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Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,601,062 times
Reputation: 9169
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Quote:
Originally Posted by workingclasshero
back when Bill Clinton was POTUS he described middleclass as 50k-200k
if you (alone (you currently are a household of 1)) are only making 60k, you are lower middleclass
so he is correct saying you are barely middleclass (national standard)... its nothing to be ashamed of
That would then mean that 70% of wage earners here are lower class, as a $60k individual income here puts me in the top 30% of earners in Maricopa County.
60 grand is a lot different in San Francisco than it is in rural Kentucky. Just like minimum wage here, which is a starvation wage, would look like a fortune in India.
the median family income for SF is 120k
-same link as above-
now you want to get to what Firebird was talking about is the per capita..which is an average based on total population for show median individual incomes..
for SF its 52k....and yes for Arizona it is 29k... but it is a median which mean 50% of all earners make MORE than that
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,601,062 times
Reputation: 9169
Quote:
Originally Posted by workingclasshero
I think.. the point is a household is a household whether it is one person or 10 people
think of it this way... you are a household of 1.. you are the 1 filer for that household of 1
you are a household of 2(married).. both work...you file jointly....you are the 1 filer for that household of 2
you are a household of 6 (2 of you are married, plus 4 kids (of two are working age and "get money" from babysitting (not reported though)...you file jointly....you are the 1 filer for that household of 6, of which 2 of the kids make a few bucks (unreported(illegal if over a certain amount to not report)) of which you get child tax credit, maybe even earned income credit
a household is a household according to the IRS
In 2017, about 125.97 million people were employed on a full-time basis
in 2017 there were 220 million tax filers
131.2 million taxpayers reported earning $10.14 trillion in adjusted gross income
the top 50 percent of all taxpayers paid 97.2 percent of all individual income taxes while the bottom 50 percent paid the remaining 2.8 percent.
The top 1 percent paid a greater share of individual income taxes (39.0 percent) than the bottom 90 percent combined (29.4 percent).
The top 1 percent of taxpayers paid a 27.1 percent individual income tax rate, which is more than seven times higher than taxpayers in the bottom 50 percent (3.6 percent).
44% (down from 47% ) of all filers had a ZERO or negative tax liability
I was one of them back when I was making 60k
I haven't had a 0 tax liability since I made less than $40k/year. I have owed the last 3 years
That would then mean that 70% of wage earners here are lower class, as a $60k individual income here puts me in the top 30% of earners in Maricopa County.
This is not a majority lower class area
You live in an area in which most sources of income are SS benefits.
That would then mean that 70% of wage earners here are lower class, as a $60k individual income here puts me in the top 30% of earners in Maricopa County.
She an idiot. Rich people have to be rewarded for being rich. More than likely they have a successful company and they hire lots of people. If rich people are going to be taxed to death why expand the business which will hire more people if you are going to be taxed at that rate? Most of the big companies would not have expanded with a 70% tax rate which would hurt the economy.
for Phoenix.... Middle-class range: $41,004 to $123,012
washingtondc Middle-class range: $66,446 to $199,338
san fran: Middle-class range: $67,809 to $203,428
Yes it does, as I already stressed that that $35/hr you make is in the NYC area. If you lived in Nashville, you'd be lucky to make $18/hr for the same job and seniority
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,601,062 times
Reputation: 9169
Quote:
Originally Posted by googgo
She an idiot. Rich people have to be rewarded for being rich. More than likely they have a successful company and they hire lots of people. If rich people are going to be taxed to death why expand the business which will hire more people if you are going to be taxed at that rate? Most of the big companies would not have expanded with a 70% tax rate which would hurt the economy.
70% marginal rate on dollars above10 million; not 70% effective rate
I haven't had a 0 tax liability since I made less than $40k/year. I have owed the last 3 years
you are you alone...single 0 is a lot different than married 6
I was making 60k...a family of 6.. sole income provider...my tax return (refund) was MORE than I had paid in federal income tax AND payroll tax...IOW negative tax liability
it is different now at 75k...still get a nice refund, but the net is a small payment from me
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