Household Income of $100,000 = $66,000 take home in America

[Cesarbruh]

did you not read my post?

Um... How is it "slavery" when you voluntarily select (elect) those who make the laws which lead to that taxation?

1. I don't own my labor.
2. I can't opt out. (inb4 leave the country)
3. If I contest, I get thrown in a cage.
4. If Big Brother owns my labor, he essentially owns me.
Again, at least have the decency to call it for what it is...


Brb don't own your own body, brb don't own your own land, brb don't own your own labor

Murica`

[Heldire]

When doing an assignment, I read from the Australian Bureau of Statistics that something like 80% of Australians consider themselves middle class, when it is only possible for 40% of to be middle class. 30% lower, 40% middle, 30% upper. Of those 30% upper, 15-20% thought they were just upper middle, not true upper class.



//dear diary

[thc sargon]

What welfare leecherd? You do realize that 25 cents out of every dollar earned goes to the 1% right?

This is true, the rich has fooled America to blame te poor but in reality the rich are robbing everyone blind!!! Dead freakig srs

[nutsy54]

This is true, the rich has fooled America to blame te poor but in reality the rich are robbing everyone blind!!! Dead freakig srs

Still waiting for someone to prove Tony's ridiculous claim...

[4SetsOfKegels]

Id like to become wealthy to the point where I don't need to argue about taxes.

[dannyg1217]

What welfare leecherd? You do realize that 25 cents out of every dollar earned goes to the 1% right?

What's you're source on this and how exactly


Edit: all of us can make up stats

[cashinout]

America has some of the best tax rates on the planet

Brb in Europe 100k = 33k take home

[nobbysnuts]

This is what happens when u don't manage your money properly and make poor financial decisions

[Kitavi]

America has some of the best tax rates on the planet

Brb in Europe 100k = 33k take home

Which, of course, is bullshít. There is not a single EU country where you get less than half of your salary ...

[coalpower32]

someone has to pay for shon'telle's welfare check

[HMFIC_BROWSIN]

Or you can be like me, decide against ever having kids or getting married, now $30k take home is more than enough.

[PLoverMind]

Which, of course, is bullshít. There is not a single EU country where you get less than half of your salary ...

Wrong. Maybe if you're poverty. Even in the US, the highest Federal income tax bracket is almost 50% alone. This doesn't include the myriad of other assorted bullshyt that is also taken out of your paycheck (varies by country and is incredibly high in many EU countries, but in US, this would include: Social Security Tax, Medaid/Medicare Tax, State tax, and Municipality Tax)

Chart 6.7: Top marginal personal tax rate and full statutory corporate tax rate



Also, NO rich person pays less than 28% Federal tax on their income - Alternative Minimum Tax. http://en.wikipedia.org/wiki/Alterna...ax#cite_note-1
NOMATTER HOW MUCH they reduce AGI, their effective tax rate will be 28% (excluding capital gains)

To the people saying "LOL @ paying more than 20% in taxes," that needs be prefaced by the caveat that you also don't make a lot. The more you make the higher your tax rate. Anyone making 2-300k+ will be paying out of the ass, regardless of any "shelters" lol. (although they are likely smart enough to get their AGI low enough that they only pay the AMT-28%)

For example, IRA has a $5.5k limit, and 401(k) has a $17.5k limit. YES, this reduces your taxable income by $23k, which is a very portion of your salary if you make $70k. If you make $250k, not so much

[Kitavi]

Wrong. Maybe if you're poverty.

Poverty, mkay ...

For each country, they calculated how much a high earner on a salary of $400,000 (£240,000) in 2013, with a mortgage of $1.2m (£750,000), would have left after all income tax rates and social security contributions.

They assume this person is married with two children, one of them aged under six.

These are their findings. In each country, the wage earner takes home the following proportion of his or her salary.

Italy - 50.59% (takes home $202,360 out of $400,000 salary)
India - 54.90%
United Kingdom - 57.28%
France - 58.10%
Canada - 58.13%
Japan - 58.68%
Australia - 59.30%
United States - 60.45% (based on New York state tax)
Germany - 60.61%
South Africa - 61.78%
China - 62.05%
Argentina - 64.02%
Turkey - 64.64%
South Korea - 65.75%
Indonesia - 69.78%
Mexico - 70.60%
Brazil - 73.32%
Russia - 87%
Saudi Arabia - 96.86% (so you take home $387,400 out of the $400,000 salary)

Yes, there is basically added taxation on the child-less (which makes sense in Europe because pension funds work differently here, its a generational contract between the young and the old).

