Household income

[presonorek]

Why not try to spend less than 6.1 trillion first?

I don't know. It wasn't my idea.

 

[ScorpioRising007]

Distribution of household income U.S. 2022 | Statista

In 2022, just over 50 percent of Americans had an annual household income that was less than 75,000 U.S.

www.statista.com

According to this data 8.3% of the population make less than $15,000. 11.8% of the population make more than $200,000. There are 7 other categories in between. I think that the data from this chart can be used to make a workable tax policy.

This is what I have come up with.

The lower 33.9% of the population made less than $50,000 in 2022.

The middle 44.9% of the population made between $50,000 and $149,999 in 2022.

The higher 21.1% of the population made $150,000 or more.

This is out of 148,300,000 households. The Federal budget for 2023 was $6.1 trillion. Let's unpack this mess and create a simplistic tax code that generates $6.1 trillion.

Wife and I and other family members who also work and live in same household. Everyone's combined income added up and household income falls in the middle 44.9% and we can't still can't pay our bills. Even with 5 adults in one household, 4 working and 1 on disability in one house we still struggle.

We definitely need higher taxes on the very wealthy.

 

[Lisa558]

Really? I worked in the ATF&E headquarters building and i saw plenty of non essential personnel sitting around net surfing, gorging their pieholes, and when the government closed 95% of the staff went home. If all agencies have this quota of worthless people, then fire every last one of them, because they are Non-Essential.

I worked for the federal govt for ONE year and then left for the private industry, even though I was losing lifetime job security. I couldn’t stand seeing all the waste, all the people hanging around doing nothing - and I wanted to do work that would, in its own small way, contribute to society and make use of my abilities.

My workday in private industry was 3x as demanding, and actually paid LESS when you factor in all the benefits. But I was much happier, knowing I wasn’t wasting my time and talents.

 

[Lisa558]

Wife and I and other family members who also work and live in same household. Everyone's combined income added up and household income falls in the middle 44.9% and we can't still can't pay our bills. Even with 5 adults in one household, 4 working and 1 on disability in one house we still struggle.

We definitely need higher taxes on the very wealthy.

Maybe you need to move to a smaller place, or train for better-paying jobs. You’re telling me that 4 adults are only bringing in $100,000 combined?

 

[SeaMajor7]

Distribution of household income U.S. 2022 | Statista

In 2022, just over 50 percent of Americans had an annual household income that was less than 75,000 U.S.

www.statista.com

According to this data 8.3% of the population make less than $15,000. 11.8% of the population make more than $200,000. There are 7 other categories in between. I think that the data from this chart can be used to make a workable tax policy.

This is what I have come up with.

The lower 33.9% of the population made less than $50,000 in 2022.

The middle 44.9% of the population made between $50,000 and $149,999 in 2022.

The higher 21.1% of the population made $150,000 or more.

This is out of 148,300,000 households. The Federal budget for 2023 was $6.1 trillion. Let's unpack this mess and create a simplistic tax code that generates $6.1 trillion.

Cut spending, stupid.

 

[presonorek]

Maybe you need to move to a smaller place, or train for better-paying jobs. You’re telling me that 4 adults are only bringing in $100,000 combined?

In some states minimum wage is $7.25 an hour. 40 hours a week that comes up to $15,080 per year. If you multiply that by 4 then the total is $60,320. If three of them make double the minimum wage then the total comes up to $105,560.

I can understand having an above-average income/lifestyle. What I don't understand is why you expect others to have that same luxury. What kind of princess fairy tale life are you living that separates you so far from reality? You do know that companies prefer paying the lowest wage possible just like consumers prefer paying the lowest price possible for goods. People don't pay people salaries because they are nice. They pay salaries because they have to do it.

I really can't understand why somebody thinks it is normal to make $50,000 a year. Can I have some insight on how you missed so much of reality?

 

[presonorek]

Cut spending, stupid.

Lol Yeah. Have you ever met an American who wouldn't lose their ever-loving mind if you suggested cutting a government program?

 

[presonorek]

Cut spending, stupid.

That's an excellent suggestion but 75% of the budget is National Defense, Social Security, Medicare, Medicaid, and Department of Education. If you plan on eliminating the remaining 25% of government spending then you still have work to do. If you plan on cutting less then that then you are purely retarded.

The cuts required are certain to result in civil unrest like none of us alive have ever seen.

 

[XponentialChaos]

Eventually we’re going need to elect someone who will get the budget in order.

Neither side is particularly interested in that.

 

[Harpy Eagle]

How about we cut the PORK out of government (PORK representing the non-essential personnel) because if they arent needed, then they shouldnt be on the government tits, sucking the life out of the golden cow. Cut it by 50% the first year, then 50% the second year and soon the US would be surplus of tax revenue enough to pay down the debt in 10 years......

Total compensation for all Federal, non-military, employees is about 300 billion a year. Cut that by 50% and you are saving 150B a year. That would not even make a dent in the current deficits, let alone remove them and give a surplus.

