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Depends on their situation. I make shy of 40k right now, I live in CT, and I have enough money to get by, but of course that comes with some sacrifices. I've made as much as 65K in my life, and things were much much better for me despite the fact that I was paying out significantly more in taxes.
I promise you, poor people don't strive to be poor lol.
I presume you are able to get by because you own your home. People who make half as much as you can't buy homes, so they must rent, which is more expensive than owning.
I presume you are able to get by because you own your home. People who make half as much as you can't buy homes, so they must rent, which is more expensive than owning.
Nope.
I don't own, I rent. That and I have a roommate to split some of the household expenses with. 2 bedroom 2 bath.
??? ??? ??? ??? I make $15K per year. Why can't someone making $50K per year get beyond living paycheck to paycheck?
When you make more, you spend more and are taxed at a higher rate.
You are also not eligible for any government freebies.
You also tend to be older and therefore spend a larger amount of your income on medical care...and now that everyone's insurance sucks even more than it did thanks to Obamacare, that number is even higher.
When you make more, you spend more and are taxed at a higher rate.
You are also not eligible for any government freebies.
You also tend to be older and therefore spend a larger amount of your income on medical care...and now that everyone's insurance sucks even more than it did thanks to Obamacare, that number is even higher.
Indeed, you do spend more. Do you HAVE to spend more?
Live within your means and stop spending so much. The second point about healthcare I can totally agree with though.
DK about that poster. Speaking for myself, that you and Warren Buffet pay the same rate makes sense to me.
No income? No problem. Your benefits are reduced by the same percentage.
Everyone needs to have skin in the game.
I had a workplace where the total payroll was ~$500,000, the owner made a net of $3M and paid about ~$1M in taxes - obviously he was in the top tax bracket.
If he had given doubled every employee's wage, payroll would have been ~$1M, he would have made net about $2.5M, and he would have paid somewhat lower taxes.
IOW, total taxes were maximized because employees were underpaid.
Didn't the employees make a substantial tax contribution with their sweat, even if they were not rewarded commensurately?
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