A THIRD of Americans making over $150k are living paycheck to paycheck...

[Synthaholic]

Don't have kids, do you? Must not pay taxes either.

Ok, do the math for us, Galaxy Brain.

p.s. I wish Winston was in this thread.

 

[John Edgar Slow Horses]

This group is overextended because of poor personal financial management,

 

[okfine]

Then they are complete dumbasses who don't know how to manage their money or they are living way above their means.

Way beyond their means. Gotta keep up with the neighbor. House payment. Three car payments. The trips to stores and online... daily.

 

[Missourian]

You can rent or afford a mortgage payment nearly anywhere in the U.S. and still have plenty on $150k a year. How stupid are you? Or do you just argue stupid points just to argue?

If your NYC rent is $3,000 a month, that's $36,000 a year.

If your mortgage is more than $3,000 a month you are living above your means. But that $36,000 a year also leaves you with $114,000 a year. How are you not able to live on that?

That $150k in NYc is only $96k after federal, state and city income taxes and deductions .

$150,000 income tax calculator 2024 - New York - salary after tax

If you make $150,000 in New York, what will your paycheck after tax be? The Talent.com Online Salary and Tax Calculator can help you understand your net pay.

www.talent.com

New York City Income Tax Guide | PropertyClub

Now after your $36,000 in rent you have $60,000 left...or $5,000 a month.

Subtract car payment and insurance...you have $3200 left or $761 a week and you haven't bought a drop of fuel, a bite of food, or a single watt of electricity.

 

[John Edgar Slow Horses]

Go live in Little Rock then.

 

[DigitalDrifter]

Well, when we live in an era where people demand STARTING WAGES of $20-$25 an hour to flip burgers, we shouldn't be surprised that it takes a lot of money to run a household.
$50 thousand a year, used to be considered a very good wage, that would get you a high standard of living. Today, it's shit.

 

[struth]

Then they are complete dumbasses who don't know how to manage their money or they are living way above their means.

Well a record number of Americans are worse off then before xiden was elected so I see how and why so many are living above their means

What was normal 4 years ago is breaking the bank today

 

[WorldWatcher]

You can rent or afford a mortgage payment nearly anywhere in the U.S. and still have plenty on $150k a year. How stupid are you? Or do you just argue stupid points just to argue?

If your NYC rent is $3,000 a month, that's $36,000 a year.

If your mortgage is more than $3,000 a month you are living above your means. But that $36,000 a year also leaves you with $114,000 a year. How are you not able to live on that?




And of course two of the board imbeciles think you made a genius post.
View attachment 831505

Thought that was an interesting question.

Here are some numbers:

WW

 

[Freedomisneverfree]

Today on House Hunters (SF) they had a 1 bedroom 1 bath condo for 1.2 Million dollars. I wish I was kidding...

 

[petro]

Today on House Hunters (SF) they had a 1 bedroom 1 bath condo for 1.2 Million dollars. I wish I was kidding...

That must be CA. I've seen those listings, and the house is usually a wreck.
For 1.2 million in rural MN, you would get a 5,000 sq ft house, acreage and a pole barn.
We build McMansions in the exurbs constantly. Won't get that in Mpls though. Prices are ridiculous in the metro.

 

[Flash]

Thought that was an interesting question.

Here are some numbers:

View attachment 831513


WW

That $15K in state and local taxes is a killer to the bottom line. I be there is a sales tax on top of that.

Here in Florida there is no state income tax and the county property tax would probably be in the $3K range.

For somebody in the $150K income range they would be buying their own home with maybe $24K a year mortgage payments. They would also be building up equity in their property.

General cost of living is also significantly lower unless you live in the Miami metroplex.

That income would probably net you at least $2K more in spendable income each month in Florida than in New York.

No wonder so many people from New York move to Florida.

 

[jknowgood]

You can rent or afford a mortgage payment nearly anywhere in the U.S. and still have plenty on $150k a year. How stupid are you? Or do you just argue stupid points just to argue?

If your NYC rent is $3,000 a month, that's $36,000 a year.

If your mortgage is more than $3,000 a month you are living above your means. But that $36,000 a year also leaves you with $114,000 a year. How are you not able to live on that?




And of course two of the board imbeciles think you made a genius post.
View attachment 831505

Lol, where can you get a decent apartment in New York for $3000. In Simpsonville SC a couple years ago you paid $1200 a month for a 1 bedroom apartment. I'm sure it's gone up since then.

 

[WorldWatcher]

That $15K in state and local taxes is a killer to the bottom line. I be there is a sales tax on top of that.

Here in Florida there is no state income tax and the county property tax would probably be in the $3K range.

For somebody in the $150K income range they would be buying their own home with maybe $24K a year mortgage payments. They would also be building up equity in their property.

General cost of living is also significantly lower unless you live in the Miami metroplex.

