by The Dude » Tue Nov 27, 2012 1:50 am
It's very easy for a single person taking only the standard or state deduction for their taxes to be well over 30%.
7.5% FICA (normally)
$100k salary is roughly 20% federal taxes
California is 6% or so on that.
That's over 33%. And ignoring sales taxes and the gas tax. And auto registration fees (that's a tax) or taxes on your phone and power and water bills. And really it's another 7.5% because workers eat the other FICA part in lose wages (so over 40%). Depends on where you live, of course.
Most people in those brackets don't pay that much because they're married or have kids or pay alimony or give to charity or have a mortgage or have student debt, blah blah blah. But in reality you start with 15% going to taxes/lost wages and work up from there.