Jaden Hardy buzz

Cawood86_rivals

Heisman
Feb 20, 2005
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30% of that is federal though. You can argue that 11% tax rate on $500k is too high, but that's the only part coming from California.

Also, you'd still clear like $12k a month at 18 years old to play basketball. It makes sense why a kid would choose that route for a year, especially if he believes he's a top 5 pick either way or doesn't like school. Factor in food, gear, etc from the team and endorsement possibilities and it beats playing for free.

Now, you can get that tax free if you don't mind living in Baton Rouge.
Being arrogant is a disease.
 

Cawood86_rivals

Heisman
Feb 20, 2005
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A $500k salary in CA would have an effective tax rate of 42.09% (29.09 fed, 3.7 FICA, 9.3 state, 0 local).
A $500k salary in Lexington would have an effective tax rate of 40.51% (29.09 fed, 3.7 FICA, 5 state, 2.75 local).

It's really not that big of a difference. Also CA has a progressive tax structure where lower earners pay a lower effective rate. A $50k salary in CA would have an effective tax rate of 19.35% whereas the same salary in Lexington would have a rate of 23.76%.
So they lower the price of everything based on your income. So what do you do, carry around a card that shows what your yearly income is? They have gas pumps for folks that make $50K verses the ones that make over a $100K?
 
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Cawood86_rivals

Heisman
Feb 20, 2005
36,711
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A $500k salary in CA would have an effective tax rate of 42.09% (29.09 fed, 3.7 FICA, 9.3 state, 0 local).
A $500k salary in Lexington would have an effective tax rate of 40.51% (29.09 fed, 3.7 FICA, 5 state, 2.75 local).

It's really not that big of a difference. Also CA has a progressive tax structure where lower earners pay a lower effective rate. A $50k salary in CA would have an effective tax rate of 19.35% whereas the same salary in Lexington would have a rate of 23.76%.
Gas price in CA is $4.10
Gas price in KY is $2.84

Yeah....really no difference.... ;)
 

mebeblue2

Heisman
Dec 20, 2009
98,152
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A $500k salary in CA would have an effective tax rate of 42.09% (29.09 fed, 3.7 FICA, 9.3 state, 0 local).
A $500k salary in Lexington would have an effective tax rate of 40.51% (29.09 fed, 3.7 FICA, 5 state, 2.75 local).

It's really not that big of a difference. Also CA has a progressive tax structure where lower earners pay a lower effective rate. A $50k salary in CA would have an effective tax rate of 19.35% whereas the same salary in Lexington would have a rate of 23.76%.
now factor in cost of living
in 2020 the value of a dollar was
1.14 in KY
.87 in CA

costs of living in 2021
KY is -6.51% below the national average
CA is +46.99 above the national average

so it costs you 53.5% more to live in CA
 

Cowtown Cat

Heisman
Aug 23, 2015
24,104
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And many people say that about Kentucky for different reasons. Lot's of reasons to live in California. Not the least of which being close to the ocean, which is a big draw for some. And the cost of living is so high because people want to be there. That's one of the main reasons the cost of living is low in many rural areas. And finally, there are lots of folks who don't mind paying taxes for the services received by society in general.

I know that most on this board don't share that view, and that's why they live in Kentucky. Different strokes.
Maybe ten or twenty years ago. Nobody wants to live in Cali now. People are fleeing from there in droves.
 
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Cowtown Cat

Heisman
Aug 23, 2015
24,104
54,737
100
now factor in cost of living
in 2020 the value of a dollar was
1.14 in KY
.87 in CA

costs of living in 2021
KY is -6.51% below the national average
CA is +46.99 above the national average

so it costs you 53.5% more to live in CA
BINGO! What the hell is wrong with people?! Ate plum up with a bad case of the dumbass! I guess people are trying to say it all evens out?! Lmao unreal. 🤣
 
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Cowtown Cat

Heisman
Aug 23, 2015
24,104
54,737
100
should we even mention the crime rate?
Or the Governor in my post above. He’s an extreme radical. He even threatened to cut off citizen’s utilities last year, if they didn’t abide by the no social gathering “law” they tried to implement.
 
