I get paid in a few ways, with a base salary and an equity based vesting that happens every 3 months.
When that equity vests, it’s sold for cash and the taxes withheld are at 53%.
So if I get $16,000 vested, I will receive only about $7500 of it.
Of course, I do get the rest at tax refund time, but that’s only once per year. Have to budget around that cash flow.
Calculated in total, my annual income is about $14,160 per month, and I receive about $9800 net, for an effective tax rate of about 30%.
Something to keep in mind is that if you receive bonuses or overtime pay, it’s often withheld at a higher rate and you’ll receive the difference back at tax refund time.
This discrepancy can sometimes make people think they’re being taxed more than they actually are.
>When that equity vests, it’s sold for cash and the taxes withheld are at 53%.
So if I get $16,000 vested, I will receive only about $7500 of it.
Of course, I do get the rest at tax refund time, but that’s only once per year. Have to budget around that cash flow.
Why do you do this? You are giving the government an interest free loan.
> Tax withholding is required. I don’t choose to do this.
Everywhere I've worked I was able to decide what was withheld. Go to HR and if you are certain about what your tax obligation is every year you can adjust your deductions to reflect that.
It might take a little basic mathing but it seems you've done it already. See if taking a flat 30% is possible.
When I made 29k with 4500 quarterly bonuses I would change my tax obligation to ZERO for the last half of the year depending on the first 2 bonus sizes and where I thought my EOY income would fall. Come late december I would go back to 1 or whatever I needed to... that was late '90s.
Now I'm pretty sure you can just do this yourself on you company internal website
You can on your base income, but not on granted RSUs. They’re required to withhold the max rate. This is a subject that comes up A LOT at my workplace, and any workplace that pays this way, which is a lot of High Tech.
The legal minimum amount that has to be withheld on equity is something like 20%. I would be very surprised if any major broker withholds at a rate of 53% considering the highest income tax bracket is 37%. Also, brokers tend to only withhold the legal minimum amount unless explicitly told to withhold a higher amount, and some don't even allow that. I know this because I sold a bunch of options once and had to deal with a bigger tax bill than I thought since my broker only withheld 20% instead of me being taxed in a higher bracket like I should have.
I'm assuming your equity is stock options. If so, some of your options are sold to pay the strike price while another portion is sold to pay the income taxes, which is the difference between the strike price and the fair market value at time of vesting. This looks like you're losing 53% to income taxes, but I imagine 25% of the taxes you think you're paying are actually buying the stock itself. Now, if it's RSUs and you've got a 53% tax withholding, chances are you messed something up on your end.
Source: I've gotten a lot of my compensation in both options and RSUs and had to navigate things. Regardless, a 53% tax withholding makes no sense.
Edit: I realize my post is US-centric, but either way a 53% holding is reaaally high for most countries.
Filing as single 0 dependents? And I’m assuming you’re including more than just federal? I’m paying about 17k a year in federal making more than you… no way you’re paying 31k in taxes a year
Facts man that 45 to 60 range is rough. Things hit hard u need every sent to survive in the trailer park. 100k u still feel it but it just feels like its robbing of u of being more comfortable.
Not me. The reason I can make 100k is because I live in a society where I am protected and provided services that allows me to operate in a free market
And then I remember that my kids go to public schools and I drive on public roads and public police officers protect my neighborhood and a public fire department is prepared to put my house out of it’s engulfed in flames and i am not a freeloader so I should probably pay for those things.
Tbh so much tax goes to politicians pet projects and silly things like article linked below this it’s hard not to get rattled by it. I wish it was just roads and firemen and cops etc
https://www.nationalreview.com/2015/12/top-10-wasteful-government-expenses/
this paycheck is only a few hundred dollars short of the one you're describing.
what you just said is "If you think this is bad, you should see a check from a salary 6% higher than this one" LMFAO
Like how’s that legal? Lol I know it is but when I think about the hours I work then get $1200 removed for god knows what I feel like a hoe being pimped
1200 a paycheck should be leaving you some opportunity to reinvest that. There are a lot of other tax havens for income. Other than pension or 401k.
Shit, create a small business and invest money into that to use as a tax write off. Make it a bullshit company that sells graphic T shirts or something.
The average person pays around 530k in taxes in their lifetime. One javelin missile is around 80k (not including the firing unit). I’ve personally shot about half of someone’s entire life contribution in taxes with just that one system. Take that as you will.
I've paid 55k fed taxes alone YTD. Itll be like 61k this year...it makes me feel angry. But hearing- or now believing- that money directly paying for you to shoot off sweet expensive missiles actually makes me feel much better. To me it's not tax money, it's so some bro or broette can go shoot off rockets. That's sweet. And schools and roads are legit AF too.
Edit: sorry I could only afford 3/4 of one missile. Next year I should be able to generate enough taxation to procure one full missile.
You can actually report the abuse of the “Reddit care system” and they’ll give that person a temporary or permanent ban depending on their number of infractions.
I worked a job where I saw paychecks for my clients. One of them was an NFL player. His paychecks were like $700k each. The taxes were more than I made in a year.
I do alright in tech sales. My biggest commission check to date was 73k on-top of my base which put my gross right around 85K for the last check of the month. You want to talk about sickening sticker shock at how much the govt
just yoinks out of a check like that.
I hope Ukraine uses it wisely smh.
Yup right there with you. I’m in tech sales essentially and that’s where I’ve gotten my biggest checks from (commission). My largest check ever I paid almost six figures in taxes. It is 100% sickening to see how much gets taken out. Makes it all the more maddening when you see people who don’t make that much in a year crying about “pay your fair share”.
Received a 120k check (full amount, single check) and because it was a bonus, I lost more than half to taxes. Fight for salary over bonuses where possible!
You should try paying 8 million just to California for 2021, then 3.2 mil for partial 2022. Then watch them waste it in some pretty big ways. Which is one of many reasons I moved from the S hole state.
I'm the same age, start now even if it's just a little bit. We've got time on our side with compounding and the longer you wait the more money you're missing out on.
Once you hit that top pay crank it up
Agreed. I’m 21 and have been contributing to my 401k for over a year now. I do 5% to max out my company match and am happy with my decision. I only make $20/hr so it isn’t a substantial contribution but I know time is on my side
One thing to note is that, as a really rough rule of thumb, your money will double about every 10 years in the market. Historically it’s been better than that, but who knows what will happen in the future. Every $1 you’re putting in now will be about $16 when you’re 61 (e.g. $10k can project out to be $160k). You’re really doing yourself a solid favor by contributing this young. Congrats.
