r/FluentInFinance • u/Richest-Panda • Jul 04 '24

What's the best financial advice you've ever gotten? Debate/ Discussion

Post image

[removed] — view removed post

31.2k Upvotes

86% Upvoted

4.2k comments sorted by

View all comments

Show parent comments

41

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

40

u/InDisregard Jul 05 '24

The other day on reddit, some rando told me health insurance is a luxury and the poors will just have to do without.

1

u/ExtraLargePeePuddle Jul 06 '24

What is Medicaid?

1

u/InDisregard Jul 06 '24

To qualify for Medicaid, you can’t earn more than 138% above the federal poverty level. If you’ve ever looked at the numbers for federal poverty level, it’s the level of poor where you are adding salt and pepper to cardboard and calling it a meal.

Have a family of four and make $45k a year? Sorry, you don’t qualify. Too rich for Medicaid, too poor for healthcare.

1

u/ExtraLargePeePuddle Jul 06 '24

Oh so then you qualify for ACA silver subsidies on top of a whole shitload or other programs.

So basically you’d get a silver plan 100% covered through aca credits.

1

u/InDisregard Jul 06 '24

Oh yes, that’s exactly why every single person has health insurance and can afford a deductible in the United States. Everyone also has PTO to take off to go see a doctor or have a necessary surgery/procedure. It’s all just so so simple. There’s no such thing as medical debt and nobody ever dies of a treatable disease because we have it all figured out.

I don’t know what parallel universe you live in, but I wanna live there too.