I hate taxes, but "50%" drastically overstates it. Assume an income of $100k. Tax brackets here: https://www.nerdwallet.com/article/taxes/federal-income-tax-brackets … ~17% to federal gov. avg state income tax maybe 4%? now we're up to 21% of income. real estate, car, sales tax ... we're up to perhaps 26% or so.https://twitter.com/BuucketHe4d/status/1303337850327502848 …
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I have both hourly-employee and self-employment income, and live in a state with no income tax. My hourly pay is taxed at very close to 20%. I send 1/3 of my self-employment profits to IRS as estimated taxes; that should work out about right.
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