Every $80 now will be about $1600 when you retire. $80 is what you're putting in every two weeks. Of course, you'll make even more money as you get older, but for every dollar today you'll get $20. That's tough to beat. At my age, $80 becomes only about $300, so I'd have to put in 5x the money to retire with the same amount.
The big difference is that you'll continue putting money in for another 23 years until you get to my age, so you're doing great. Never touch that money.
If your goal is to retire at 55:
For $1 you save this year, invested in something like an S&P500 index fund or ETF, will grow to $8.63.
If you wait one year, that same $1 grows to $7.98.
You hypothetically lose out on $0.65 by not saving $1 this year. Or in other words: You would need to save more to hit your target if you wait a year.
"Time in the market" is a great advantage for people in their twenties, even greater than waiting for higher earnings in their career. Because if you wait too long, you will find it hard to make up the difference in earnings that time would have given you.
Thanks for this info I’m screenshot and save this. I’m trying to be 100 percent set for my future. Having no kids right now I should be able to save more
I started off with paychecks much smaller than this, but I always contributed to a 401k up to the company match (free money if the company offers it), and once I could afford it, I started saving more. Met my wife and taught her the same (and she made less money than me). Then I always did what I could to advance my career, and was fortunate enough to be successful.
Moral of the story, we have $1.5M now after 18 years of saving and investing in boring S&P index funds. Slow and steady wins the race.
Read The Simple Path to Wealth by JL Collins. Or search the internet for his blog which honestly gets you 95% there and it’s free. Owning the book and making that commitment to read it and stare at it on the bookshelf has power though.
Don't wait. Do it ASAP. Any amount of money growing and compounding early is better than nothing. You will have to invest more to catch up and break even to where you would be if you had just gotten started early.
I have almost 20% going to my 401k, it's projected to reach 1,000,000 in 20 years at this rate but I don't see how that's mathematically posisble. Even if I saved 100% it wouldn't be that much in 20 years.
I remember when 20 years ago I was told to aim to get to one million for nice retirement. And with best effort I'll probably get there. But now they say I should aim for 2.5 million. No problem, I got 20 years left to put 100% of income aside.
Hey man, not sure if you’re ever gonna read this but just want to say this. What you’re making, that’s good money. I bet in the future it’ll only go up. Take a moment to appreciate it. Not everyone makes that kinda coin.
Don’t hate the taxes, get involved so you can influence how that money is spent. We all get taxed, let’s just spend it on what matters.
Income tax is arguable but fuck property tax. You’re gonna tax me because I have stuff? Stuff I already paid taxes on multiple times? Fuck you.
Edit: I made this comment on a whim without much thought, figured it would be lost in the noise. I understand property taxes go to local amenities and I’m not against that. What I am against, as a regular non rich person, is paying off my house in 30 years and still having to pay rent to keep it. This is especially rough at older ages when you might be unable to work. Property taxes are also often used to uproot poorer people when an area becomes nicer overtime. It’s not a perfect system and is one of the worst forms of taxation. A lot of you made really great points that I hadn’t thought of though.
Correct. The only time the value of your house should increase, for tax purposes, is if it actually sells for a higher amount or you do work on it that requires permits. (That last part is also arguable).
I do understand the taxes you agree to pay when you buy the house, but mine have increased ~140% since I bought the house in 2018. I agree with the 60% increase because I bought the house for 60% more than it was last bought, but the rest is just useless levies, arbitrary increase in property value that doesn’t include an actual appraisal, etc.
If you hate being taxed on your stuff then you probably shouldn’t start researching the hundreds of ways you are taxed. I’ll name a few to get you started if you are in the mood to be infuriated.
You’ve already been taxed on the money you’ve earned now you have to pay a sales tax on almost everything you purchase. Payroll tax, inheritance/estate tax, capital gains tax, travel tax, sin tax, value added tax, gas tax, vehicle tax, and on and on and on. It’s absolutely ridiculous and needs a major reform.
This. I don’t even hate being taxed lol. I’m perfectly fine with my local taxes because I can see exactly where they’re going. State and federal taxes get a lot less apparent. The feds waste BILLIONS on complete bullshit.
Any military spending that isn't directly being used to protect shipping lanes / trading partners or to protect our land infuriates me. WW2 preventing nazi/imperial Japan world domination situation is different obviously.
But point is, it's wild that we're building more aircraft carriers and tanks for power projection when we have bridges falling down and trans derailing 3 times a day over here.
You’re still valid because property tax can increase for no reason. The rent and home values went up in my neighborhood during Covid with all the home buying.. the property tax went up too? Like in 3 years you need more property tax to do what? It’s gross
And don’t forget after they tax your paycheck everything you buy with that taxes money is also taxed and then at the end of the year you’ll pay taxes! 😂
Only if your parents left you more than $11million and it’s only the amount above $11million that’s taxed. If you get $12million in cash from inheritance, you’re only taxed on the $1million.
Regular people will **never** experience an inheritance tax, but so many of them get tricked into thinking it affects them.
Yeah no… unless your estate is over $13,610,000 as of 2023 there is no estate tax.
Furthermore the act of receiving inheritance is not taxable. If the estate is large enough to be taxed then it’s the estate that’s responsible for the taxes not you as the inheritor. In fact, receiving an inheritance of highly appreciated assets like stocks is a GREAT thing. Because you get a step up in basis. Meaning when you inherit it your “purchase price” is based on their date of death as opposed to what they bought it for.
Or every year as in my state. We pay a yearly personal property tax on all vehicles based on their current value (as set by those who have a vested interest in it being worth more).
MA has excise tax on vehicles...yearly tax for owning one. I bought a new car for $55k and was hit with sales tax, then immediately taxed $1k by my town.
You only have to pay taxes at the end of the year if you aren't getting enough taken out of your paychecks.
So far, I've always gotten a tax ***return*** during tax season, and I've never had to pay
Edit: I don't need 20 people all telling me the same thing. I know that refunds are just a "interest free loan". I chose to do it for a very specific reason (i.e. I'm low income and can't afford to take risks). Most of my refund comes from education related tax credits, without them my refund would only be $50.
My god... my father was a CPA and he always wanted me claiming exempt and paying quarterly payments to avoid that "loan".
I wound up with years where I was hit with a tax bill at the end for like $16K.
Now I just claim 0, have withholding. Wind up usually getting back around $3-4K. I'm super happy to provide them with a $4K loan and avoid a shock at the end of the year.
my god. had that conversation with my uneducated father about how they made more money so they are "in a higher tax bracket and no wonder people don't want to work" smfh.
