this post was submitted on 08 Jul 2024
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100 hours of work if the money is tax free (it's not). Taxes take about 40% of your gross income so on $23/hr hr can't afford the listed bills.
Nowhere in the USA will you be taxed 40% of your income, I’m amazed such a blatantly obvious statement is being so heavily upvoted
Look through the thread and you will see people showing their work and coming up with similar numbers. 40% was a rough estimate off the top of my head. Figures from a recent paystub of mine: gross income of $2700.80, net income of $1774.41. My deductions are more than just taxes, but regardless that is an effective reduction in pay of %35.31. This is a real life figure that the others may be similarly subjected to, as opposed to the numbers you get out of a calculator.
I've not seen anyone so far in this thread quoting 40% taxes. Looking at
I just pulled my paystub (single income household) and I'm at 37% of income going to taxes and full benefits (including 7% to my 401k) covering my whole family while not making much more than the OP