 

[Harpy Eagle]

Eventually we’re going need to elect someone who will get the budget in order.

Neither side is particularly interested in that.

Nobody will vote for such a person.

 

[Foxfyre]

Distribution of household income U.S. 2022 | Statista

In 2022, just over 50 percent of Americans had an annual household income that was less than 75,000 U.S.

www.statista.com

According to this data 8.3% of the population make less than $15,000. 11.8% of the population make more than $200,000. There are 7 other categories in between. I think that the data from this chart can be used to make a workable tax policy.

This is what I have come up with.

The lower 33.9% of the population made less than $50,000 in 2022.

The middle 44.9% of the population made between $50,000 and $149,999 in 2022.

The higher 21.1% of the population made $150,000 or more.

This is out of 148,300,000 households. The Federal budget for 2023 was $6.1 trillion. Let's unpack this mess and create a simplistic tax code that generates $6.1 trillion.

Take everything out of the budget that is unnecessary or unnecessary to have or do right now and I would give odds that we could get the budget down to 3 trillion or less and that would still require roughly $1,000 from every living man, woman, child in America to cover. And every adult and working minor, even those on welfare, should be paying at least something in taxes so that consequences of tax policy affect them too. Then you won't have half the population that pays little or nothing in income taxes not caring how much in taxes the other half of the population pays.

 

[presonorek]

Eventually we’re going need to elect someone who will get the budget in order.

Neither side is particularly interested in that.

I have seen it play out in local government. Hard-core liberals end up firing the heck out of people and raising taxes. The federal government just has the benefit of borrowing from the Federal Reserve to balance the budget. Local governments and state governments don't have that luxury. Most state and local governments aren't even allowed to borrow money at all from any source.

It takes longer for the Federal Government to implode. When it does you will see conservatives raise taxes, cut spending, and they will even do it together as a team. It is better to take drastic measures on purpose than to do it out of necessity. For politicians, I guess it is twisted a little. They actually benefit from waiting until it is forced upon them.

 

[XponentialChaos]

Nobody will vote for such a person.

One can only hope it will be taken seriously one day.

 

[presonorek]

And every adult and working minor, even those on welfare, should be paying at least something in taxes so that consequences of tax policy affect them too.

Show me the math sir. How much revenue would it generate to tax the lowest 50% of incomes at 90%? Poor people have nothing to offer to help with the federal government's revenue problem.

 

[presonorek]

Total compensation for all Federal, non-military, employees is about 300 billion a year. Cut that by 50% and you are saving 150B a year. That would not even make a dent in the current deficits, let alone remove them and give a surplus.

He is speaking in rhetoric. He is not speaking in mathematics or logic. You can make sense all day. If he doesn't break out a calculator (and he won't) then you are wasting your time discussing it unless you enjoy discussing it.

 

[presonorek]

One can only hope it will be taken seriously one day.

They will and it will be much uglier than if they would have addressed it head-on.

 

[Foxfyre]

Show me the math sir. How much revenue would it generate to tax the lowest 50% of incomes at 90%? Poor people have nothing to offer to help with the federal government's revenue problem.

Show me where I suggest anybody should be taxed at 90%? I swear those on the left must drink something often to create that much reading dysfunction.

 

[presonorek]

Show me where I suggest anybody should be taxed at 90%? I swear those on the left must drink something often to create that much reading dysfunction.

That wasn't my point. Plug in any number you wish. You can use any number between 1 and 100. Currently the lower 50% of taxpayers pays 2.5% of the income taxes collected.

I just like math. Show me the math. How much money do you anticipate to be collected from the poorest 50% of taxpayers?

 

[Lisa558]

In some states minimum wage is $7.25 an hour. 40 hours a week that comes up to $15,080 per year. If you multiply that by 4 then the total is $60,320. If three of them make double the minimum wage then the total comes up to $105,560.

I can understand having an above-average income/lifestyle. What I don't understand is why you expect others to have that same luxury. What kind of princess fairy tale life are you living that separates you so far from reality? You do know that companies prefer paying the lowest wage possible just like consumers prefer paying the lowest price possible for goods. People don't pay people salaries because they are nice. They pay salaries because they have to do it.

I really can't understand why somebody thinks it is normal to make $50,000 a year. Can I have some insight on how you missed so much of reality?

Are you talking to ME?

A salary of $50,000 is actually below the average. (Average is just shy of $60,000.) So the poster who is complaining that four adults are earning $100,000 combined is well below average. Around here, the minimum being paid at Target and Walmart is around $16 or $17 an hour, or $35,000.

So back to the poster complaining that his family of four adults is only bringing in $100,000 is the equivalent of four unskilled, minImum wage workers - and for that he thinks OTHER PEOPLE should pay more tax.

Let’s keep analyzing. Why should four family members who never learned a trade or skill, and now are each bringing in $25,000 ($12.50/hr), not doing something to make themselves have some decent market value?