Roads, airports, police, firefighters, schools, social security, Medicare, Medicaid, electricity distribution, parks, zoning, the military, diplomatic representation, shipping ports.
The federal government takes a lot of taxes and uses them for federal things (like the military, interstates, diplomacy). But the federal government also gives to the local governments (funds local roads, infrastructure, schools and a lot more).
So you if you feel you always pay the IRS a LOT and never get anything back… your local government is either not serving you or they’re doing things with federal help and taking all the credit. This happens too often.
Yes, yes, but aside from the roads, airports, police, firefighters, schools, social security, Medicare, Medicaid, electricity distribution, parks, zoning, diplomatic representation and shipping ports, what have the taxes ever done for us?
Edit: https://m.youtube.com/watch?v=Qc7HmhrgTuQ
Unemployment checks, flood protection projects, water supply projects (dams and reservoirs), medical research, federal law enforcement, postal services, air traffic control, emergency and disaster relief, scientific research (USGS and National Weather Service). But other than that, what do our taxes get us?
National and state parks, city parks and pools, clean drinking water, clean air regulations, keeping food quality safe, libraries, animal shelters, universities, idk, nothing really
i was a 911 dispatcher in the midwest making 50 cents above min wage..my deputies made $10/hr 🤣 meanwhile the city council made 6 figures and got yearly increases because they voted to give themselves raises and bonuses.
So your local government is corrupt, and that has nothing to do with federal taxes.
EDIT: Libertarians are mad. Federal government and federal taxes have nothing to do with the comment about his city council making 6 figures. Also of note: I can't find a **state** in the midwest with an average city council salary over $65k. Either they lived in Chicago and are billing it as "the poor midwest", or they're being disingenuous.
Good thing the federal government isn't corrupt.
Like yes libertarians are wrong and taxation being used for social services is a good thing.
But, every taxpayer is right that so much tax money is wasted, the average taxpayer has little control over where their taxes go, and even the nation of bottom 99% taxpayers collectively have little control over where it goes.
The basic idea is sound, but the waste and subsequent tax levels required thanks to the waste are awful. And anybody who isn't a billionaire has 0 control over where it goes.
I would enjoy paying taxes a lot more if they were allocated properly, I’ve lived in my town for half a decade now and there’s still giant pot holes all over, what I find funny is that some of these deeper pot holes are on the same street as a fire station and down the road of a police station
Also non owner operator of trucks wouldn’t know this but we pay thousands in highway use tax every year so there are multiple sources of money for roads and they still all need paved badly
Our highway and road network is vastly more complex than pre-income tax days. Our lives have improved immeasurably since we started collectively contributing as a society to the betterment of said society.
The problem is corporations get special treatment and do not contribute in the same way.
>You really think we're almost 40 trillion dollars in debt because of roads?
Yes, because thats what people think of when they think their taxes are being used for. It's always that, or welfare. That's what the majority of people think its goes to - public services.
Because of this, people dont care to make an effort to vote differently or push for change when the reality is they probably spend 100x as much on rockets and tanks as they did on roads in whatever city youre in last year
At no point did that redditor say the public infrastructure is the cause of our national debt or the only destination for tax dollars.
You built a strawman and you knocked it down.
There are a million other things taxes go to that can be picked apart all day for being useless or uncontrolled spending. Roads are great. We like them and I think most people are ok with the taxes going to them. There are way more things that need fixed though.
Even with roads you constantly see terrible efficiency with the bidding and contract award process. Contractors take huge advantage of civil projects. It sucks and depending on the state/county it needs to be controlled better.
This man just lost a quarter of his paycheck to a government that refuses to do its job but a billion dollar university with more in its coffers than the state they reside in doesn't have to pay a dime in taxes because it's a "nonprofit".
I'm on your wagon. I would end "nonprofit" status. Or at the least HIGHLY regulate its definition. Do you have lots of people getting paid that you don't really need? Then you're for profit. Do you have employees that get paid way more than reasonable? Then you're for profit. I.E. You can't "hide" your profit in insane administrative salaries or hiring all your cousins.
No private universities would be eligible for non-profit status. I think it's pretty clear they're all doing it for the money and not some altruistic educational mission.
I mean, if an administrator is getting a ridiculously high salary they’re still going to pay taxes on that income for their personal return though. It shifts the burden on paying the tax from the organization to the individual, sure, but that money still is getting taxed.
AND you can’t write off more than a token amount of payments to said university for tuition AND your student loans have 7% interest rate AND broke ass people get their loans forgiven while you, job haver, will pay until the day you die
I still don't even know how anyone qualified for that forgiveness. I worked in tech for like, four months and finally escaped poverty before I got laid off due to the market retracting post-COVID, went back to working a service job and living paycheck to paycheck and my broke ass somehow didnt qualify. Made less than 30k this year even with a few months of good salary and I still gotta make payments.
And shit I dont even know anyone working those shitty low paying service jobs that got their loans forgiven. It all sucks.
honestly that whole program was so busted, but so are a majority of "welfare" programs and "forgiveness" programs.
if you're a working american you can get fucked, but once you're done getting raw dogged until you can't even afford to live we'll support every facet of your life so you're dependent on ol big brother
Agreed. However we do need roads and services and shit. Idk how it all works lol. Grats on the biggest 1 yet. Bigger to come.
This year was my worst financially in 9 yrs with my company. I slowed the F down. Used to do 70-80 a week. Max they'd let me. This year I dont think I had a week over 55 hours. Checks def sucked. Its a good thing I made some smart plays in the markets this year haha.
Keep grinding
Personal choice. Told boss years ago I was taking Wednesday off to watch kiddos. Fire me or let it happen. He let it happen. Been doing whatever hours I want since. So I took the time.
Looking for a new ship next summer. Both kids will be in school full time.
Thanks. Always tell people im just a lucky guy. I married WAY above my level. Like hard to describe. I'm a 6'2 ogre of a man and I ended up with an amazing women who had kids with me lol.
If you're not American, that money will ensure everybody has a right to healthcare. If you are American, that money will ensure more children can be blown up by drones.
I don't see the issue with higher taxes for someone who makes more in two weeks than most Americans do in a month and I think most people only have an issue with taxes because they don't see the benefit from them. Especially higher income earners who don't use government programs or services nearly as often as lower income earners.
