LawBot5000
Member
My parents in NYC have usually made more than twice what I do, but after taxes they are only a tiny bit ahead. When you add in sources of income other than salary, I am often ahead. You pretty much can't speculate in real estate in NY unless you are a billionaire.
You pay income tax locally, at the state level and at the federal level. You pay increased cost of living for EVERYTHING because every person that handles it or sells it is also subject to those higher taxes. Not to mention the various other taxes on things you might want to buy, like gas. What might sound like an outstanding job opportunity in CA or NY is really a trap because most of the salary increase gets pissed away in taxes, fees and higher housing and living costs.
I lost about 20k in salary coming from CA but I ended up with more cash in pocket at the end of every month. All you are doing working in those socialist cesspits is making the government richer.
You pay income tax locally, at the state level and at the federal level. You pay increased cost of living for EVERYTHING because every person that handles it or sells it is also subject to those higher taxes. Not to mention the various other taxes on things you might want to buy, like gas. What might sound like an outstanding job opportunity in CA or NY is really a trap because most of the salary increase gets pissed away in taxes, fees and higher housing and living costs.
I lost about 20k in salary coming from CA but I ended up with more cash in pocket at the end of every month. All you are doing working in those socialist cesspits is making the government richer.