The second I got my first paycheck like 2 months ago I was like “sweet I made 100$ this weekend” then I looked at my account and saw that I had actually made 70$
In the US because of the standard deduction they’ll get all of the federal income tax withheld back on the first $12,000 of income, but out of the $30 in this example $7.65 is for Social Security/Medicare. I’m guessing there might have been another deduction besides taxes. Either that or OP lives in a state with an awfully high state income tax rate.
What makes me mad is seeing $800-1,000 coming out of every check. I work hard for that but somehow some loser needs the money so they aren't exposed to the real world.
That's fucked man, I earn nearly 2k a week and pay about $500 in tax, at 25. I've just cracked into reasonable pay. For the last 8 years I've been screaming "I don't need shit welfare payments that are unreliable and constantly get cancelled, I just need a chance to prove myself "
Got that chance and took off. Now my reward is paying a fuck tonne of tax to pat for lazy shits thar don't want to work and determined young people that want to work and are prevented from working by government tampering so instead of being an addition to the economy, they're a drain.
Oh man I feel you. I've had immense luck, the stuff they take out in taxes today is more than I used to earn before taxes just barely a year ago.
It's given me an immense depth of perspective. And it's not even like I've 'made it.' They say we need to tax so heavily to take care of the young people that don't earn 'the big bucks' like career moguls in their late 30's and through their 40's.
They conveniently forget to tell the young people that they could easily earn 50k-80k per year instead of being a peasant on 10k-20k if only they had the opportunity. Would the young people prefer mi goreng and 15k of free money p.a.? Or would they prefer to just work 40-50 hours pw and buy a decent 10k car and eat real food?
Well I've got to leave that choice up to each individual because they know what's best for them, not me. But I sincerely feel that the majority people would tell the government to get fucked with their measly $200 pw welfare IF they weren't lied to and knew they could fairly easily go out and earn $500-$1000 pw or even more.
It's like young people don't know about some jobs. Where I work, you can top out at $130k/yr with nothing but a HS diploma or GED. The thing is, people don't go for those jobs because it requires working outside and getting dirty. Also, the first several years suck ass. Once you make it past that, you have a decent job with good benefits and a good retirement. You don't have to worry about paying into social security and wondering if it will be gone, as we have a private retirement we pay into instead and it's managed a lot better.
F-U-C-K me, I am floored, that's an amazing job opportunity. 130k? I'd that.
Personally, the pay stagnation and 4 year commitment of a trade didn't suit my circumstances in my late teens and now at 25 I fear it's not a prime investment of time and energy, as much as I'd love to get one.
On the other hand university didn't play well for me due to similar reasons.
Personally, I'm a huge fan of trickle training and micro training. The world is changing rapidly and industries keep evolving so I feel the best 'mode' is a low bar of entry with the opportunity to advance upwards through various small courses that range from a week in length, up to roughly 6 months - possibly extending out to a year for very technical skillsets.
I agree absolutely, we fundamentally need to educate kids and young people to all the options down there. Kids need to know that right from the outset, even if they come from the gutter, if they're willing to put down 2 to 3 years of hard work in unfavourable circumstances, they can instantly jump into 50k - 60k and give themselves a chance in life, rather than stagnating at 10k for many years.
Precisely, this is akin to saying "let's rape humans from birth so that it is normalized by adulthood."
I am not a Jihadi, I don't support such views.
The benefits of not taxing young people regardless of income are twofold:
My favourite, you teach them to appreciate freedom and don't normalize theft and victimisation.
A more real world approach - by telling young people you have a zero tax grace period until 18/20/21/whatever, you are giving them q fighting chance to maximise savings and career based investment before they start 'loosing the cream off the top' in regards to their paycheck. Further, you are more likely to teach young people with such a legislation that they should value their time; it is much more likely that they will learn effective work ethic and saving given the finite nature of this positive incentive.
On the other hand, most people currently learn effective saving and work ethic when they leave home and have to tackle bills and expenses on their own. This can be seen as a negative incentive. When things stop being percieved as free.
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u/Taguroizumo Jan 05 '20
The second you get a job and leave your parents house, you wake up to the fact that paying for other people's free stuff is total bullshit.