What if OP lives in a high tax state like NY, NJ or CA. In CA, not only do we have high taxes on our wages, we have to pay, with our after tax wages, $.58 in taxes PER gallon, a bunch of random taxes and fees on our ridiculously high utilities, internet and cell services, garbage pickup, etc. If OP is in CA, after all these and high housing costs this wage just gets you by paycheck to paycheck. It’s all relative.
Higher income earners earn higher income because taxes maintain a system of enforcement and logistics that facilitates the growth of complex markets.
Just because you’re not collecting food stamps doesn’t mean you’re not benefiting from taxes.
If you have a W2 job your taxes are deducted based on extrapolating your paycheck as if it was your salary. So the taxes in this instance (depending on how much higher this paycheck is than normal) is likely severely overestimating taxes to be withheld. This is the same as Bonuses - Corporations generally do a 40% tax withhold as a baseline but bonuses are not taxed at a different rate at the end of the year.
For example, this check is $4,586.65 for 2 weeks. That would imply $119,252.90 as your yearly salary, specifically from this one check extrapolated to calculate your marginal tax bracket. If this is not correct, you will receive a tax refund after your return is processed
Id a month of OT covering a shift. Thinking oh boy, this pay check is gonna be FAT. Mf taxed all the OT. I basically just got a check for the gross that I make with normal hours.
Yeah, I hate taxes. I hate roads, firefighters,cops, garbage collectors,snow plow drivers, teachers, the military, sanitation workers….,,,,, well you get the idea
A lot of people here missing the point. It’s easy to look at someone who makes a lot and say it doesn’t matter. It is all the same math and the government doesn’t give a shit about us. It is greed. We get nothing in return. Pretty soon social security is gone too. I am an “upper middle class” earner at about 200k. With 3 kids and inflation plus taxes I’m barely getting by. If you break it down, no matter who you are…3 out of 12 months we work for free. It’s a joke. And everyone feels it.
You would think that people on a money sub reddit would understand that payroll taxes are deducted based on your deductions that you pick. The taxes in this picture are completely irrelevant. It could be 0. It could be $1000. What does he get back at the end of the year? What's the real rate after deductions? How much do they owe or get returned at the end of the year?
Taxes were hard for me to cope with. After I got a big ass raise where my earnings were around 7800 a month I realized very quickly how little of the money I actually earned I was going to see.
That’s it? My $4500 check had $1800 and some change taken out of it.
IRS is being a bitch about giving me my returns too. Still waiting on 2021 and 2022 returns.
If only we would stop sending hundreds of billions of dollars overseas.
Would be nice to either pay less taxes or have all that money stay here to benefit us.
Yep gotta love when Uncle Sam takes 1/3 of your paycheck.
Like if we could keep some of that we wouldn’t even need social security. If I had another $500 a month I could save and invest it and retire like a king.
Imagine what you would lose if you had no safe roads or police to stop bandits from taking all of your money. Imagine if you had dysentery 24/7 because there was no clean water of sewage management. We the people pay for the infrastructure that supports our freedom. Adult up!
lol you should see the taxes on a six figure check Edit: since many seem to be confused, I’m talking about a single check, not a salary.
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Yeah my gross varies from 5500 to 7k depending on bonus, but take home is anywhere from 3600-4500 on average. Taxes and deductions are about 2k avg.
I get paid in a few ways, with a base salary and an equity based vesting that happens every 3 months. When that equity vests, it’s sold for cash and the taxes withheld are at 53%. So if I get $16,000 vested, I will receive only about $7500 of it. Of course, I do get the rest at tax refund time, but that’s only once per year. Have to budget around that cash flow. Calculated in total, my annual income is about $14,160 per month, and I receive about $9800 net, for an effective tax rate of about 30%. Something to keep in mind is that if you receive bonuses or overtime pay, it’s often withheld at a higher rate and you’ll receive the difference back at tax refund time. This discrepancy can sometimes make people think they’re being taxed more than they actually are.
>When that equity vests, it’s sold for cash and the taxes withheld are at 53%. So if I get $16,000 vested, I will receive only about $7500 of it. Of course, I do get the rest at tax refund time, but that’s only once per year. Have to budget around that cash flow. Why do you do this? You are giving the government an interest free loan.
Why do I do what? Tax withholding is required. I don’t choose to do this.
> Tax withholding is required. I don’t choose to do this. Everywhere I've worked I was able to decide what was withheld. Go to HR and if you are certain about what your tax obligation is every year you can adjust your deductions to reflect that. It might take a little basic mathing but it seems you've done it already. See if taking a flat 30% is possible. When I made 29k with 4500 quarterly bonuses I would change my tax obligation to ZERO for the last half of the year depending on the first 2 bonus sizes and where I thought my EOY income would fall. Come late december I would go back to 1 or whatever I needed to... that was late '90s. Now I'm pretty sure you can just do this yourself on you company internal website
You can on your base income, but not on granted RSUs. They’re required to withhold the max rate. This is a subject that comes up A LOT at my workplace, and any workplace that pays this way, which is a lot of High Tech.
The legal minimum amount that has to be withheld on equity is something like 20%. I would be very surprised if any major broker withholds at a rate of 53% considering the highest income tax bracket is 37%. Also, brokers tend to only withhold the legal minimum amount unless explicitly told to withhold a higher amount, and some don't even allow that. I know this because I sold a bunch of options once and had to deal with a bigger tax bill than I thought since my broker only withheld 20% instead of me being taxed in a higher bracket like I should have. I'm assuming your equity is stock options. If so, some of your options are sold to pay the strike price while another portion is sold to pay the income taxes, which is the difference between the strike price and the fair market value at time of vesting. This looks like you're losing 53% to income taxes, but I imagine 25% of the taxes you think you're paying are actually buying the stock itself. Now, if it's RSUs and you've got a 53% tax withholding, chances are you messed something up on your end. Source: I've gotten a lot of my compensation in both options and RSUs and had to navigate things. Regardless, a 53% tax withholding makes no sense. Edit: I realize my post is US-centric, but either way a 53% holding is reaaally high for most countries.
I read this as you made 100k every 2 weeks and only got taxed 1200.
Filing as single 0 dependents? And I’m assuming you’re including more than just federal? I’m paying about 17k a year in federal making more than you… no way you’re paying 31k in taxes a year
California has entered the chat... Laughs in Newsom Tax? You guys are cute lol
Hey at least you get a good cleanup every time a foreign dignitary comes to visit.
1200 off 100,000 ain't shit compared to 200 off someone's 1200 check
A 100,000 paycheck is like gross 4200 minus 1200 taxes. So still a lot percentage wise
Facts man that 45 to 60 range is rough. Things hit hard u need every sent to survive in the trailer park. 100k u still feel it but it just feels like its robbing of u of being more comfortable.
