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Do you know a lot of people who earn $1 million/year and live in a $2 million house? A 2:1 home value:income ratio is extremely low.

> If you make 1 million a year and live in a 2 million dollar house. > Property tax in Cali : 20k Income tax in Cali : ~65k

Only 65k taxes on 1 million in income? In California? I'll pay you to do my taxes.

That's for state tax only - federal would be another good chunk on top of that - but yeah, assuming that's all straight-up income (not investments or anything), just the state-level taxes should be about 100k at California's current rates.

You dont pay state income tax on money you pay to the federal gov. Surprised how few people know that.

So on 1m you will pay ~350k to the fed gov- That leaves you with 650k 'net' remaining. CA taxes you on this amount. Hence the 65k for Cali.

I thought USA had low taxes compared to Europe but wtf property taxes