That income would probably net you at least $2K more in spendable income each month in Florida than in New York.

No wonder so many people from New York move to Florida.

Refinanced the remaining balance on the house during COVID snagging 2.7%, refinanced for 30 years. New payoff date is technically 2049.

Our P&I is just under $500 a month.

However we are still making the same payments as previously every month and the extra goes directly against principal.

So were basically paying the standard 12 P&I, plus an additional 25-26 principal payments.

We'll be loan free at retirement in a couple of years and will have paid the house off in 25 years from original purchase.



WW

 

[Dont Taz Me Bro]

Then they are complete dumbasses who don't know how to manage their money or they are living way above their means.

I would agree, although, it does depend on where they are living.

 

[Synthaholic]

That $150k in NYc is only $96k after federal, state and city income taxes and deductions .


Now after your $36,000 in rent you have $60,000 left...or $5,000 a month.

Subtract car payment and insurance...you have $3200 left or $761 a week and you haven't bought a drop of fuel, a bite of food, or a single watt of electricity.

Subtract it completely from your list - no one needs a car in NYC, and the vast majority of NYC residents do not own one. The speed limit in the entire city is 25mph. You can certainly live on $5,000 a month for food and utilities and entertainment in NYC.

And I was using a very expensive rent in the most expensive city in the U.S. to make a point.

Was the OP about NYC residents? No.

Most places in America do not charge $3,000 a month for rent, unless you are living above your means.

Most mortgages in America do not cost $3,000 a month unless you are living above your means.

And most places in America do not have the tax rates of NYC, so you have a LOT more than $96,000 after taxes.


FAIL.

 

[EvilCat Breath]

Don't have kids, do you? Must not pay taxes either.

If you make $150,000 a year you absolutely don't have a take home pay of $150,000. At a 36% tax bracket its $54,000. Take $36,000 from the remainder and you are eating hot dogs. Gas today is $6.93 a gallon.

 

[Synthaholic]

Well, when we live in an era where people demand STARTING WAGES of $20-$25 an hour to flip burgers, we shouldn't be surprised that it takes a lot of money to run a household.
$50 thousand a year, used to be considered a very good wage, that would get you a high standard of living. Today, it's shit.

How come you wingnuts never bitch about corporations paying their CEO $36 million per year while charging an average of $48,000 for a new car, like GM?

It's always the workers who are getting paid too much.

What did Mike Rapino do last year that was worth $139 million as CEO of Ticketmaster? Where are your bitchy posts about him?

You're talking about flipping burgers so let's talk McDonalds:

Based on 2022 data provided so far for S&P 500 companies, according to AI-driven SEC data company MyLogIQ, McDonald's CEO Chris Kempczinski made 1,224 times more than the median compensation of his workers. The pay for workers was $14,521, while Kempczinski made $17,770,514.

Most McDonalds franchises - by a long shot - are individually owned franchises. Little guys. Small business owners who live in the communities. Very few are corporate restaurants. So what did Kempczinski do to deserve $17,770,514 just for this year?

 

[Synthaholic]

Well a record number of Americans are worse off then before xiden was elected

This is a complete lie, from a known liar.

 

[Synthaholic]

Thought that was an interesting question.

Here are some numbers:

View attachment 831513


WW

For the most expensive city in America. Thank you.

But these are very vague numbers. Here are some from NerdWallet.

6.25%

$80,651 to $215,400.

$4,504 plus 6.25% of the amount over $80,650.

Do I have to pay New York state income tax?​

Generally, you have to file a New York state tax return if:

• You’re a New York resident and you’re required to file a federal tax return or your federal gross income plus New York additions was more than $4,000 ($3,100 if you’re single and someone can claim you as a tax dependent).
  [4]
  
  
• You’re not a New York resident but got income from a source in New York during the tax year.

If you’re not a resident of New York, but your primary workplace is there, your days telecommuting are still considered days worked in New York unless your employer established an office at your telecommuting location. Generally, you will continue to owe New York state income tax on income earned while telecommuting.
[5]

What is New York state's standard deduction?​

The standard deduction allows taxpayers to reduce their taxable income by a fixed amount. The New York state standard deductions for tax year 2022 (taxes filed in 2023) are:

• Single: $8,000.
• Single (claimed as dependent): $3,100.
• Married filing jointly or surviving spouse: $16,050.
• Married filing separately: $8,000.
• Head of household: $11,200.
  [6]

Resident	All income from all sources inside and outside New York
Part-year resident	All income received while a resident, plus income from New York sources while a nonresident
Nonresident	Income from New York sources if your adjusted gross income is higher than your New York standard deduction

So there are huge variables. But again, this article was not about NYC.

 

[Synthaholic]

Today on House Hunters (SF) they had a 1 bedroom 1 bath condo for 1.2 Million dollars. I wish I was kidding...

Housing prices are out of control and that's not workers' fault.