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I heard on the news today that Cam Newton will pay $ 159,535,00 in income tax to CA, win or lose, for the Super Bowl. His effective rate is 195% on the money he gets from the SB. I don't understand how he can pay the same, win or lose, because winning pays more. But I do know that CA charges income tax based on the amount of time you spend in the state divided by your total income for the year, being (#days/366) for 2016. I think it is that or 11.2%, whichever is greater.
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Another good reason for it to slide into the ocean. And please take Cam with you.“Outside of a dog, a book is a man's best friend. Inside of a dog, it's too dark to read.” - Groucho MarxComment
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Agreed."in order to lead America you must love America"Comment
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I heard that too but I don't understand how it only applies to Cam Newton. A report on the radio said he'll pay 99.8% of his earnings from the SB to California. That state does have ridiculously high state income tax tho. The top rate is 10.5% and applies to anyone making over 52k a year. The max rate for 48 other states is 5% (I don't recall the other outlier). A billionaire in Michigan, for example, pays half the rate as someone making 52k in California. Add the 8.5% sales tax and the state is taking 19% of your money before you factor in federal and local taxes/fees.Last edited by Mike; February 4, 2016, 11:58 AM.Comment
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And the cost of living is so high and there's the sense of impending doom from earthquakes or mudslides or various other natural disasters. Yet, love it or hate it, California continues to be a centre of commercial innovation and excellence. The landscape and weather give it a leg up, but that can't be all there is to it.Comment
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There are definitely a lot of positives but they didn't outweigh the negatives, IMO. Now if I hit the Poweball, SoCal will be on my short list to set up shop.Comment
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Not me. I'd be burying nukes along the fault lines and have a buckeye reunion scheduled in LA.“Outside of a dog, a book is a man's best friend. Inside of a dog, it's too dark to read.” - Groucho MarxComment
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Lol! Also on the table!Comment
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Absolutely."in order to lead America you must love America"Comment
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Yup.Another good reason for it to slide into the ocean. And please take Cam with you.
What I found interesting is that the tax is his whole salary times the amount of time he spends in CA. So if Cam stays until Monday, that is 8 days. Assuming that the Panthers play one game in CA in 2016, that would be two more for a total of 10. So the tax owed is 10/366 of Newton's full salary earned in 2016. That is why he loses money by playing in the SB. And that 10/366 is also figured on any shoe deal or advertising Newton gets paid for.Comment
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Flyspeck Minnesota.“Outside of a dog, a book is a man's best friend. Inside of a dog, it's too dark to read.” - Groucho MarxComment
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****impressed that Hoss knows about Otisville******"in order to lead America you must love America"Comment
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Does anybody know anything about the water table around Flint?
If the lead is leaching from the pipes because of the "stirred up and acidic" water from the Flint River, why not dig several wells and flush the pipes, then drink the well water. Wells have to be substantially cheaper than shipping in water in bottles, and most wells in Michigan produce potable water.Comment
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