1. What occupation did you choose, what is the base salary?
Electrical Engineer; $100,000/year median salary. Roughly $5,000/month after x70% and taxes 2. What state will you live in and what would your state tax bracket be (percent)? California, 1% 3. What is your Federal tax burden (total number)? $11,000 4. How much money will you have per month? $5,000 5. Once you subtract housing cost/rent, medical insurance cost, phone, transportation (and insurance if you have a car), and student loans, do you think you will have enough money to eat? Why/Why not? Probably yes, I know that my dad makes $112,000 per year and we have been completely fine. 6. Do overbearing taxes make you want to consider living in a different state? Why/Why not? And if so, which state? No because I like how California is and have been living here for most of my life. 7. List 5 things that state or federal taxes pay for? Government Debt Social Security Medicare Education Infrastructure
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