> Your Taxes are insane high for medium wage workers
A single person earning $200k in the state of Washington pays ~$52.5k in federal income tax and social security. An effective tax rate of 26%. Is that insanely high?
I am well aware $200k is nowhere near the median wage.
The person I replied to wrote “How is anyone ever supposed to climb the ladder like that?”. Seeing as no one is “climbing the ladder” from earning a median wage their whole life, I looked at the tax rate for an “upper middle” wage salary (which anyone can earn even if their parents had 0 wealth).
Since tax rates for a median salary are much lower than this, I am not sure how it contradicts my point.
A single person earning $200k in the state of Washington pays ~$52.5k in federal income tax and social security. An effective tax rate of 26%. Is that insanely high?