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.
The bottom 20% of earners aren’t likely to make the same amount in CA vs TX.
California’s minimum wage is $16. Working 40 hours (hard on a minimum wage job for reasons) brings $640 a week. 10.5% of that is $67
Texas’s is $7.25. 40 hours of that job is $290. 13% of that is $38.
In this bad example, a minimum wage earner in California pays almost double the tax than a minimum wage worker in Texas. It’s a bad example for many reasons, including us not taking into account the extra spending power the California worker has after taxes.