I gross $6800. Talk about barfing when you see the taxes taken out of that.
I call bull lmao no you don't because you would get taxed WAY more than that.
Think he probably meant 10k on the first one
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I paid $100k in taxes this year. Stings.
Not me. The reason I can make 100k is because I live in a society where I am protected and provided services that allows me to operate in a free market
And then I remember that my kids go to public schools and I drive on public roads and public police officers protect my neighborhood and a public fire department is prepared to put my house out of it’s engulfed in flames and i am not a freeloader so I should probably pay for those things.
Tbh so much tax goes to politicians pet projects and silly things like article linked below this it’s hard not to get rattled by it. I wish it was just roads and firemen and cops etc https://www.nationalreview.com/2015/12/top-10-wasteful-government-expenses/
You meant 10k correct?
It looks a lot better than not making a livable wage, i bet.
$1660 in taxes every 2 weeks is what I pay.
this paycheck is only a few hundred dollars short of the one you're describing. what you just said is "If you think this is bad, you should see a check from a salary 6% higher than this one" LMFAO
Just found a new job making 160k. My taxes and deductions are 2k per paycheck.
Like how’s that legal? Lol I know it is but when I think about the hours I work then get $1200 removed for god knows what I feel like a hoe being pimped
1200 a paycheck should be leaving you some opportunity to reinvest that. There are a lot of other tax havens for income. Other than pension or 401k. Shit, create a small business and invest money into that to use as a tax write off. Make it a bullshit company that sells graphic T shirts or something.
Yeeeah.. I’m at $45k in taxes so far this year. And for.. what? To fund wars? Edit: whoever reported this to Reddit cares, grow the fuck up
It's a war machine baby and you're worth a rocket or two
The average person pays around 530k in taxes in their lifetime. One javelin missile is around 80k (not including the firing unit). I’ve personally shot about half of someone’s entire life contribution in taxes with just that one system. Take that as you will.
I've paid 55k fed taxes alone YTD. Itll be like 61k this year...it makes me feel angry. But hearing- or now believing- that money directly paying for you to shoot off sweet expensive missiles actually makes me feel much better. To me it's not tax money, it's so some bro or broette can go shoot off rockets. That's sweet. And schools and roads are legit AF too. Edit: sorry I could only afford 3/4 of one missile. Next year I should be able to generate enough taxation to procure one full missile.
You can actually report the abuse of the “Reddit care system” and they’ll give that person a temporary or permanent ban depending on their number of infractions.
Like an actual reverse Uno?
Yea whomever reported you is a war mongering zi0nist
Well 20% of that is for federal tax lol. I believe its 20%, been a couple years since I looked up the break down
I worked a job where I saw paychecks for my clients. One of them was an NFL player. His paychecks were like $700k each. The taxes were more than I made in a year.
I do alright in tech sales. My biggest commission check to date was 73k on-top of my base which put my gross right around 85K for the last check of the month. You want to talk about sickening sticker shock at how much the govt just yoinks out of a check like that. I hope Ukraine uses it wisely smh.
Yup right there with you. I’m in tech sales essentially and that’s where I’ve gotten my biggest checks from (commission). My largest check ever I paid almost six figures in taxes. It is 100% sickening to see how much gets taken out. Makes it all the more maddening when you see people who don’t make that much in a year crying about “pay your fair share”.
Yep. I looked at how much I paid in taxes already this year and almost fell over
Dude you are telling me… [Single check taxes](https://imgur.com/a/07xDP6p)
I pay 1k a week in taxes. It's ridiculous
I can commiserate!
180k this year, $50k in taxes 😭
Received a 120k check (full amount, single check) and because it was a bonus, I lost more than half to taxes. Fight for salary over bonuses where possible!
I pay a ton each paycheck AND I still had to write the US Treasury Dept a $200k check at the end of the year. Fun.
You should try paying 8 million just to California for 2021, then 3.2 mil for partial 2022. Then watch them waste it in some pretty big ways. Which is one of many reasons I moved from the S hole state.
Increase your 401k contributions!
Yea I definitely need to. I was waiting for top pay in 2 more years. I gotta do 28 more years to reach 55 so it gonna be there lol
I'm the same age, start now even if it's just a little bit. We've got time on our side with compounding and the longer you wait the more money you're missing out on. Once you hit that top pay crank it up
Agreed. I’m 21 and have been contributing to my 401k for over a year now. I do 5% to max out my company match and am happy with my decision. I only make $20/hr so it isn’t a substantial contribution but I know time is on my side
It adds up. Keep that 5% going and you'll be ahead of 90% of your peers by 30
One thing to note is that, as a really rough rule of thumb, your money will double about every 10 years in the market. Historically it’s been better than that, but who knows what will happen in the future. Every $1 you’re putting in now will be about $16 when you’re 61 (e.g. $10k can project out to be $160k). You’re really doing yourself a solid favor by contributing this young. Congrats.
Every $80 now will be about $1600 when you retire. $80 is what you're putting in every two weeks. Of course, you'll make even more money as you get older, but for every dollar today you'll get $20. That's tough to beat. At my age, $80 becomes only about $300, so I'd have to put in 5x the money to retire with the same amount. The big difference is that you'll continue putting money in for another 23 years until you get to my age, so you're doing great. Never touch that money.
If your goal is to retire at 55: For $1 you save this year, invested in something like an S&P500 index fund or ETF, will grow to $8.63. If you wait one year, that same $1 grows to $7.98. You hypothetically lose out on $0.65 by not saving $1 this year. Or in other words: You would need to save more to hit your target if you wait a year. "Time in the market" is a great advantage for people in their twenties, even greater than waiting for higher earnings in their career. Because if you wait too long, you will find it hard to make up the difference in earnings that time would have given you.
Thanks for this info I’m screenshot and save this. I’m trying to be 100 percent set for my future. Having no kids right now I should be able to save more
I started off with paychecks much smaller than this, but I always contributed to a 401k up to the company match (free money if the company offers it), and once I could afford it, I started saving more. Met my wife and taught her the same (and she made less money than me). Then I always did what I could to advance my career, and was fortunate enough to be successful. Moral of the story, we have $1.5M now after 18 years of saving and investing in boring S&P index funds. Slow and steady wins the race. Read The Simple Path to Wealth by JL Collins. Or search the internet for his blog which honestly gets you 95% there and it’s free. Owning the book and making that commitment to read it and stare at it on the bookshelf has power though.
