Comment by vel0city
Where in the US would $140k become $70k after tax? Or do you mean after all other pre-tax adjustments such as insurance, 401ks, in addition to taxes?
Where in the US would $140k become $70k after tax? Or do you mean after all other pre-tax adjustments such as insurance, 401ks, in addition to taxes?
But that's not $140->$70 after tax, that's $140k->$70k after tossing $24k into retirement investment savings, another $5k into healthcare savings, possibly another $1,500 towards healthcare premiums (huge amount of variability there), and then finally taxes.
According to a friend I know who lives in the tri-state area that is what happens to them, but they max out 401K, have insurance etc.