Bodybuilding.com Information Motivation Supplementation
in:

    The World’s #1 Bodybuilding And Fitness Forum - Save Up To 50% Off Retail Prices In Our Bodybuilding.com Store!

Reply
Results 1 to 3 of 3
  1. #1
    Methodological Naturalism tk217's Avatar
    Join Date: Jan 2010
    Posts: 31,948
    Rep Power: 10111
    tk217 has reached the pinnacle! Best possible rank! (+1000000) tk217 has reached the pinnacle! Best possible rank! (+1000000) tk217 has reached the pinnacle! Best possible rank! (+1000000) tk217 has reached the pinnacle! Best possible rank! (+1000000) tk217 has reached the pinnacle! Best possible rank! (+1000000) tk217 has reached the pinnacle! Best possible rank! (+1000000) tk217 has reached the pinnacle! Best possible rank! (+1000000) tk217 has reached the pinnacle! Best possible rank! (+1000000) tk217 has reached the pinnacle! Best possible rank! (+1000000) tk217 has reached the pinnacle! Best possible rank! (+1000000) tk217 has reached the pinnacle! Best possible rank! (+1000000)
    Visit tk217's BodySpace
    tk217 is offline

    Why is the US poverty level based on % of gross income?

    Rather than say % of income net after tax?
    /l、
    (゚、 。 7
    .l、゙ ~ヽ
    .じしf_, )ノ
    ϾNeutral CrewϿ
    Reply With Quote

  2. #2
    Vagina Whisperer TaeBoNinja's Avatar
    Join Date: Sep 2009
    Location: United States
    Stats: 6'3", 205 lbs
    Posts: 11,740
    Rep Power: 6131
    TaeBoNinja has reached the pinnacle! Best possible rank! (+1000000) TaeBoNinja has reached the pinnacle! Best possible rank! (+1000000) TaeBoNinja has reached the pinnacle! Best possible rank! (+1000000) TaeBoNinja has reached the pinnacle! Best possible rank! (+1000000) TaeBoNinja has reached the pinnacle! Best possible rank! (+1000000) TaeBoNinja has reached the pinnacle! Best possible rank! (+1000000) TaeBoNinja has reached the pinnacle! Best possible rank! (+1000000) TaeBoNinja has reached the pinnacle! Best possible rank! (+1000000) TaeBoNinja has reached the pinnacle! Best possible rank! (+1000000) TaeBoNinja has reached the pinnacle! Best possible rank! (+1000000) TaeBoNinja has reached the pinnacle! Best possible rank! (+1000000)
    Visit TaeBoNinja's BodySpace
    TaeBoNinja is offline
    Originally Posted by tk217 View Post
    Rather than say % of income net after tax?
    Do people below the poverty level even pay taxes?
    Reply With Quote

  3. #3
    Methodological Naturalism tk217's Avatar
    Join Date: Jan 2010
    Posts: 31,948
    Rep Power: 10111
    tk217 has reached the pinnacle! Best possible rank! (+1000000) tk217 has reached the pinnacle! Best possible rank! (+1000000) tk217 has reached the pinnacle! Best possible rank! (+1000000) tk217 has reached the pinnacle! Best possible rank! (+1000000) tk217 has reached the pinnacle! Best possible rank! (+1000000) tk217 has reached the pinnacle! Best possible rank! (+1000000) tk217 has reached the pinnacle! Best possible rank! (+1000000) tk217 has reached the pinnacle! Best possible rank! (+1000000) tk217 has reached the pinnacle! Best possible rank! (+1000000) tk217 has reached the pinnacle! Best possible rank! (+1000000) tk217 has reached the pinnacle! Best possible rank! (+1000000)
    Visit tk217's BodySpace
    tk217 is offline
    Originally Posted by TaeBoNinja View Post
    Do people below the poverty level even pay taxes?
    If you're single with no exemptions you should pay federal taxes (excluding SS/Medicare-caid) and excluding state taxes.

    So, yes.

    20K
    -3.8k
    -5.8k
    _____
    9.6k
    10.4k @ 10% = 1140.

    Only people making 9.6K gross are "federally" tax free -- they still pay taxes such as SS Medicare, gas tax (if own a car and fuel it up) sales tax (if they don't grow their own food) land tax (if they own property).

    Poverty level is 10890 Gross in America currently -- so even they will pay some federal tax. about.. 1690 so... 170 dollars.

    The main problem with poverty calculations is they don't include "housemates" (roommates) in these calculations.

    Technically in these calculations -- people living in poverty should be much higher given the threshold but we don't count college students living in dorms, those in shelters, runaways, or people in jail/prison.

    Basically if you're making 10K a year gross -- and let us say you were self-employed...

    2.9% for meidcare/caid
    10.4% for self employed.

    So, you got your 169 federal tax right off the bat
    then you pay

    1618.37 is your SS/Med/Fed tax which brings your net to at least 9271.63.

    Let us say you had an apartment you shared with 2 other people at 600 a month (and it included all utility also crazy)
    200*12 =2400
    Leaves you with 6871.63.
    You can't afford a car so you walk or bike
    Your employer (as you are self-employed and clients don't give you that) isn't getting you health insurance (but you'll soon be required to get it) so let us say you are young and healthy and can get a plan that only costs you 100 a month.

    That leaves with you 5671.63.

    Let us say you spend at least 300 a month on food.
    If you have a phone (likely a cell phone) you're paying 40 dollars a month.

    1591.63.

    That is your savings per year. This is under the assumption you have no debt, you don't get sick (deductible would be like 2000 on an insurance plan like that for a single person or it would include some co-pay).

    And what about dental insurance? Like 25-50 a month?

    420 probably would have a 200 dollar deductable too.

    1171.63...

    Good chance you'll get hit by a car, hurt yourself in the winter while riding/walking to work, and you will have cavities too and you will get sick. Just "living" will eat up those savings.
    Last edited by tk217; 11-02-2011 at 05:52 PM.
    /l、
    (゚、 。 7
    .l、゙ ~ヽ
    .じしf_, )ノ
    ϾNeutral CrewϿ
    Reply With Quote

Reply

Similar Threads

  1. Replies: 0
    Last Post: 03-29-2008, 04:00 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts

Home Store Products Careers Help Contact Us Terms of Use Checkout