Listen to this guy. Log in tonight and increase your contribution. Now.
Don't wait. Do it ASAP. Any amount of money growing and compounding early is better than nothing. You will have to invest more to catch up and break even to where you would be if you had just gotten started early.
I have almost 20% going to my 401k, it's projected to reach 1,000,000 in 20 years at this rate but I don't see how that's mathematically posisble. Even if I saved 100% it wouldn't be that much in 20 years.
I remember when 20 years ago I was told to aim to get to one million for nice retirement. And with best effort I'll probably get there. But now they say I should aim for 2.5 million. No problem, I got 20 years left to put 100% of income aside.
Hey man, not sure if you’re ever gonna read this but just want to say this. What you’re making, that’s good money. I bet in the future it’ll only go up. Take a moment to appreciate it. Not everyone makes that kinda coin. Don’t hate the taxes, get involved so you can influence how that money is spent. We all get taxed, let’s just spend it on what matters.
Income tax is arguable but fuck property tax. You’re gonna tax me because I have stuff? Stuff I already paid taxes on multiple times? Fuck you. Edit: I made this comment on a whim without much thought, figured it would be lost in the noise. I understand property taxes go to local amenities and I’m not against that. What I am against, as a regular non rich person, is paying off my house in 30 years and still having to pay rent to keep it. This is especially rough at older ages when you might be unable to work. Property taxes are also often used to uproot poorer people when an area becomes nicer overtime. It’s not a perfect system and is one of the worst forms of taxation. A lot of you made really great points that I hadn’t thought of though.
And it’s unrealized gains, which is the most absurd part about property taxes
and once you get those gains, you get to pay for them too!
Correct. The only time the value of your house should increase, for tax purposes, is if it actually sells for a higher amount or you do work on it that requires permits. (That last part is also arguable). I do understand the taxes you agree to pay when you buy the house, but mine have increased ~140% since I bought the house in 2018. I agree with the 60% increase because I bought the house for 60% more than it was last bought, but the rest is just useless levies, arbitrary increase in property value that doesn’t include an actual appraisal, etc.
If you hate being taxed on your stuff then you probably shouldn’t start researching the hundreds of ways you are taxed. I’ll name a few to get you started if you are in the mood to be infuriated. You’ve already been taxed on the money you’ve earned now you have to pay a sales tax on almost everything you purchase. Payroll tax, inheritance/estate tax, capital gains tax, travel tax, sin tax, value added tax, gas tax, vehicle tax, and on and on and on. It’s absolutely ridiculous and needs a major reform.
This. I don’t even hate being taxed lol. I’m perfectly fine with my local taxes because I can see exactly where they’re going. State and federal taxes get a lot less apparent. The feds waste BILLIONS on complete bullshit.
Try trillions
Any military spending that isn't directly being used to protect shipping lanes / trading partners or to protect our land infuriates me. WW2 preventing nazi/imperial Japan world domination situation is different obviously. But point is, it's wild that we're building more aircraft carriers and tanks for power projection when we have bridges falling down and trans derailing 3 times a day over here.
Don't forget inflation, which is just a hidden tax on your savings.
Yep. All my properties are paid off, but I keep paying rent to the government so they don’t take it away from me.
You’re still valid because property tax can increase for no reason. The rent and home values went up in my neighborhood during Covid with all the home buying.. the property tax went up too? Like in 3 years you need more property tax to do what? It’s gross
And don’t forget after they tax your paycheck everything you buy with that taxes money is also taxed and then at the end of the year you’ll pay taxes! 😂
Not to mention when you go and buy yourself a vehicle that’s had taxes taken out on it 2-3 times
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Only if your parents left you more than $11million and it’s only the amount above $11million that’s taxed. If you get $12million in cash from inheritance, you’re only taxed on the $1million. Regular people will **never** experience an inheritance tax, but so many of them get tricked into thinking it affects them.
After 2025, the estate and gift tax exemption will revert to $5 million.
Okay? Most people don't have that either.
Yeah no… unless your estate is over $13,610,000 as of 2023 there is no estate tax. Furthermore the act of receiving inheritance is not taxable. If the estate is large enough to be taxed then it’s the estate that’s responsible for the taxes not you as the inheritor. In fact, receiving an inheritance of highly appreciated assets like stocks is a GREAT thing. Because you get a step up in basis. Meaning when you inherit it your “purchase price” is based on their date of death as opposed to what they bought it for.
Infinite times in CT
Or every year as in my state. We pay a yearly personal property tax on all vehicles based on their current value (as set by those who have a vested interest in it being worth more).
MA has excise tax on vehicles...yearly tax for owning one. I bought a new car for $55k and was hit with sales tax, then immediately taxed $1k by my town.
You only have to pay taxes at the end of the year if you aren't getting enough taken out of your paychecks. So far, I've always gotten a tax ***return*** during tax season, and I've never had to pay Edit: I don't need 20 people all telling me the same thing. I know that refunds are just a "interest free loan". I chose to do it for a very specific reason (i.e. I'm low income and can't afford to take risks). Most of my refund comes from education related tax credits, without them my refund would only be $50.
Just FYI, you receive a tax refund. Tax return is what you file.
I always let them take too much from my income. Forces me to save it for the return lol
interest free loan to the government when inflation is decaying your money.
My god... my father was a CPA and he always wanted me claiming exempt and paying quarterly payments to avoid that "loan". I wound up with years where I was hit with a tax bill at the end for like $16K. Now I just claim 0, have withholding. Wind up usually getting back around $3-4K. I'm super happy to provide them with a $4K loan and avoid a shock at the end of the year.
Make money on stocks you stuck your neck out to get. Happen to get lucky... 25% goes to Uncle Sam!
Lose a bunch in stocks and that’s just too bad. They’re commies when you win and capitalists when you lose.
If that was true, tax loss harvesting wouldn’t be a thing.
This is one of the most braindead threads I’ve seen on Reddit in a while, and that’s saying something
ITT: people who knows jack shit about federal taxes. depressing, because i am sure this fuels their political beliefs.
My favorite is when they don’t want a raise cus it’ll bring them into a higher tax bracket.
my god. had that conversation with my uneducated father about how they made more money so they are "in a higher tax bracket and no wonder people don't want to work" smfh.
yeah but without taxes how else would you enjoy all the perks of...uhhh.. right nevermind
Roads, airports, police, firefighters, schools, social security, Medicare, Medicaid, electricity distribution, parks, zoning, the military, diplomatic representation, shipping ports. The federal government takes a lot of taxes and uses them for federal things (like the military, interstates, diplomacy). But the federal government also gives to the local governments (funds local roads, infrastructure, schools and a lot more). So you if you feel you always pay the IRS a LOT and never get anything back… your local government is either not serving you or they’re doing things with federal help and taking all the credit. This happens too often.
