Get $19/hr starter job

>get $19/hr starter job
>pretty cool
>get paycheck
>25% of my fucking pay goes to taxes, don't even have insurance or 401k

WHAT THE FUCK???? THAT'S LIKE $10,000 A FUCKING YEAR I PAY TO THE GOVERNMENT!!!! FUCK THIS SHIT

Other urls found in this thread:

mrmoneymustache.com/2012/04/30/the-cost-of-living-is-too-high-these-days-waaah-waaah/
twitter.com/AnonBabble

>x-mas bonus
>its twice my normal pay check
>65% deducted from taxes
>my normal paycheck is larger then my bonus now
REEEEEEEEEEEEEEEEEEEEEEEEEEE
GUESS I'LL JUST INVEST THIS SHIT INTO STOCKS WITH DIVIDENDS

you will get some of it back in your tax return. probably at least 3k

>$5600/month
>after insurance, 401k, espp, and federal withholding for the united basketball american and single mother fund, I'm left with $2400/month
>mfw I make $15/hour, the same number that chicken mcniggers want for flipping burgers in addition to the welfare my taxes pay for

I have a flat 15% tax on all income. Sucks balls man.

> 10k/month
> after taxes, 401(k) and IRA contributions, left with about $2500/mo

How the fuck is this right? Why are young workers crippled so fucking much?

>get paid 50k a month
>end up with 10k after taxes
just kill me now

The birth of a conservative friends

I've got nothing to itemize on my returns, which means if I don't max out a 401k and IRA I will absolutely get fucked in the butt
I'm a white single male and I need my privilege to be severely checked

>mfw ding don trump is offering at best a 5% reduction in my taxes while billionaires get away with straight up murder

>drive to work on public roads
>use public utilities
>probably went to public school
etc. welcome to society. also half of your taxes are probably going to our military

I was being a bit of an ass. My tax bill winds up being roughly 25% or $30k off of 120, though it would be much higher (an additional $4k) if I were not maxing out my 401(k).

I'm putting $60k per year into tax-advantaged retirement accounts because I'm able to do so right now, but it is still my money (though it's a bit difficult to access).

I get paid $17/hour and ~18% of my paycheck goes to taxes and health insurance.

Sounds like you fucked up your W-4 or live in a cuck state with high income taxes.

>>make $25K / month
>>take home $50 bucks

THANKS OBAMA REEEEEEEEE

Hopefully the don will ease taxes on the middle class

@OP
COPYPASTA
There are currently seven states that do not collect any income taxes: Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming.

I didn't know Washington had no income taxes. I live in Florida, and this is the land of REAL ESTATE, so the state makes all of it's money off property taxes.

South Dakota I knew, since it's got all that oil business. Read about Texas a while ago, and I know Wyoming because they also have the lowest sales tax of any state.

tl;dr- move to one of these states.

>$500 paycheck
>only take home $320
Fuckkkkkkkkkk

Baby boomers fault, government fault and society fault.
Study loans are HIGH. Insurance is HIGH. Work is scarce and jobs that require no education at all now require a bachelor. Shit culture. Women joining men in getting jobs makes everything more competitive(wages, chances). Everyone is a pussy because babyboomers treated their kids like puddings with good intentions but shit result as we can see now.

Fake liberal news detected. Military is 16%. Meanwhile 60% goes to entitlement spending. Delete your account.

Feels good to be from Russia. No taxes bitch.

>forgetting federal income tax

I know that amazing feeling. Belarus here, though.

But then you live in russia. You slavic mutts are so funny.

so 16.5 billion times 50. Where does that 825 billion for "welfare" fall under?

This doesn't count state and local spending either. "Muh military spending" is a shit meme.

I dont look at my taxes on my paystubs for this very reason. Im happy to gain anything at all from my checks. I work three jobs. Krispy Kreme, Perfumania, and my job at college while being a full-time student. I make bank on all of those and soon ill be adding working at Adidas to the list.

Im not proud of all this work I do. I just put my checks into my startup, take out some for food and that is literally it.

Basically most firms will hire them, then fire before they need to give a raise/protection of full worker.

Because the pool of labor is plentiful they can afford to treat young workers as garbage.

> Amazon Go
> Uber self driving cars
> McDonald's kiosk

Just these 3 things alone will wipe out a good chunk of the economy. No one is really bothered by it as well. Weird.

Everyone has gotten stuck in that mode "it is what it is" and "what am I going to do about it". These are the same people that will blow the IRS man. People have forgotten what America was, that the government was a cunt and you needed your rights. Now people want a safe space provided by the government. Believing the government actually cares about their individual life.

