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January 19, 2010 at 8:29 AM #504224January 19, 2010 at 8:44 AM #503343ucodegenParticipant
There’s absolutely no way a family with a $52,000 income would pay 30% in taxes. They’d pay $2000, tops (4%), in federal and state taxes combined.
Wrong:
Social Security = 6.2% for both employer and employee (total 12.4%)
http://www.socialsecurity.gov/OACT/ProgData/taxRates.html
Fed Income tax rate @ 52k = 15%(on amount above 16,700) + $802.5 = 13.39% – I used married filing jointly @ 2009, but did not place deductions.
http://www.moneychimp.com/features/tax_brackets.htm
California state marginal tax rate for $52K is 9.3%. Total tax is $2531.35 = 4.9%
http://swz.salary.com/salarywizard/layouthtmls/swzl_statetaxrate_ca.htmlTotal tax rate is 6.2% + 13.39% + 4.9% = 24.49% (not including San Diego local tax (about 1%), not including property tax (about 1%) and health insurance. It also does not account for AGI adjustment for deductions – largest is mortgage interest deduction (which may drop him a state bracket but not a fed tax bracket, you can only deduct the interest not the principal) Nor does this take into account sales tax on virtually everything that Joe Legal buys (varying from location to location, but generally around 8%).
In reality, Jose Illegal will get $6/hour under the table working full time (if he does not want to work for that kind of money – there are lots out there who do).
During the real estate bubble – the illegals were getting more than $15/hour. In 1976, apprentice carpenters were making $15/hour, and journeymen were making a lot more.
January 19, 2010 at 8:44 AM #503491ucodegenParticipantThere’s absolutely no way a family with a $52,000 income would pay 30% in taxes. They’d pay $2000, tops (4%), in federal and state taxes combined.
Wrong:
Social Security = 6.2% for both employer and employee (total 12.4%)
http://www.socialsecurity.gov/OACT/ProgData/taxRates.html
Fed Income tax rate @ 52k = 15%(on amount above 16,700) + $802.5 = 13.39% – I used married filing jointly @ 2009, but did not place deductions.
http://www.moneychimp.com/features/tax_brackets.htm
California state marginal tax rate for $52K is 9.3%. Total tax is $2531.35 = 4.9%
http://swz.salary.com/salarywizard/layouthtmls/swzl_statetaxrate_ca.htmlTotal tax rate is 6.2% + 13.39% + 4.9% = 24.49% (not including San Diego local tax (about 1%), not including property tax (about 1%) and health insurance. It also does not account for AGI adjustment for deductions – largest is mortgage interest deduction (which may drop him a state bracket but not a fed tax bracket, you can only deduct the interest not the principal) Nor does this take into account sales tax on virtually everything that Joe Legal buys (varying from location to location, but generally around 8%).
In reality, Jose Illegal will get $6/hour under the table working full time (if he does not want to work for that kind of money – there are lots out there who do).
During the real estate bubble – the illegals were getting more than $15/hour. In 1976, apprentice carpenters were making $15/hour, and journeymen were making a lot more.
January 19, 2010 at 8:44 AM #503889ucodegenParticipantThere’s absolutely no way a family with a $52,000 income would pay 30% in taxes. They’d pay $2000, tops (4%), in federal and state taxes combined.
Wrong:
Social Security = 6.2% for both employer and employee (total 12.4%)
http://www.socialsecurity.gov/OACT/ProgData/taxRates.html
Fed Income tax rate @ 52k = 15%(on amount above 16,700) + $802.5 = 13.39% – I used married filing jointly @ 2009, but did not place deductions.
http://www.moneychimp.com/features/tax_brackets.htm
California state marginal tax rate for $52K is 9.3%. Total tax is $2531.35 = 4.9%
http://swz.salary.com/salarywizard/layouthtmls/swzl_statetaxrate_ca.htmlTotal tax rate is 6.2% + 13.39% + 4.9% = 24.49% (not including San Diego local tax (about 1%), not including property tax (about 1%) and health insurance. It also does not account for AGI adjustment for deductions – largest is mortgage interest deduction (which may drop him a state bracket but not a fed tax bracket, you can only deduct the interest not the principal) Nor does this take into account sales tax on virtually everything that Joe Legal buys (varying from location to location, but generally around 8%).