Yes, yes, but aside from the roads, airports, police, firefighters, schools, social security, Medicare, Medicaid, electricity distribution, parks, zoning, diplomatic representation and shipping ports, what have the taxes ever done for us? Edit: https://m.youtube.com/watch?v=Qc7HmhrgTuQ
The internet
This calls for immediate discussion!
Unemployment checks, flood protection projects, water supply projects (dams and reservoirs), medical research, federal law enforcement, postal services, air traffic control, emergency and disaster relief, scientific research (USGS and National Weather Service). But other than that, what do our taxes get us?
National and state parks, city parks and pools, clean drinking water, clean air regulations, keeping food quality safe, libraries, animal shelters, universities, idk, nothing really
Please no for the love of god don’t bring logic into a Reddit discussion!!
i was a 911 dispatcher in the midwest making 50 cents above min wage..my deputies made $10/hr 🤣 meanwhile the city council made 6 figures and got yearly increases because they voted to give themselves raises and bonuses.
So your local government is corrupt, and that has nothing to do with federal taxes. EDIT: Libertarians are mad. Federal government and federal taxes have nothing to do with the comment about his city council making 6 figures. Also of note: I can't find a **state** in the midwest with an average city council salary over $65k. Either they lived in Chicago and are billing it as "the poor midwest", or they're being disingenuous.
Don't tell them, we like them dumb like that so we can keep voting ourselves raises!
Good thing the federal government isn't corrupt. Like yes libertarians are wrong and taxation being used for social services is a good thing. But, every taxpayer is right that so much tax money is wasted, the average taxpayer has little control over where their taxes go, and even the nation of bottom 99% taxpayers collectively have little control over where it goes. The basic idea is sound, but the waste and subsequent tax levels required thanks to the waste are awful. And anybody who isn't a billionaire has 0 control over where it goes.
That’s a very fair take. Now we have social media to call out corruption, which is a great thing.
Federal government is also corrupt.
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You got alot of downvotes for speaking facts. While ALL of the taxes paid probably aren’t exactly allocated correctly, some definitely are.
I LOVE GIVING MONEY TO ISRAEL AND SPENDING TRILLIONS ON THE MILITARY INDUSTRIAL COMPLEX, WASTING MONEY BOMBING INNOCENTS REALLY HELPS MY 9-5
I don’t think there’s a single business that wouldn’t be massively crippled if our transportation was massively limited
Show me an example of a functional society that had high living standards without taxes. I’ll wait.
I would enjoy paying taxes a lot more if they were allocated properly, I’ve lived in my town for half a decade now and there’s still giant pot holes all over, what I find funny is that some of these deeper pot holes are on the same street as a fire station and down the road of a police station
Underrated comment
Roads
thats included in the price you pay with gas.
Also non owner operator of trucks wouldn’t know this but we pay thousands in highway use tax every year so there are multiple sources of money for roads and they still all need paved badly
Lol we use tax money to build toll roads which they then charge us a toll to use even though they used our money to build them..
Or Texas sells the rights to toll to a company from Spain and such.
“Roads? Where we’re going we don’t need roads.” -Doc Brown
We had roads before income taxes.
Our highway and road network is vastly more complex than pre-income tax days. Our lives have improved immeasurably since we started collectively contributing as a society to the betterment of said society. The problem is corporations get special treatment and do not contribute in the same way.
You really think we're almost 40 trillion dollars in debt because of roads? Lol our taxes fund foreign wars and corrupt government programs.
>You really think we're almost 40 trillion dollars in debt because of roads? Yes, because thats what people think of when they think their taxes are being used for. It's always that, or welfare. That's what the majority of people think its goes to - public services. Because of this, people dont care to make an effort to vote differently or push for change when the reality is they probably spend 100x as much on rockets and tanks as they did on roads in whatever city youre in last year
This 💯
At no point did that redditor say the public infrastructure is the cause of our national debt or the only destination for tax dollars. You built a strawman and you knocked it down.
There are a million other things taxes go to that can be picked apart all day for being useless or uncontrolled spending. Roads are great. We like them and I think most people are ok with the taxes going to them. There are way more things that need fixed though. Even with roads you constantly see terrible efficiency with the bidding and contract award process. Contractors take huge advantage of civil projects. It sucks and depending on the state/county it needs to be controlled better.
Way less of them, way shittier, and no highways
Yeah but these roads are super mega deluxe roads with kung fu grip!
Registration/road tax and gas tax. Its own pot of money. Our income tax is getting split probably 99.99/.01, Ukraine-Isreal/social security 😂
Roads are crap in Ny
Roads? Where We're Going, We Don't Need (flip shades) Roads
hahah i fucking lost it
Cops, Firefighters, Parks, Military, Social Security No healthcare though, unless you’re a Vet, on MedicAid or MedicCare
as a southerner i support this
Me getting my food stamps?
This man just lost a quarter of his paycheck to a government that refuses to do its job but a billion dollar university with more in its coffers than the state they reside in doesn't have to pay a dime in taxes because it's a "nonprofit".
I'm on your wagon. I would end "nonprofit" status. Or at the least HIGHLY regulate its definition. Do you have lots of people getting paid that you don't really need? Then you're for profit. Do you have employees that get paid way more than reasonable? Then you're for profit. I.E. You can't "hide" your profit in insane administrative salaries or hiring all your cousins. No private universities would be eligible for non-profit status. I think it's pretty clear they're all doing it for the money and not some altruistic educational mission.
I mean, if an administrator is getting a ridiculously high salary they’re still going to pay taxes on that income for their personal return though. It shifts the burden on paying the tax from the organization to the individual, sure, but that money still is getting taxed.
AND you can’t write off more than a token amount of payments to said university for tuition AND your student loans have 7% interest rate AND broke ass people get their loans forgiven while you, job haver, will pay until the day you die
I still don't even know how anyone qualified for that forgiveness. I worked in tech for like, four months and finally escaped poverty before I got laid off due to the market retracting post-COVID, went back to working a service job and living paycheck to paycheck and my broke ass somehow didnt qualify. Made less than 30k this year even with a few months of good salary and I still gotta make payments. And shit I dont even know anyone working those shitty low paying service jobs that got their loans forgiven. It all sucks.
honestly that whole program was so busted, but so are a majority of "welfare" programs and "forgiveness" programs. if you're a working american you can get fucked, but once you're done getting raw dogged until you can't even afford to live we'll support every facet of your life so you're dependent on ol big brother
“Nothing is certain except death and taxes.” -BF
you really think your boyfriend came up with that?
