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.

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.

  • @[email protected]English
    6•22 days ago

    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]English
      1•22 days ago

      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]English
        6•22 days ago

        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]English
          1•22 days ago

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