Unemployment almost 10% nationally

[booker81]

Quote:
Be careful what you wish for. Most folks don't pay anywhere near the effective income tax rate that they think they do.


If my math is correct, for a family of four with two children:

4 x 3650 = $14,600 in personal exemptions

standard deduction = $11,400

Two child tax credits of $1000 = somewhere around $19,000 above the $26,000 that is already exempt.

A family of four with two children making less than $45,000 isn't paying any federal income tax. That number raises if they have mortgage interest and property taxes exceeding the $11,400 standard deduction.

Of course - they most likely are still allowing themselves to be taxed through the year....so the government can spend that money as well, and then turn around and pay back that free loan.

I make $18+/hr, but with the deductions I take (HSA, FSA, 401k), I'm still skating under the limit for federal. I claim 4 exemptions - we file with 3 personal, one child credit, and mortgage interest. So, nothing withheld for federal on my paychecks, and I pay nothing at tax time.

Some folks don't call it fair. I call it smart. I'd rather manage my money than depend on the government to mismanage it. I do think a lot is left to learn for most folks about taxation. Too many see April 15th as a lottery winning day, and don't understand that 1) the amount you are "getting back" is merely what YOU forked over, and 2) there isn't some crazy raffle that determines what you "get back", it's just simply what you owe minus what you paid - pay too much, you get it back. I'd rather have an extra $400 a month every single month, than get $4800 back at once.

Fiscal responsibility starts in your own pocket.

As for when my income rises above what I can make exemptions for, I'll just back off my 401k and HSA/FSA to match what comes out for taxing. The information is available in Circular E (Employers Tax Guide), from the IRS.

 

[I have WHAT in my yard?]

Statistically the average american household is making something in the range of $52,000 per year.

So, to make this visual let's assume that for every ten grand you give one inch height. That means that the average family is about my height, 5 foot 2.

Got that image in your head?? Now, how high do you think the highest .o1% is?

Shaquille O'Neill? Maybe even a building?? How about even the Empire State Building?? Too high? Too low??

What do you think it is??

 

[michickenwrangler]

Quote:
Your first comment I read came across as "if you are complaining there is no work, then come move and work here where there is work". I just missed the 'if you tried EVERY other option first' part. But yes, I do agree, if you've tried everything else you should get up and go. I just don't think the numbers right now say what percent are at that point? How many really are at the bottom of the bucket.

My mom made a valid point... what if 10% is too low actually? What if its MORE!? Like my neighbor was 1099 subcontracted and can't get unemployment at all. Is he being counted? Do they know he works 2 days a week if he's lucky? Do they count all the people who've exhausted their unemployment? Do they count the people who had some money saved and never claimed unemployment?

I really think we're honestly in depression numbers by now!

Here it is after election and I have unanswered questions still... what a downer.

Like I said before, my brother and cousin (and actually another cousin too) all went out of state to look for work. Brother got a degree in business, was offered a job by Shell Oil. COusin 1 hasa degree in journalism, now works at a university in Missouri in admissions. Cousin 2 took off after high school mainly because she wanted out of Michigan. Out of that generation of 5 grandkids who have graduated high school and are college age, 2 out of 5 remain in Michigan.

I've read and heard that unemployment is usually about twice what the statistics say. So if the national statistic is 10%, the "real" number is probably closer to 20%. In Michigan, the 13% would be 26%, northern Michigan which is about 18%, would be 36%, over one-third.

 

[Dunkopf]

Quote:
If there are jobs available that they are physically and mentally capable of doing, I agree 100%. Of course if someone was making 60k a year and they get laid off they will get the maximum benefit of 1329.00 a month. 60k a year is 5000.00 a month. Just a little bit of a shortfall there. If you have no savings which admittedly would be irresponsible, the you are SOL. These claims about people turning down 10.00 an hour jobs because they can make more than that on unemployment are false. 10.00 an hour=over 1600 per month when you consider that a month is usually more than 20 working days.

The base for unemployment is 50% of your wage up to a maximum of 1329.00 per month. So if you were making minimum wage then you have to live on 1/2 of minimum wage. So I guess if you are a teenager living at home you would be ok. Otherwise you are SOL. Raise your hand if you think if you can live on 1/2 of minimum wage.

I would get 1329.00 a month if I got laid off. I have 5 kids. I have a 401k but not a whole lot in savings. I have no relatives or friends to go live with. I don't know what I would do if I got laid off.

All I know is that I'm getting sick of the politicians allowing the rich to prosper more and more while people starve in the streets or have to go from a comfortable style of living to eating beans and living in a 1 room rat infested hovel, because some greedy executive sent their job to India or China along with 10 million other jobs all in the name of the almighty dollar. Of course the politician gets a 100k donation to his campaign so he can convince all the gullible low information voters to vote for him and keep the cycle going.

 

[Dunkopf]

I have WHAT in my yard? :

Statistically the average american household is making something in the range of $52,000 per year.

So, to make this visual let's assume that for every ten grand you give one inch height. That means that the average family is about my height, 5 foot 2.

Got that image in your head?? Now, how high do you think the highest .o1% is?

Shaquille O'Neill? Maybe even a building?? How about even the Empire State Building?? Too high? Too low??

What do you think it is??

Well the avg CEO makes 300x what their average worker makes. I would guess around 5000' or so and I bet I'm low.​

 

[Organics North]

Quote:
If there are jobs available that they are physically and mentally capable of doing, I agree 100%. Of course if someone was making 60k a year and they get laid off they will get the maximum benefit of 1329.00 a month. 60k a year is 5000.00 a month. Just a little bit of a shortfall there. If you have no savings which admittedly would be irresponsible, the you are SOL. These claims about people turning down 10.00 an hour jobs because they can make more than that on unemployment are false. 10.00 an hour=over 1600 per month when you consider that a month is usually more than 20 working days.