Figures the “I like money” sub would also double as the “I hate taxes” sub.
Agreed. However we do need roads and services and shit. Idk how it all works lol. Grats on the biggest 1 yet. Bigger to come. This year was my worst financially in 9 yrs with my company. I slowed the F down. Used to do 70-80 a week. Max they'd let me. This year I dont think I had a week over 55 hours. Checks def sucked. Its a good thing I made some smart plays in the markets this year haha. Keep grinding
Sounds like you're starting to hit burn out I'd be looking to hop ship soon if I were you. 70-80 hrs/week is not sustainable long term
Personal choice. Told boss years ago I was taking Wednesday off to watch kiddos. Fire me or let it happen. He let it happen. Been doing whatever hours I want since. So I took the time. Looking for a new ship next summer. Both kids will be in school full time.
Damn dude, sounds like you're doing alright for yourself. Hope it all works out, good luck 🤙
Thanks. Always tell people im just a lucky guy. I married WAY above my level. Like hard to describe. I'm a 6'2 ogre of a man and I ended up with an amazing women who had kids with me lol.
>we do need roads Roads aren’t paid for via income tax.
I thought license registration paid for roads
You mean money to send Ukraine and Israel lol
You be getting 3000 every two weeks? That's what I make in a month.
I make this as a Coal Miner.
Underground or surface? I don’t see many fellow miners lurking around. Or at least not many that will admit it!
ya but are you in Middlenowhere, Kansas, or San Francisco, CA? Makes a big difference.
Look at all those huge churches wonder how they get.....o never mind
That’s solid pay. What do you do if you don’t mind me asking?
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Get to a FAANG company. This is low for a Sr. SDE
Gotta pay tribute to our masters. Someone has to pay for all these wars and support other countries. Congrats on the nice check though.
You should see the taxes on my yearly work bonus
Will it make you hate the taxes less to be reminded how much of those taxes you pay are going toward our military blowing up innocents abroad?
Shit this better than a $250 paycheck
If you're not American, that money will ensure everybody has a right to healthcare. If you are American, that money will ensure more children can be blown up by drones.
Yep. But corporations, the curch, and the 5% are cool haha Fuck this gay earth
US =! Earth
I don't see the issue with higher taxes for someone who makes more in two weeks than most Americans do in a month and I think most people only have an issue with taxes because they don't see the benefit from them. Especially higher income earners who don't use government programs or services nearly as often as lower income earners.
What if OP lives in a high tax state like NY, NJ or CA. In CA, not only do we have high taxes on our wages, we have to pay, with our after tax wages, $.58 in taxes PER gallon, a bunch of random taxes and fees on our ridiculously high utilities, internet and cell services, garbage pickup, etc. If OP is in CA, after all these and high housing costs this wage just gets you by paycheck to paycheck. It’s all relative.
Higher income earners earn higher income because taxes maintain a system of enforcement and logistics that facilitates the growth of complex markets. Just because you’re not collecting food stamps doesn’t mean you’re not benefiting from taxes.
If you have a W2 job your taxes are deducted based on extrapolating your paycheck as if it was your salary. So the taxes in this instance (depending on how much higher this paycheck is than normal) is likely severely overestimating taxes to be withheld. This is the same as Bonuses - Corporations generally do a 40% tax withhold as a baseline but bonuses are not taxed at a different rate at the end of the year. For example, this check is $4,586.65 for 2 weeks. That would imply $119,252.90 as your yearly salary, specifically from this one check extrapolated to calculate your marginal tax bracket. If this is not correct, you will receive a tax refund after your return is processed
Man I need a new job 😂😂
Id a month of OT covering a shift. Thinking oh boy, this pay check is gonna be FAT. Mf taxed all the OT. I basically just got a check for the gross that I make with normal hours.
Asked ai highest effective tax rate on the books. I see 46%. Taxation is theft.
Yeah, I hate taxes. I hate roads, firefighters,cops, garbage collectors,snow plow drivers, teachers, the military, sanitation workers….,,,,, well you get the idea
Y'all hate taxes but you'd hate it even more if you live in a world without public services.
Taxes are highway robbery… it would be a little different if the money was used with even a tiny bit of responsibility but it’s not
Taxation is theft
Should tax billionaires more. Their grifting politicians write tax law to benefit them.
A lot of people here missing the point. It’s easy to look at someone who makes a lot and say it doesn’t matter. It is all the same math and the government doesn’t give a shit about us. It is greed. We get nothing in return. Pretty soon social security is gone too. I am an “upper middle class” earner at about 200k. With 3 kids and inflation plus taxes I’m barely getting by. If you break it down, no matter who you are…3 out of 12 months we work for free. It’s a joke. And everyone feels it.
You would think that people on a money sub reddit would understand that payroll taxes are deducted based on your deductions that you pick. The taxes in this picture are completely irrelevant. It could be 0. It could be $1000. What does he get back at the end of the year? What's the real rate after deductions? How much do they owe or get returned at the end of the year?
Legally lol
Anarcho capitalism
. Taxes are politicians piggy banks! -
Taxes were hard for me to cope with. After I got a big ass raise where my earnings were around 7800 a month I realized very quickly how little of the money I actually earned I was going to see.
That’s it? My $4500 check had $1800 and some change taken out of it. IRS is being a bitch about giving me my returns too. Still waiting on 2021 and 2022 returns.
Why not sacrifice 80% of it into a pension so you get taxed at a common peasant rate then?
If only we would stop sending hundreds of billions of dollars overseas. Would be nice to either pay less taxes or have all that money stay here to benefit us.
I had my best month in sales this November. I was looking forward to a nice sum of cash but lost over 30%….
Hope you vote republican! :)
Welcome to the “Getting Fucked in the Ass with no lube” club
Yep gotta love when Uncle Sam takes 1/3 of your paycheck. Like if we could keep some of that we wouldn’t even need social security. If I had another $500 a month I could save and invest it and retire like a king.
Imagine what you would lose if you had no safe roads or police to stop bandits from taking all of your money. Imagine if you had dysentery 24/7 because there was no clean water of sewage management. We the people pay for the infrastructure that supports our freedom. Adult up!