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Texas Attracted California Techies. Now It’s Losing Thousands of Them. (www.texasmonthly.com)

submitted 6 months ago by [email protected] to c/[email protected]

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The “Texas Miracle” loses some of its magic as Oracle announces it’s moving its new HQ out of Austin and Tesla lays off nearly 2,700 workers.

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[–] [email protected] 6 points 6 months ago (1 children)

Texas has a base sales tax of 6.25, which can be raised by local taxes up to 2%. So it is effectively 8.25% everywhere.

[–] [email protected] 1 points 6 months ago (1 children)

Ok? But that income tax is huge…

I hadn’t considered the fact that some people make money under the table and/or illegally. And this pay not income tax in either state, but a ton of sales tax.

I highly doubt a large amount of that in a 2% local sales tax county is what causes this. If so, that’s crazy.

[–] [email protected] 6 points 6 months ago (1 children)

I feel part of the confusion may be thinking california has a flat tax? It has tax brackets, which increase the percent as you make more.

[–] [email protected] 1 points 6 months ago

Yeah, starts at 1%, hits 9% by 68k income. I’m not misunderstanding that. Not seeing how 1% < 0%.