In reality, Jose Illegal will get $6/hour under the table working full time (if he does not want to work for that kind of money – there are lots out there who do).
During the real estate bubble – the illegals were getting more than $15/hour. In 1976, apprentice carpenters were making $15/hour, and journeymen were making a lot more.
January 19, 2010 at 8:44 AM #503979ucodegenParticipantThere’s absolutely no way a family with a $52,000 income would pay 30% in taxes. They’d pay $2000, tops (4%), in federal and state taxes combined.
Wrong:
Social Security = 6.2% for both employer and employee (total 12.4%)
http://www.socialsecurity.gov/OACT/ProgData/taxRates.html
Fed Income tax rate @ 52k = 15%(on amount above 16,700) + $802.5 = 13.39% – I used married filing jointly @ 2009, but did not place deductions.
http://www.moneychimp.com/features/tax_brackets.htm
California state marginal tax rate for $52K is 9.3%. Total tax is $2531.35 = 4.9%
http://swz.salary.com/salarywizard/layouthtmls/swzl_statetaxrate_ca.htmlTotal tax rate is 6.2% + 13.39% + 4.9% = 24.49% (not including San Diego local tax (about 1%), not including property tax (about 1%) and health insurance. It also does not account for AGI adjustment for deductions – largest is mortgage interest deduction (which may drop him a state bracket but not a fed tax bracket, you can only deduct the interest not the principal) Nor does this take into account sales tax on virtually everything that Joe Legal buys (varying from location to location, but generally around 8%).
In reality, Jose Illegal will get $6/hour under the table working full time (if he does not want to work for that kind of money – there are lots out there who do).
During the real estate bubble – the illegals were getting more than $15/hour. In 1976, apprentice carpenters were making $15/hour, and journeymen were making a lot more.
January 19, 2010 at 8:44 AM #504228ucodegenParticipantThere’s absolutely no way a family with a $52,000 income would pay 30% in taxes. They’d pay $2000, tops (4%), in federal and state taxes combined.
Wrong:
Social Security = 6.2% for both employer and employee (total 12.4%)
http://www.socialsecurity.gov/OACT/ProgData/taxRates.html
Fed Income tax rate @ 52k = 15%(on amount above 16,700) + $802.5 = 13.39% – I used married filing jointly @ 2009, but did not place deductions.
http://www.moneychimp.com/features/tax_brackets.htm
California state marginal tax rate for $52K is 9.3%. Total tax is $2531.35 = 4.9%
http://swz.salary.com/salarywizard/layouthtmls/swzl_statetaxrate_ca.htmlTotal tax rate is 6.2% + 13.39% + 4.9% = 24.49% (not including San Diego local tax (about 1%), not including property tax (about 1%) and health insurance. It also does not account for AGI adjustment for deductions – largest is mortgage interest deduction (which may drop him a state bracket but not a fed tax bracket, you can only deduct the interest not the principal) Nor does this take into account sales tax on virtually everything that Joe Legal buys (varying from location to location, but generally around 8%).
In reality, Jose Illegal will get $6/hour under the table working full time (if he does not want to work for that kind of money – there are lots out there who do).
During the real estate bubble – the illegals were getting more than $15/hour. In 1976, apprentice carpenters were making $15/hour, and journeymen were making a lot more.
January 19, 2010 at 9:35 AM #503363SK in CVParticipant[quote=ucodegen]
There’s absolutely no way a family with a $52,000 income would pay 30% in taxes. They’d pay $2000, tops (4%), in federal and state taxes combined.