The base for unemployment is 50% of your wage up to a maximum of 1329.00 per month. So if you were making minimum wage then you have to live on 1/2 of minimum wage. So I guess if you are a teenager living at home you would be ok. Otherwise you are SOL. Raise your hand if you think if you can live on 1/2 of minimum wage.

I would get 1329.00 a month if I got laid off. I have 5 kids. I have a 401k but not a whole lot in savings. I have no relatives or friends to go live with. I don't know what I would do if I got laid off.

All I know is that I'm getting sick of the politicians allowing the rich to prosper more and more while people starve in the streets or have to go from a comfortable style of living to eating beans and living in a 1 room rat infested hovel, because some greedy executive sent their job to India or China along with 10 million other jobs all in the name of the almighty dollar. Of course the politician gets a 100k donation to his campaign so he can convince all the gullible low information voters to vote for him and keep the cycle going.

I honestly can not understand people and why they think it is bad to have a safety net. European countries that have high safety nets have very very low crime rates. ie small empty prisons.. We just keep building bigger and bigger prisons, we would rather spend millions on prisons instead of education, and providing a safety net for those at the bottom and desperate.

ON

 

[Dunkopf]

Quote:
Well I worked 2 jobs or 70 hr or more a week...to get what I have, then the government wants to tax me higher ,and give it out to those that don't even work or pay for their health care. Have no problem helping the needed...........but why should I have to pay for the unemployed for 2 yrs ,because they don't want to work a lower paying job....ever hear those people say "I can made more than that on unemployment" when offer a job making 10.00 an hour. I have.


fair tax everyone the same ...flat tax % for everyone, the more u make ,still more you pay.....like that crazy earn income credit crap. people getting more of a refund than was with held....

anyway sure happy the way Ohio election came out....lot of other people like me sick and tired of all this tax and spend...

So your life is miserable and every other low class persons should be to.? Stab them in the back take what is left when they are dead in the street?
Fight over the crumbs tossed down by the elite?
A 15% tax does NOT have the same impact on someone making 50K a year as it does on some one making 500K a year.... THIS is a fact...

The government should not be taxing folks at $10 an hour, matter of fact I do not think they do? (If you do your taxes correctly!) The hard cold fact is the rich are getting richer and the poor are getting poorer... (Keep in mind it is the majority of us that are getting poorer.)

We sit here bickering about the tiny amount of money involved in unemployment, while billions and trillions are given to defunct auto manufactures such as GM, fat bankers, and the top tier elite, and the cost of the "bush" wars on sadam...

This is deeply disturbing to me, we do not want to support our own kind but would rather work our tails of for the elite..

I feel I have some merit to speak from, I used to make 100 to 300K per year. Know I make 10K a year self employed.. I found it funny when I was in the money.. That SS taxes were capped and I had to pay no more.. It was like winning the lotto and then getting a bonus on top of that... Also I paid no more percent tax than someone making way less than half what I did.. IMO this country is severely skewed twords rewarding the wealthy and punishing the working class... Being a rich DINK was great with all you red voting "working class": working 70 hours a week for $10 an hour and voting to support us high living DINKS... (Just to be sure one of your kind does not get anything you don't?...

)

Having come from a poor working class background, then hitting it "big" and then being back to a poor working person... Gives me a perspective, one which makes it extreamly difficult for me to understand the motives of those working class folks that are against things such as unemployement bennifits or investing in retraining workers.

Sorry, it must have been working for a Finnish company for some 17years has turned me into a Socialist... (Yes me and my Finnish coworkers compared all the numbers in details for well over a decade.) Fact is we in the USA are getting duped. Our country is failing, we are loosing technology and manufacturing jobs, our education system is lacking. we are sick, we have high health care costs, and low life span averages.

Sorry I am ranting...

ON

You may be ranting but you are 100% correct. A lot of those people scraping by, listen to these talking heads filling their heads with garbage. They don't realize those goofy looking guys are just talking about what they have been paid to say by the elite. It's called brainwashing and the American public has obviously fallen for it again.

 

[Organics North]

Quote:
Well the avg CEO makes 300x what their average worker makes. I would guess around 5000' or so and I bet I'm low.

Ohh Top .01% Hmmm I am going to say they are as tall as Mount Everest (29,029 feet)..??

ON

 

[knjinnm]

Quote:
Huh! Who is getting paid not to work? Are referring to unemployment insurance that everyone pays into when they are working?

 

[deerman]

Quote:
If there are jobs available that they are physically and mentally capable of doing, I agree 100%. Of course if someone was making 60k a year and they get laid off they will get the maximum benefit of 1329.00 a month. 60k a year is 5000.00 a month. Just a little bit of a shortfall there. If you have no savings which admittedly would be irresponsible, the you are SOL. These claims about people turning down 10.00 an hour jobs because they can make more than that on unemployment are false. 10.00 an hour=over 1600 per month when you consider that a month is usually more than 20 working days.

The base for unemployment is 50% of your wage up to a maximum of 1329.00 per month. So if you were making minimum wage then you have to live on 1/2 of minimum wage. So I guess if you are a teenager living at home you would be ok. Otherwise you are SOL. Raise your hand if you think if you can live on 1/2 of minimum wage.

You are forgetting if they made the 1600 per month that is gross the net would be alot less, and yes I know some that would not take a 10.00 an hour job, they said so.