So much money. Do people really need to be paid that much?!
Even for a married couple earning 500k in high-income-tax California, effective tax rate (as opposed to marginal tax rate) is only 30-35%, and that includes the employee portion of Medicare/social security (the latter of which cuts out around 110k).
The exact effective tax rate will vary mostly with your mortgage interest deduction.
Massive assumption you are making regarding home ownership.
5% higher for $500k