Difference is: no one gives a fuk in Europe, because we enjoy our standard of living.

[High4Lyf]

sounds depressing ...

dat feel when probably 5 yrs younger than u and already make more than ur gross family income on my own.

dasheitmaine

[JellySausage]

Did the OP explain where the $350 a week on groceries and "products" goes each week?

Or, why he has 2 car repayments and doesn't simply own two cheap cars outright?

OP you are bad at managing money, this is not America's problem.

[PrivilegeCheker]

How do you spend 1400 on food and household items? ??
Do you eat lobster for every meal? 300 should be enough. Maybe 500. But 1400,.. idk brah

[AniMaLizTik]

This is what happens when u don't manage your money properly and make poor financial decisions

I'm thinking this. OP if you were to give me a detailed list of every penny you have spend in the last 30 days, I could more than likely show you how to save.

If you and your wife are like most americans you need your starbucks, pepsi's, chick-fila, premium cable, iphone, etc....and you drive a fcking JEEP. These things will make or break savings.

Personally, I'm not buying your sob story.

My wife and I share a cell phone, a car, buy generic everything at Wal-Mart, eating out is a once a month treat and we still save lots of $ and we're happy.

[tk217]

How do you spend 1400 on food and household items? ??
Do you eat lobster for every meal? 300 should be enough. Maybe 500. But 1400,.. idk brah

Household items includes clothes, linens, cookware, toiletries, furniture.

If any of these people buy a fancy 4k TV for say 3K you are adding immediately $250 or so a month.

More than one person in the house it goes up.

[HI_KKM]

ITT: people don't realize that the US is ranked #1 in median equivalized disposable income (PPP)

[brianphi]

OP spends more than he should... blames obama.


Be wise with your money op. Our house hold income is over double yours and we have 0 car payment (I drive a prius and don't give a fk), modest mortgage. You're killing yourself in debt for things you could probably live without.

But you're right... it's Obama fault you entitled fk.

[High4Lyf]

I'm thinking this. OP if you were to give me a detailed list of every penny you have spend in the last 30 days, I could more than likely show you how to save.

If you and your wife are like most americans you need your starbucks, pepsi's, chick-fila, premium cable, iphone, etc....and you drive a fcking JEEP. These things will make or break savings.

Personally, I'm not buying your sob story.

My wife and I share a cell phone, a car, buy generic everything at Wal-Mart, eating out is a once a month treat and we still save lots of $ and we're happy.

true alpha recognized repped

OP spends more than he should... blames obama.


Be wise with your money op. Our house hold income is over double yours and we have 0 car payment (I drive a prius and don't give a fk), modest mortgage. You're killing yourself in debt for things you could probably live without.

But you're right... it's Obama fault you entitled fk.

lmfao tell them brah, op either make more or spend less u poverty peasant

[LatinoSlayer91]

since I drive a jeep. But I choose to work where I do because of the people I work with.

Not willing to make the sacrifices necessary to make it on that income

You are living above your means like every american

[FingerNailsBrah]

Who takes a look at their budget for the first time AFTER buying a house? Our mortgage lender required to see a budget before sending the loan to underwriting.

[High4Lyf]

Or you can be like me, decide against ever having kids or getting married, now $30k take home is more than enough.

or don't be a lazy dumb ******* and make more than that ?

[GDPONE]

1. Invest in a good accountant now. Doesn't matter how much you make, a good accountant is as important as a good lawyer.

2. Start putting money into your 401k. Uncle Sam is giving you an out to pay less taxes and you are not taking advatanage of it.

It kind of blows my mind that a lot of people complain about paying taxes yet dont take advantage of the tools that are offered to lessen the burden. It's like complaining about being hungry when there is a steak sitting right in front of you.

I should start a financial education company that teaches the basic concepts in plain English without the finance terms and jumbo jumbo.

You still get taxed when you withdraw on the 401k. But I guess it does reduce tax burden on your paychecks.

[HI_KKM]

this thread is why they say

"if you aren't a liberal at 20, you've got no heart; if you aren't a conservative at 30, you've got no brain"

[All-Star11]

looks like you are living beyond your means tbh

Why the high household goods/food cost?

This!
OP spending too much on chit and $100 steaks

[leafs43]

Just think, those lines for social security and medicare in your paycheck is money you or your kids will never ever collect on.

[GDPONE]

this thread is why they say

"if you aren't a liberal at 20, you've got no heart; if you aren't a conservative at 30, you've got no brain"

Or you could be a non bandwagon retard and be both like a well adjust human being.

[GabrielNovar]

true.....now factor in living in a high cost city were 3-5k per month gets you sheet!