Wrong:
Social Security = 6.2% for both employer and employee (total 12.4%)
http://www.socialsecurity.gov/OACT/ProgData/taxRates.html
Fed Income tax rate @ 52k = 15%(on amount above 16,700) + $802.5 = 13.39% – I used married filing jointly @ 2009, but did not place deductions.
http://www.moneychimp.com/features/tax_brackets.htm
California state marginal tax rate for $52K is 9.3%. Total tax is $2531.35 = 4.9%
http://swz.salary.com/salarywizard/layouthtmls/swzl_statetaxrate_ca.htmlTotal tax rate is 6.2% + 13.39% + 4.9% = 24.49% (not including San Diego local tax (about 1%), not including property tax (about 1%) and health insurance. It also does not account for AGI adjustment for deductions – largest is mortgage interest deduction (which may drop him a state bracket but not a fed tax bracket, you can only deduct the interest not the principal) Nor does this take into account sales tax on virtually everything that Joe Legal buys (varying from location to location, but generally around 8%).
In reality, Jose Illegal will get $6/hour under the table working full time (if he does not want to work for that kind of money – there are lots out there who do).
During the real estate bubble – the illegals were getting more than $15/hour. In 1976, apprentice carpenters were making $15/hour, and journeymen were making a lot more.[/quote]
See my numbers above. I computed the tax based on the 2009 rates.
Joe Legal wouldn’t pay the employers share of SS (which is actually 7.65% not 6.2%).
There is no local San Diego income tax. (You may be confused by SDI, which is state disability insurance. Currently 1.1%)
You didn’t take into consideration the standard deduction or personal exemptions or child tax credit on the federal, which would have greatly reduced their taxes to just over 2%. And the standard deduction and expemption credits on the state which would have eliminated any state income tax.
Sales taxes would have been paid equally both both Joes.
If they were renters or homeowners, they would have effectivly paid similar property taxes either through their landlord or directly.
January 19, 2010 at 9:35 AM #503510SK in CVParticipant[quote=ucodegen]
There’s absolutely no way a family with a $52,000 income would pay 30% in taxes. They’d pay $2000, tops (4%), in federal and state taxes combined.
Wrong:
Social Security = 6.2% for both employer and employee (total 12.4%)
http://www.socialsecurity.gov/OACT/ProgData/taxRates.html
Fed Income tax rate @ 52k = 15%(on amount above 16,700) + $802.5 = 13.39% – I used married filing jointly @ 2009, but did not place deductions.
http://www.moneychimp.com/features/tax_brackets.htm
California state marginal tax rate for $52K is 9.3%. Total tax is $2531.35 = 4.9%
http://swz.salary.com/salarywizard/layouthtmls/swzl_statetaxrate_ca.htmlTotal tax rate is 6.2% + 13.39% + 4.9% = 24.49% (not including San Diego local tax (about 1%), not including property tax (about 1%) and health insurance. It also does not account for AGI adjustment for deductions – largest is mortgage interest deduction (which may drop him a state bracket but not a fed tax bracket, you can only deduct the interest not the principal) Nor does this take into account sales tax on virtually everything that Joe Legal buys (varying from location to location, but generally around 8%).
In reality, Jose Illegal will get $6/hour under the table working full time (if he does not want to work for that kind of money – there are lots out there who do).
During the real estate bubble – the illegals were getting more than $15/hour. In 1976, apprentice carpenters were making $15/hour, and journeymen were making a lot more.[/quote]
See my numbers above. I computed the tax based on the 2009 rates.
Joe Legal wouldn’t pay the employers share of SS (which is actually 7.65% not 6.2%).
There is no local San Diego income tax. (You may be confused by SDI, which is state disability insurance. Currently 1.1%)
You didn’t take into consideration the standard deduction or personal exemptions or child tax credit on the federal, which would have greatly reduced their taxes to just over 2%. And the standard deduction and expemption credits on the state which would have eliminated any state income tax.
