Can we talk about the fact that people are paying 10% of their income to live in this dirty crime ridden city? I don't think people comprehend how much money they are spending. If you manage to keep your salary (which some people are able to do), moving out of California to a no tax state means you instantly get a 22% raise. Meaning for every 5 years you will earn the equivalent of 1 extra year of salary, factor in compound interest from investments and it's significantly more in reality.
Going back to the 22% raise number. Why 22% if California income tax is 10%? The 10% income tax takes away after-tax money. So to earn that 10% back you need to make the equivalent of 122% your income in California.
It's just absurd. Either move to a part of California that makes the income tax worth it or get out of the state. San Francisco's weather is not worth 4 years of your life (assuming you work there for 20 years, it's 8 working years if you factor in returns from investments on the money you are saving.)
Going back to the 22% raise number. Why 22% if California income tax is 10%? The 10% income tax takes away after-tax money. So to earn that 10% back you need to make the equivalent of 122% your income in California.
It's just absurd. Either move to a part of California that makes the income tax worth it or get out of the state. San Francisco's weather is not worth 4 years of your life (assuming you work there for 20 years, it's 8 working years if you factor in returns from investments on the money you are saving.)