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Eagles_Ball_69

All-American
Dec 19, 2003
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Maybe ten or twenty years ago. Nobody wants to live in Cali now. People are fleeing from there in droves.
Truth...Just ask the folks in Austin and the greater Seattle area...or Tampa and Scottsdale for that matter. Between the pandemic and the growing woke culture, I think it'll continue. I remember reading something about the state of CA grew by something like 20,000 residents in 2020. That was their smallest raw growth in forever. And the growth came almost exclusively from immigrants. It's crazy to think how unattractive of a place it has become...I really think the pandemic and the ability to work virtually is going to promote a huge change in the urban areas. Was listening to a podcast the other day, and it mentioned something like 80-90% of the Manhattan workers sent home during the pandemic had not returned to work. And the prediction was something like 60-75% would never have to. Think about it...If you make $200K in Manhattan, and lived there with your family. But now, you can work from home and have to go in once a month or so? You can literally live anywhere and provide much more for your family? Seems like a no-brainer.
 

RalphDaltonFan

Heisman
Apr 3, 2002
60,142
41,434
113
30% of that is federal though. You can argue that 11% tax rate on $500k is too high, but that's the only part coming from California.

Also, you'd still clear like $12k a month at 18 years old to play basketball. It makes sense why a kid would choose that route for a year, especially if he believes he's a top 5 pick either way or doesn't like school. Factor in food, gear, etc from the team and endorsement possibilities and it beats playing for free.

Now, you can get that tax free if you don't mind living in Baton Rouge.
He'd make more then $500K tax free if he signed with a lot of places in college-the Agents control that $ anyways in most cases, the shoe companies would kick in as well. As explained above-throw in cost of living in LA/surrounding areas as well and there's a lot of $ you'll be losing prior to entering the NBA Draft compared to CBB route.

Not saying he has to go that route-it's just why once the NIL kicks in, CBB should have a major advantage--specifically for a program like UK where they don't have to compete with Pro sports/Pro athletes for appearances, etc...

Nobody cares about Minor League sports and that will never change. Specifically due to the fact that they play at same time the Pro and College alternatives do. Say this knowing G-League is better quality basketball then CBB by far, but still won't watch it and it's just absolutely ignorant by Silver and NBA to have this stupid option. If someone wants to go to the NBA out of HS they should be allowed to do that.
 

Cawood86_rivals

Heisman
Feb 20, 2005
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Hardy may make more on the front end in the G-League but if came to UK and played at a high level and UK made the FF with him being the bell cow....$500K would seem very small if the Likeness law gets passed
 
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lincoln

Junior
Nov 15, 2006
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So they lower the price of everything based on your income. So what do you do, carry around a card that shows what your yearly income is? They have gas pumps for folks that make $50K verses the ones that make over a $100K?
The discussion up until the post I quoted was about income tax, which is what I was addressing. Obviously coastal cities have a higher cost of living. It's one of the reasons I live in Lexington. I think a lot of young basketball players would gladly make the trade of a higher cost of living to live in a big city though.
 
Jul 11, 2007
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Being arrogant is a disease.
um, wut?

 

Cawood86_rivals

Heisman
Feb 20, 2005
36,711
64,715
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The discussion up until the post I quoted was about income tax, which is what I was addressing. Obviously coastal cities have a higher cost of living. It's one of the reasons I live in Lexington. I think a lot of young basketball players would gladly make the trade of a higher cost of living to live in a big city though.
I was talking about the everyday Joe and how they are not able to have anything in a state like that
 

EliteBlue

Heisman
Mar 27, 2009
16,751
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Factor in food, gear, etc from the team and endorsement possibilities and it beats playing for free.
I mean, they get that at a major university too so I wouldn’t really factor that in.

Kentucky has a team barber, team chef, plus campus meal card, plus meals when they are on the road at nice places and then they get endless of the latest Nike shoes to choose from and crazy amount of Kentucky Nike gear.