Sales taxes would have been paid equally both both Joes.
If they were renters or homeowners, they would have effectivly paid similar property taxes either through their landlord or directly.
January 19, 2010 at 9:35 AM #503909SK in CVParticipant[quote=ucodegen]
There’s absolutely no way a family with a $52,000 income would pay 30% in taxes. They’d pay $2000, tops (4%), in federal and state taxes combined.
Wrong:
Social Security = 6.2% for both employer and employee (total 12.4%)
http://www.socialsecurity.gov/OACT/ProgData/taxRates.html
Fed Income tax rate @ 52k = 15%(on amount above 16,700) + $802.5 = 13.39% – I used married filing jointly @ 2009, but did not place deductions.
http://www.moneychimp.com/features/tax_brackets.htm
California state marginal tax rate for $52K is 9.3%. Total tax is $2531.35 = 4.9%
http://swz.salary.com/salarywizard/layouthtmls/swzl_statetaxrate_ca.htmlTotal tax rate is 6.2% + 13.39% + 4.9% = 24.49% (not including San Diego local tax (about 1%), not including property tax (about 1%) and health insurance. It also does not account for AGI adjustment for deductions – largest is mortgage interest deduction (which may drop him a state bracket but not a fed tax bracket, you can only deduct the interest not the principal) Nor does this take into account sales tax on virtually everything that Joe Legal buys (varying from location to location, but generally around 8%).
In reality, Jose Illegal will get $6/hour under the table working full time (if he does not want to work for that kind of money – there are lots out there who do).
During the real estate bubble – the illegals were getting more than $15/hour. In 1976, apprentice carpenters were making $15/hour, and journeymen were making a lot more.[/quote]
See my numbers above. I computed the tax based on the 2009 rates.
Joe Legal wouldn’t pay the employers share of SS (which is actually 7.65% not 6.2%).
There is no local San Diego income tax. (You may be confused by SDI, which is state disability insurance. Currently 1.1%)
You didn’t take into consideration the standard deduction or personal exemptions or child tax credit on the federal, which would have greatly reduced their taxes to just over 2%. And the standard deduction and expemption credits on the state which would have eliminated any state income tax.
Sales taxes would have been paid equally both both Joes.
If they were renters or homeowners, they would have effectivly paid similar property taxes either through their landlord or directly.
January 19, 2010 at 9:35 AM #503997SK in CVParticipant[quote=ucodegen]
There’s absolutely no way a family with a $52,000 income would pay 30% in taxes. They’d pay $2000, tops (4%), in federal and state taxes combined.
Wrong:
Social Security = 6.2% for both employer and employee (total 12.4%)
http://www.socialsecurity.gov/OACT/ProgData/taxRates.html
Fed Income tax rate @ 52k = 15%(on amount above 16,700) + $802.5 = 13.39% – I used married filing jointly @ 2009, but did not place deductions.
http://www.moneychimp.com/features/tax_brackets.htm
California state marginal tax rate for $52K is 9.3%. Total tax is $2531.35 = 4.9%
http://swz.salary.com/salarywizard/layouthtmls/swzl_statetaxrate_ca.htmlTotal tax rate is 6.2% + 13.39% + 4.9% = 24.49% (not including San Diego local tax (about 1%), not including property tax (about 1%) and health insurance. It also does not account for AGI adjustment for deductions – largest is mortgage interest deduction (which may drop him a state bracket but not a fed tax bracket, you can only deduct the interest not the principal) Nor does this take into account sales tax on virtually everything that Joe Legal buys (varying from location to location, but generally around 8%).
In reality, Jose Illegal will get $6/hour under the table working full time (if he does not want to work for that kind of money – there are lots out there who do).
