Discussion in 'Members' Lounge' started by Cashizslick, Jul 17, 2009.
I live in nyc. I found this projected tax increase quite disturbing.
By comparison, I make under 30k and only a little over 10% goes to the feds alone. Not including medicare, SS, etc.
Of all my taxes, 22.7% of my check goes somewhere besides my account.
We're turning into Canada, eh. Oh and Turbo was right.
where's your everyday blue collar worker fit into that chart?
Most likely paying the same taxes, Obama wants to increase the tax rates for individuals and companies making 285k or higher.
That's what I wanted to know, recked. It's easy to schew the numbers when you're only talking about the wealthy.
here's what i hate about it....
the wealthy work for their money. more than likely they have a job with insurance or can afford their own insurance. now they get an added tax to pay for someone else to have insurance. so they have to pay for themselves and everybody else. fucking lame.
average worker in nyc? lol
60k in nyc is poverty.
the 80k lady on the bottom left corner is your 'average' nyc worker/dweller.
I bumped my dad's take home pay 20k last year because he paid me with cash. He had to pay 5k extra in taxes because of this. Serious gang rape.
Its hard to comprehend for me that you guys think of small business as a place with a 500k/year payroll. lol
That's a medium to large business here.
i'd say the split from small biz to med biz is somewhere in the 3-8mil rev a year range, and large over 8mil
Nah man its fine. Poverty in manhattan is $40\5k. Tons of people out here with 45k jobs and $1495/mo rent.
You need at least 60k to be comfortable here in a studio / jr 1bed in actual manhattan.
Small biz I would usually classify as $1,000,000 total revenue annually or less. Medium businesses range from $1-20million annual revenue.
I sit with many of the companies in the fashion district in NY. One in particular has a license for some of the Jessica Simpson line of clothing and fulfills orders to some large retailers. They still take top designers fashions, send the samples back to China, and have knock offs made that are then shipped here and sold cheap. The have a multiple floor office in NY and a warehouse in NJ. They employee less than 50 people. Their annual sales were upwards of $20million.
...Less than 50 people is still a very medium size business.
My colleagues customer provides some fulfillment of Versace and some high end italian imports to stores like Nordstroms. They ship approximately $1.5-2million in small package and whatever else that is sent LTL. Their sales probably are closer to $30million and they can't have more than 50 people working there.
You have to be a very small business, as in a family business that was just started up and employees a dozen people or less to have a payroll of $500k. That would put the average pay at $41,666.67. Offset the average with your owner/CEO/president and the next guy in line should be making atleast around $100,000 and $80,000 respectively. You could see how at 12 people, $500k is a very realistic payroll.
With approximately $19,000-$20,000 post tax income going to rent with utilities, there's not all that much left even at $60k pre tax ($45k post tax) when you take into account the cost of the city.
We all have our own definitions of comfortable, but I just spent a week with a coworker that lives in NYC and pays about $1,600 month to share an apartment in an old building that was refurbished on the inside. He makes around $80k and still has to watch his money fairly carefully. When a night at the bar is $100-$200 and you take into consideration going out to eat when you work in the city everyday, taxis/subways, etc.
At about $70k in this down economy, I keep my ass out of living in the city. Too much of my income would go towards living expenses for my taste.
Heh your from nj. . . . you will probably never move into manhattan.
Even at my current income with virtually no living expenses, I feel that some big injury or mishap will leave me tight on cash as well.
That's with dedicating far more cash to investing/savings than the average person too.
I wouldn't be comfortable moving into NYC without a $20-30k rainy day fund available.
Well the writing is on the wall as far as thats concerned . . .
Soon it wont cost any of us more than 2.5k per year to have huge, expensive mishaps. Sweet, just what I've always wanted. A heathcare system that encourages its own use due to price.
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