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I have always been curious about this but don't know which data points I need to start from to get a range of estimates. How much do you have to pay in taxes to be a net contributor into the system versus being a burden on taxpayers and the government? How much does one have to pay to "carry his own weight" so to speak? I want to be able to determine who is leeching off taxpayers by consuming more in taxpayer funded services than they effectively contribute.
The bottom 20% of tax payers take home more than they pay. They get all the cool little wealth transfer benefits that higher dollar earners do not get.
The top .01% pay 37.9% of the tax bill.
The top 2.4% pay 48.9% of the tax bill. This is based on all tax returns over $250,000 a year.
The top 15% pay 77.7% of the tax bill. Based on tax returns of $100,000 and more.
The top 36.6% pay 93.8% of the tax bill. Based on tax returns of $50,000 and more.
The bottom 25% of wage earners pay .2% of the tax bill. (That is 1/5 of a percent)
The bottom 25% of tax payers get all the benefits. Earned Income Credit, which is funny because it was income earned by someone else and not the low income tax payer.
The bottom 20% of tax payers take home more than they pay. They get all the cool little wealth transfer benefits that higher dollar earners do not get.
The top .01% pay 37.9% of the tax bill.
The top 2.4% pay 48.9% of the tax bill. This is based on all tax returns over $250,000 a year.
The top 15% pay 77.7% of the tax bill. Based on tax returns of $100,000 and more.
The top 36.6% pay 93.8% of the tax bill. Based on tax returns of $50,000 and more.
The bottom 25% of wage earners pay .2% of the tax bill. (That is 1/5 of a percent)
The bottom 25% of tax payers get all the benefits. Earned Income Credit, which is funny because it was income earned by someone else and not the low income tax payer.
??? I'm in the bottom 20% and I pay income taxes and don't get EITC or wealth transfer benefits. Baby mamas get a lot, childless adults not so much.
The average C store is making a profit of about 19%. That would have your store making $15,000,000 in yearly sales? The industry is a $41 billion industry with 152,794 C stores in the USA. That is an average yearly gross income of $268,335 a year. I realize many stores are making more than that and many are making less than that.
$500,000 yearly payroll?
Lets say that you pay the manager $60,000 to run the place with an assistant manager making $45,000 a year. That leaves you with $395,000 a year for minimum wage employees. My area we pay $8 an hour minimum wage. Lets say that the employer pays $12 an hour with pay and other costs. That store should have 15 full time and 1 part time employee. First off I don't know any C stores that have that many employees. Many of the independent stores are run by an owner that works all the time. with a few employees. I worked in the industry years ago in a large C store and we had 8 employees, not all of them full time.
Several stores, not just one, about 30 employees, and some extremely profitable high-volume locations with favorable long-term leases. An example of a business where the owner did pretty much everything right.
Costs are much lower than you think, all hourly employees are within 25 cents of minimum wage and stores are understaffed for the sales volume. The managers are not paid nearly as well as you think; the workplace joke at the time of an earlier minimum wage hike was that if the managers didn't get a raise by the the end of the year, the hourly employees would be better paid than the managers.
I have always been curious about this but don't know which data points I need to start from to get a range of estimates. How much do you have to pay in taxes to be a net contributor into the system versus being a burden on taxpayers and the government? How much does one have to pay to "carry his own weight" so to speak? I want to be able to determine who is leeching off taxpayers by consuming more in taxpayer funded services than they effectively contribute.
As you can see from the responses you're getting, this isn't simply a divide by "X" equation, there are regional considerations as well as state and federal level factors. However, this could be an interesting analysis, and especially helpful in future budget planning to determine if we're picking a sustainable strategy of wealth re-distribution. When enough people realize they're better off earning less and getting more from the government, the money to pay for it comes from those that can pay, what happens to the upper 25- 30% who already pay the majority of taxes? Our capitalistic system may need a little bit of socialism to balance out income disparity, while at the same time reward those who profit from investment. But, we need to be vigilant not to fall to failed systems like communism, where no-one is rich and no-one is poor, and your economy stagnates.
As you can see from the responses you're getting, this isn't simply a divide by "X" equation, there are regional considerations as well as state and federal level factors. However, this could be an interesting analysis, and especially helpful in future budget planning to determine if we're picking a sustainable strategy of wealth re-distribution. When enough people realize they're better off earning less and getting more from the government, the money to pay for it comes from those that can pay, what happens to the upper 25- 30% who already pay the majority of taxes? Our capitalistic system may need a little bit of socialism to balance out income disparity, while at the same time reward those who profit from investment. But, we need to be vigilant not to fall to failed systems like communism, where no-one is rich and no-one is poor, and your economy stagnates.
This. Social capitalism is the answer. However you have free-market anarchists who will disagree with it until the end of time. Hopefully their numbers drop when they realize the US is better off through social capitalism.
I have always been curious about this but don't know which data points I need to start from to get a range of estimates. How much do you have to pay in taxes to be a net contributor into the system versus being a burden on taxpayers and the government? How much does one have to pay to "carry his own weight" so to speak? I want to be able to determine who is leeching off taxpayers by consuming more in taxpayer funded services than they effectively contribute.
Honestly, if you pay into the system you're good. If everyone paid into the system we'd be in a much better place.
The bottom 20% of tax payers take home more than they pay. They get all the cool little wealth transfer benefits that higher dollar earners do not get.
The top .01% pay 37.9% of the tax bill.
The top 2.4% pay 48.9% of the tax bill. This is based on all tax returns over $250,000 a year.
The top 15% pay 77.7% of the tax bill. Based on tax returns of $100,000 and more.
The top 36.6% pay 93.8% of the tax bill. Based on tax returns of $50,000 and more.
The bottom 25% of wage earners pay .2% of the tax bill. (That is 1/5 of a percent)
The bottom 25% of tax payers get all the benefits. Earned Income Credit, which is funny because it was income earned by someone else and not the low income tax payer.
Your data are inaccurate. Maybe out of date?
The top 50% earn over $52,000, top 15% earn over $124,000 according to cnn.
The top 50% earn over $52,000, top 15% earn over $124,000 according to cnn.
Numbers like this often vary simply because people are citing different time points, e.g one source might have numbers from 2014, someone else from 2012, and a third from 2010.
e.g. when I try to look up income, wealth, or other economic data, the first numbers I find are often not the most recent.
3.8 trillion was spent last year. If we have 100 million working folks, then the average needed from them would be about 38,000 per working person.
BUT the reality is that last year only 1.9 trillion came in from income taxes, so if your federal taxes came to more then 19,000 last year (mine did) you are paying the average. (not including social security which is another 1.1 trillion in income).
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