10/25/07: Mal, that's tough to add up...

Posted by: Xur


considering the sheer number and methods of taxation we're subject to.

For income tax, as a US and New York city and state resident, I pay about 40% of my income in taxes. Plus the various withholdings. Plus another 15% into the retirement account (until the maximum allowable contribution, anyway). Plus a sales taxes of 8.375% on every item.

I don't know where you live, so I'll put it in terms X-Man can understand. According to CNN's cost-of-living calculator, if I made $100,000 in NY, I'd only have to make $43,000 in Houston, TX, for the same standard of living. Well, not the exact same, obviously. I'd be in Texas, after all.

http://cgi.money.cnn.com/tools/costofliving/costofliving.html?step=result&current_salary=100000&fromStateMenu=NY&from_city=New+York+%28Manhattan%29+NY&toStateMenu=TX&to_city=Houston+TX&x=24&y=10


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