trying to block us. We were still in CA. I like Reno but with the exception of the state income tax ( which costs me $200-$500 a year and the DMV fees, it actually costs me less to live here. Here’s a screen shot of Reno gas prices I just took off Gas Buddy. I paid $3.99 for regular here yesterday. View attachment 1319032

Washoe County (Reno) has higher fuel taxes than other nearby counties. We always filled up in Carson or Fernley whenever we were traveling. It was about 30-40 cents higher per gallon a couple of years ago.

 

[530RL]

Anyone that pays the listed tax rate, needs to hire a better tax guy
While the increase sucks, it will impact those less fortunate then the majority of RDP members.

The goal at least for myself is to have the absolute best tax guy, and still have to pay the highest marginal rate on the last dollars earned.

With that goal in mind, I'm always concerned about the highest listed marginal rate.

 

[BingerFang]

Take a look at price of Diesel on highway 395 in the middle of no where…
I went thru there about a month ago… it was like $7.99 at a Chevron near Mono Lake… LOL…

If you’re out of fuel in the middle of nowhere you deserve to pay a non-competitive price. Lol

 

[Singleton]

The goal at least for myself is to have the absolute best tax guy, and still have to pay the highest marginal rate on the last dollars earned.

With that goal in mind, I'm always concerned about the highest listed marginal rate.

Only 2 professionals, where I don’t ask the cost (ranked in priority).
1) my daughters cardiologist
2) my tax attorney

 

[LazyLavey]

Newsome gave free health care to Illegal aliens starting yesterday at a estimated cost of over three billion dollars a year with no funding to pay for it. And don't forget the train to no where that has cost California taxpayers billions of dollars a year! Democrats, incompetent, liars, failed and ineffective!

well that's gonna cut into the reparations slush fund....

#I Wants Mines

 

[Bigbore500r]

5.75 this morning in Woodland Hills lol

And 3.99 in Compton . . .

The gas stations are fucking everyone hard, it's not all the State.

 

[samsah33]

Here's my Kalifornistan rant for today. My 17yo daughter (18 in May) just landed her first job. In order to work and because she's under 18, she needs a work permit, and her school needs to approve. I've never heard of this and am just floored. There's already child labor laws on the books, but still, the school, not me, gets the final word on whether or not my daughter can take this job. Let that sink in. The school has the final say on whehther or not my child works. One more time. The school has the final say on whether or not my child works.

 

[hallett21]

Here's my Kalifornistan rant for today. My 17yo daughter (18 in May) just landed her first job. In order to work and because she's under 18, she needs a work permit, and her school needs to approve. I've never heard of this and am just floored. There's already child labor laws on the books, but still, the school, not me, gets the final word on whether or not my daughter can take this job. Let that sink in. The school has the final say on whehther or not my child works. One more time. The school has the final say on whether or not my child works.

I could be wrong but I thought that was a federal requirement?

I think you have to be 18 to legally drop out of high school as well.