No vagina? No kids? Go die. - US Government 2016

god, i know that feel OP. most people can't even contribute 10% towards retirement and yet you have to pay 6.2% for SS, 1.4% medicare, state and local taxes (usually 3% to 5% in total but depends where you live. some states it's 0%), and usually 25% minimum for federal. Then don't forget you have to pay sales tax on just about everything. And property taxes as well if you own any. When you add it all up, about half your income is going to the government in some form.


exactly. maxing out tax advantaged accounts is the smart thing to do. have a cash reserve though just in case.

exactly. majority of gov't budget is entitlement spending. basically a huge transfer of wealth from the middle class to the poor and old people. rich people are not as affected cause SS and medicare taxes are capped at 140k and most of their income comes from capital gains and other ways which are less rates than middle class pays.

>No vagina? No kids? Go die. - US Government 2016
so fucking true. i would also add No mortgage.

>Military 16%

>Environment 1%
>Science 1%

What a shit fucking country.

>doesn't know the difference between mandatory and discretionary spending
SSI, Unemployment, Medicare, and health spending don't come out of your federal income taxes

Doesn't it though?

Those three come out of your payroll taxes, which are technically different than the federal income tax. Also, once you make above $110k you don't have to pay for SSI or Unemployment anymore, which is the chief reason why the middle class is disappearing, since it means that people making low six figures are paying higher tax rates than millionaires and billionaires.

mind you that science funding goes towards "sciences" like psychology and gender studies, too.

sorry this is bullshit

>Also, once you make above $110k you don't have to pay for SSI or Unemployment anymore,

what the fuck

still worth it. fundamental science is too important to our society.

>South Dakota I knew, since it's got all that oil business
you mean North Dakota?

South Dakota has jack shit going on except mount rushmore and free ice water

>after saving a bunch of money and paying for insurance I net as much as a nigger who gets none of these things and grosses the same amount as I net

That's you.

The argument is that social security is an investment scheme where your tax money gets returned to you some years down the road. The wealthy don't pay into it above $110k because they don't need any more money, but they don't get any additional benefits either, so it's 'equal'.

Of course, social security is incredibly underfunded, and the government 'steals' from the expected returns of the people near the cap to fund the otherwise meager benefits of the poor (e.g. if you make $110k throughout your career you only get two times as much back as somebody who only made $30k throughout their career). Also, most social security money ends up flowing into the pockets of the rich anyways whether grandpa spends it on his mortgage payment or at the casino. So the arguments that they shouldn't help pay for it are utter horseshit.

How are you putting in 60k into tax advantaged accounts? 401k, ROTH are $23500. Are you loading up on a 529 plan? What else is there?

...

SS is retirement and disability insurance. medicare is health insurance when you're old. Without either, the 7.6% wouldn't mean jack shit if you threw it into retirement. Also remember the employer is matching that amount on your behalf.

That's not why the middle class is disappearing but it is bullshit

>$15/hr is > 30k
>getting access child care and CHIP suddenly means nig nog is literally pocketing money
>if compared to a single person (assuming your neckbeard ass) most of those benefits disappear

Nice shit comparison, retard.

I'm only "saving" to prevent taxation
I have no desire to live to retirement age

u must be new at life

a 401k that allows after-tax contributions

no if he wants less taxes that would make him democratic

Quit your job on December 31st. Remove tax advantaged money at a 10% penalty (still less than tax). Live like a welfare queen until the money runs out. Renew employment

If you don't do this then you're retarded since you have no desire to live until retirement age - otherwise, don't defer the taxes.

Are the gains then tax deferred?

no
you pay a 10% penalty AND tax
just not FICA since you already paid for that
the plan is a ROTH ladder for early retirement
your society is not worth participating in

yes, unless you use it as a mega backdoor ROTH
many 401k plans don't even have it,
mine doesn't or I'd do it

this source
DELETE THIS

>65% deducted in taxes
holy shit where do you live?

Military is still way too high

TN don't either, breh

work harder.. Wellfare queen needs her next check

the top 1% and beyond are dramatically increasing their wealth and sitting on it instead of investing. Middle class Americans are paying for this.

It's half of the discretionary budget, aka the component of the federal budget that politicians directly control. Ridiculous.

We could slash the amount spent on most "entitlements" just by improving our fiscal policy (and by the way, not because we need to spend less on entitlements, but because it would improve everyone's quality of life). Functional Finance, not Sound Finance, should be our new MO. It doesn't take a liberal or a conservative or a libertarian to see this.

they arent they are just sticking a bunch of money in a voluntary savings program and then bitching about it for some reason

This is completely false. The amount may stop going up but they don't have to stop paying it. All wage earners pay it.

REEEEEEE3EEEEE34EEEEWWEREW

FUCK TAXES.....WHY ARE THEYU SO HIGH

REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

the Military IS science. wtf do you think DARPA is?

