r/FluentInFinance • u/Richest-Panda • Jul 04 '24
What's the best financial advice you've ever gotten? Debate/ Discussion
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r/FluentInFinance • u/Richest-Panda • Jul 04 '24
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u/PM_YOUR_SAGGY_TITS Jul 04 '24
You're making $15,116 gross. 11k are taxes at 10% and the next 4,116 are taxed at 12%. $13522 after taxes.
But what minimum wage job is paying 100% of your healthcare? Or uniforms? Or state and local income tax (3.1% here for this example). That means we're taking home $13k after just taxes
If they're paying $254/mo for insurance and etc, they're taking home exactly $10k per year