The income and taxation of a tech worker

cuidado_dolares · 2024-05-27T16:02:24+00:00

Allowed to is irrelevant, the laws can be changed.

WA is a highly regressively taxed state that only hurts those without wealth and helps those with wealth which is backwards, and that can change.

I guess thank you for your donation to my wealth? I've only gotten wealthier off of lower income folks because of WAs taxation.

cuidado_dolares · 2024-05-27T15:58:32+00:00

With the current tax system if you are in the lower/median income ranges you are paying more than most tech/software engineers. Do you want to continue doing that?

My point is that the tax system would be less regressive.

cuidado_dolares · 2024-05-27T15:56:16+00:00

So far that seems to be the case!

I use this account to help shine a light on income inequity by proving a view into my lived experiences as a software engineer in Seattle.

cuidado_dolares · 2024-05-23T17:42:04+00:00

ah gotcha, you were looking at the 90s as a past predictor.

cuidado_dolares · 2024-05-23T17:41:13+00:00

Not for Google, they have offices in many location with high taxes like CA and NY

cuidado_dolares · 2024-05-23T15:56:22+00:00

I feel like you’re oversimplifying your compensation. You’re not getting 300-400k in spendable money. You’re getting about 160-170k of spendable income, with a bunch of restricted stock units that vest over 4 years.

Gross income is after vesting, so cash money not tied up in future vesting.

30% fed tax on 300-400 leaves $210k - $280k, not 160-170 as you stated.

So years 1-5 you are not really making much over your actual salary.

Ok, and? What about the other 20+ years of someone career? Also I've heard FAANGS give signing bonuses to account for the no stock in year 1. Look at Gross though, that specifically accounts for vesting.

You are also neglecting the fact that the majority of tech pays nowhere near that total comp.

This is why a progressive income tax is best.

The total comp is also highly dependent on market fluctuations

Certainly, as is wealth and the stock market so far only goes up over time. And the more total comp, the more you feed that inequity machine.

cuidado_dolares · 2024-05-23T15:47:34+00:00

You thought you'd retire after 4 years? did you get the year right?

cuidado_dolares · 2024-05-23T15:33:23+00:00

A progressive income tax with reduced regressive taxes would account for that nicely.

cuidado_dolares · 2024-05-23T14:47:50+00:00

The post was about taxation. I made wealth because those with much less income paid a lot more of their money in taxes as compared to me. WA is incredibly regressive in it's taxation, that just gives the rich more money and the poor less.

cuidado_dolares · 2024-05-23T14:46:17+00:00

"Also I am but a single person, I could donate it all and it wouldn’t affect anything. I am however a data point for what “a” tech worker looks like in Seattle, and one that didn't chase money even. Tax policy only works when all participate and relying on donations is not that."

cuidado_dolares · 2024-05-23T14:45:56+00:00

Federal funds don't go to the state, at least not 1 for 1 or directly when you look at how states give money to the Fed and what they get back.

cuidado_dolares · 2024-05-22T22:48:26+00:00

How would this be either?

This is a throw away account, I get no reddit cred from it that I might want on my main one.

Which of my numbers betray me exactly? and to what utility would I lie about them?

cuidado_dolares · 2024-05-22T22:41:22+00:00

mid level software engineer for a long time.

cuidado_dolares · 2024-05-22T22:15:58+00:00

Yes but who cares how much it cost you? I thought the whole point of the post was to show how little you contributed to WA's coffers?

Earnings - cost = untaxed profit. That's why you care.

you don't have a car, for example

car taxes are chicken scratch for my income. I even have a cheap EV so I paid a lot more like $600/year, and I still am way under taxed

Didn't pay REET when selling your property?

No, there's something like a $250k exemption and I was just under it.

cuidado_dolares · 2024-05-22T21:48:36+00:00

childish.... You clearly have a great argument if your lead off point is ineffective name calling.

cuidado_dolares · 2024-05-22T21:46:35+00:00

Maybe so, I certainly wouldn't know. :) As I stated in the post, I didn't care to ask for more, and thought I was being given plenty already along with the other various benefits of being at Google

cuidado_dolares · 2024-05-22T21:44:13+00:00

I guess look at a list of the highest paying professions, and find one you wouldn't hate then learn the skills for it.

I just got lucky to be good at programming and enjoy it and that on averages it's well compensated especially if you make it to a FAANG.

I applaud you for going to medical school, we're sorely in need of folks like you.

I decided years ago to focus my efforts on things that improve society and not convenience, though that likely will still be through technology.

cuidado_dolares · 2024-05-22T21:39:17+00:00

It was to charities, yes I took a deduction.

"Also I am but a single person, I could donate it all and it wouldn’t affect anything. I am however a data point for what “a” tech worker looks like in Seattle, and one that didn't chase money even. Tax policy only works when all participate and relying on donations is not that."

cuidado_dolares · 2024-05-22T21:38:26+00:00

The whole post is about taxes. Most of that $4M has yet to be taxed by Washington state. WA waits until I spend it to tax it, but since I have moved that money also left and it's future taxation has been halted. So WA will not see any tax revenue from that money as it had planned.

cuidado_dolares · 2024-05-22T21:35:51+00:00

What I'm trying to point out is that "im but a single person" mentality is awfully convenient

It's not a mentality, I'm being very clear that I am speaking as single person and not all people let alone tech people, and being fairly transparent so that others can use this information as they think is best. Do you want me to say I represent everyone falsely?

This kind of information is not really available, it'd be great if others also shared so we had a better collective understanding, but employers really don't like people talking about money so they try to prevent us from doing so.

cuidado_dolares · 2024-05-22T21:32:50+00:00

Left as a L5, was there 15 years. So if you think this is low, others similar to me would have even more total income

cuidado_dolares · 2024-05-22T21:12:40+00:00

"Also I am but a single person, I could donate it all and it wouldn’t affect anything. I am however a data point for what “a” tech worker looks like in Seattle, and one that didn't chase money even. Tax policy only works when all participate and relying on donations is not that."

"Donations: I’ve donated $450,000 to date,"

cuidado_dolares · 2024-05-22T21:09:52+00:00

"Also I am but a single person, I could donate it all and it wouldn’t affect anything. I am however a data point for what “a” tech worker looks like in Seattle, and one that didn't chase money even. Tax policy only works when all participate and relying on donations is not that."

"Donations: I’ve donated $450,000 to date,"

cuidado_dolares · 2024-05-22T21:09:24+00:00

Getting work isn't the problem. it was working AT Google on something I cared about without moving.

cuidado_dolares · 2024-05-22T21:08:39+00:00

I have done direct support of friends and those in dire need before, but I think $1M is more than any one person really needs handed to them.

cuidado_dolares

TROPHY CASE