Everyone's a liberal until they get their first paycheck.

enjoy paying for all those illegals and sheboons on welfare with 10 kids.
let's not forget muh moslem rapefugees need your money too.

that's retarded

When I work 50 hours a week at my $10 wageslave job when I'm on break from college, I get 30% taken out

Taxes are too high though. Especially since the government doesn't even spend that money wisely.

fuck you work 90+ hours a week user?

well start buying your ..

You are fucking retarded

>Be Swedish
>Pay 35% income tax

Man, if I had $60k, that'd pay off my student loan and keep me afloat until I retire...

Fucking rich people. Reee.

Just sell your boat, you rich cunt. Down with the burgeoise!

>2700
>2400
>1600 after rent
>500 after investing

Why are you guys not just paying late taxes, its a cheap as fuck loan

How do I do this?

> until I retire
It's only there for me until I retire too (I'm the person you're responding to, though I changed countries and I expect my ID has changed). If I wasn't saving it, it might not be.

No, I could literally live off $60k from now until I retire, given my current spending habits.

Yes but how would you make money after you were retired?

At that point I'd be retired. Minimum retirement checks wouldn't be any less money than I spend today.

What country are you in? In the US there aren't any "minimum retirement checks" except Social Security, but these don't kick in until age 66-67.

Sweden, but the social security age is the same. And no, the minimum is not what the average person would consider liveable. I'm just so poor and downtrodden my standards are nonexistent.

Ah, I see. In the US it is possible to live on social security, but the wages are high enough that it's possible for many people to retire decades earlier, so these often aren't thought of as "retirement income".

I'm sorry for your situation.

From what I hear it's mostly that welfare checks in the US are roughly the same as they are here, it's just that low-end incomes give you less money than welfare, while a low-end income in Sweden is three times as high as welfare.

I've literally never heard of anyone retiring decades earlier than 65, though, even upper middle class people usually work until then if they want to maintain their lifestyle. Most of their post-retirement income comes from work-related retirement benefits, though not all of it.

I actually worked for the pension authority for a while. It was a real pain in the ass listening to old farts telling me every day I should send them my salary to compensate them for their lackluster pensions - when their pensions were higher than my salary to begin with.

there are 4 40 hour work weeks in a month

You might want to checkout the Mr Money Mustache blog,
mrmoneymustache.com/2012/04/30/the-cost-of-living-is-too-high-these-days-waaah-waaah/
regarding Americans retiring decades early. It's true that it's almost unheard of, but this is because Americans are fantastically bad with money and spend well beyond their means, largely for the sake of appearances.

I live a very hedonistic lifestyle in the US for less than $40k/yr. With my $90k post-tax income and being able to save $60k/yr by running a slight deficit (which I can afford from savings) for five years, I could in principle retire at 30, since that's the point when my investment income would exceed my spending rate.

My FIRE niggah.

I wish people wouldn't shit on this kind of lifestyle here. It's not hard to save. You can still live a good life without being a slave to consumerism.

I'm convinced the only reason America has a military of its size is to keep unemployment down.

I do know where you're coming from, and I give people shit about this stuff all the time - especially if they're on welfare and complaining the government isn't giving them enough money. I would consider myself well off if I had 20k a year to spend. Welfare gives you roughly 10k, and, as you may have guessed, a half-decent job gives you 30. A *good* job is 40-50, and what happens above that pay grade, I can only ever speculate about. If I ever met someone who makes more than that, I probably wouldn't know how to tell.

Still wouldn't even roll out of bed for $7/hour, though. Fuck that, I'd just take a crowbar to a cop car and eat prison food for the rest of my life. It's better than school food, and I survived moving away from home on that stuff.

But that's why we have welfare, because 30% unemployment is cheaper than 30% of the population rioting and in prison.

>get your money back on your tax return
Not unless your name is shaniqua and you have twelve kids with different Tyrone's

>4×40×15=2,400
fucktard

>left with $2400/month
$2400/MONTH = $15/HOUR
???

I might as well ask this here.

I'm a US citizen but I was working out of the country for 8 months (not for the US, I was just teaching kids English in a Latino country). Do I still need to file taxes next year? I don't think I even made $2000 in those 8 months. I haven't had any other job in 2 years.

Yes. You need to file taxes with the IRS if you are a "US person", which means a citizen or permanent resident, or a person who has been in the country for 180 days of the last year, or some weighted average of so many days in the last 3 years.

(As far as I'm aware, they're the only first-world country that taxes its citizens even when they're nowhere near the country.)

Having said this, you should be able to deduct any income that is taxed in the foreign country. It depends on the country and the specific tax treaties they have with the United States.

For $2000 I'd just file with the IRS, you won't owe anything anyway. For a sizeable amount you want to hire a tax accountant.