During the real estate bubble – the illegals were getting more than $15/hour. In 1976, apprentice carpenters were making $15/hour, and journeymen were making a lot more.[/quote]
See my numbers above. I computed the tax based on the 2009 rates.
Joe Legal wouldn’t pay the employers share of SS (which is actually 7.65% not 6.2%).
There is no local San Diego income tax. (You may be confused by SDI, which is state disability insurance. Currently 1.1%)
You didn’t take into consideration the standard deduction or personal exemptions or child tax credit on the federal, which would have greatly reduced their taxes to just over 2%. And the standard deduction and expemption credits on the state which would have eliminated any state income tax.
Sales taxes would have been paid equally both both Joes.
If they were renters or homeowners, they would have effectivly paid similar property taxes either through their landlord or directly.
January 19, 2010 at 9:35 AM #504248SK in CVParticipant[quote=ucodegen]
There’s absolutely no way a family with a $52,000 income would pay 30% in taxes. They’d pay $2000, tops (4%), in federal and state taxes combined.
Wrong:
Social Security = 6.2% for both employer and employee (total 12.4%)
http://www.socialsecurity.gov/OACT/ProgData/taxRates.html
Fed Income tax rate @ 52k = 15%(on amount above 16,700) + $802.5 = 13.39% – I used married filing jointly @ 2009, but did not place deductions.
http://www.moneychimp.com/features/tax_brackets.htm
California state marginal tax rate for $52K is 9.3%. Total tax is $2531.35 = 4.9%
http://swz.salary.com/salarywizard/layouthtmls/swzl_statetaxrate_ca.htmlTotal tax rate is 6.2% + 13.39% + 4.9% = 24.49% (not including San Diego local tax (about 1%), not including property tax (about 1%) and health insurance. It also does not account for AGI adjustment for deductions – largest is mortgage interest deduction (which may drop him a state bracket but not a fed tax bracket, you can only deduct the interest not the principal) Nor does this take into account sales tax on virtually everything that Joe Legal buys (varying from location to location, but generally around 8%).
In reality, Jose Illegal will get $6/hour under the table working full time (if he does not want to work for that kind of money – there are lots out there who do).
During the real estate bubble – the illegals were getting more than $15/hour. In 1976, apprentice carpenters were making $15/hour, and journeymen were making a lot more.[/quote]
See my numbers above. I computed the tax based on the 2009 rates.
Joe Legal wouldn’t pay the employers share of SS (which is actually 7.65% not 6.2%).
There is no local San Diego income tax. (You may be confused by SDI, which is state disability insurance. Currently 1.1%)
You didn’t take into consideration the standard deduction or personal exemptions or child tax credit on the federal, which would have greatly reduced their taxes to just over 2%. And the standard deduction and expemption credits on the state which would have eliminated any state income tax.
Sales taxes would have been paid equally both both Joes.
If they were renters or homeowners, they would have effectivly paid similar property taxes either through their landlord or directly.
January 19, 2010 at 9:52 AM #503368allParticipantThe focus is misplaced. Paying someone ‘under the table’ is against the law. I’d really like to read more about the payer who is exploiting Jose and impacting Joe, now that I know everything I need to know about Joe and Jose.
January 19, 2010 at 9:52 AM #503515allParticipantThe focus is misplaced. Paying someone ‘under the table’ is against the law. I’d really like to read more about the payer who is exploiting Jose and impacting Joe, now that I know everything I need to know about Joe and Jose.
January 19, 2010 at 9:52 AM #503914allParticipantThe focus is misplaced. Paying someone ‘under the table’ is against the law. I’d really like to read more about the payer who is exploiting Jose and impacting Joe, now that I know everything I need to know about Joe and Jose.
January 19, 2010 at 9:52 AM #504002allParticipantThe focus is misplaced. Paying someone ‘under the table’ is against the law. I’d really like to read more about the payer who is exploiting Jose and impacting Joe, now that I know everything I need to know about Joe and Jose.
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