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View Diary: Oh Noes!!--Phil Mickelson (R-Golf) Might Retire, Citing (Incorrectly) Tax Hikes on Top 1%--Boo-hoo. (302 comments)

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  •  Michelson income cut by 16%, leave CA gain 30% (0+ / 0-)

    Taking the diary's estimated tax rates of 57% as his current tax rate and 48.6% prior to the Federal and California increases means Michelson's marginal after tax income is cut by 16.3%.  People look at these issues based upon what they have in after tax income.

    Michelson will likely move from California to one of the no income tax states - so his new tax rate would become just the federal 43.4%.  By doing this his after tax income will be 30% higher than if he stays in California.

    The most important way to protect the environment is not to have more than one child.

    by nextstep on Mon Jan 21, 2013 at 02:21:47 PM PST

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