View Poll Results: If you were guaranteed a $25,000 income would you quit your job and stay unemployed?

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  • Yes

    17 13.71%
  • No

    90 72.58%
  • I don't have a job

    13 10.48%
  • I don't know

    4 3.23%
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Thread: Would you quit your job?

  1. #101
    Advisor Nynaeve Meara's Avatar
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    Re: Would you quit your job?

    Quote Originally Posted by Lord Tammerlain View Post
    Read further down



    The median income is more reflective as it generally excludes excessive outliers
    If you don't include the outliers than you aren't including the full data set.
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  2. #102
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    Re: Would you quit your job?

    Quote Originally Posted by Nynaeve Meara View Post
    Average includes outliers as well.
    Depends on the average you are using

    Mean, median, or mode

    Mean, the average can be skewed by outliers, which when considering average income would be a small percentage of the population having wages that are high multiples of what would be the center of the bell curve. Ie a few people earning 10 million a year skews the average upward.
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  3. #103
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    Re: Would you quit your job?

    Quote Originally Posted by Hypersonic View Post
    Um no..Stop guessing...Jesus.
    Why does he have to guess? He can simulate a 2012 income of $47,000, prepare a federal tax return and a California tax return. That's not guessing. That's called tax planning. Most financial advisor know how to do this.

  4. #104
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    Re: Would you quit your job?

    Quote Originally Posted by sawyerloggingon View Post
    I'm semi retired and only make around 30k a year to avoid sucking to much out of my retirement savings so I guess I'd quit working for 25K a year except that a lot of my income is a result of cleaning up my land so I don't know what I would do with all the fire wood and lumber I now sell. That would be a problem.
    if that was disability pay you could still make another 16k so it would actually give you a raise to do it.

  5. #105
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    Re: Would you quit your job?

    Quote Originally Posted by Hypersonic View Post
    Um no..Stop guessing...Jesus.
    I figured it out.

    Annual income $47,000.00
    Social Security $2,914.00
    Medicare $681.50
    Federal Taxes without any special deductions and all of that. $5,950.00
    California Taxes without any special deducations and all of that. $1,999.47

    That leaves you with a take home pay of $35,455.03. You earned $10,455.03 by choosing to go to work. Was it worth it? Only the individual could decide. I currently make $16,640 a year and my wife makes $13,500 per year. I'd probably take this $25,000 unless we each get $25,000. At that point it becomes a no-brainer.

  6. #106
    Advisor Nynaeve Meara's Avatar
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    Re: Would you quit your job?

    Quote Originally Posted by Lord Tammerlain View Post
    Depends on the average you are using

    Mean, median, or mode

    Mean, the average can be skewed by outliers, which when considering average income would be a small percentage of the population having wages that are high multiples of what would be the center of the bell curve. Ie a few people earning 10 million a year skews the average upward.
    The problem with median is we don't know where they cut off the outliers. Did they remove the people who make nothing all year? That would skew the median heavily downward if they didn't.
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  7. #107
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    Re: Would you quit your job?

    Quote Originally Posted by CaptainCourtesy View Post
    $25,000/year is no where NEAR enough to live on, so even if I didn't like my job, absolutely not.

    Regardless, I love my job, so no.
    I lived on $17,000 a year, without food stamps. You can do it. It just isn't that wonderful.
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  8. #108
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    Re: Would you quit your job?

    Quote Originally Posted by vasuderatorrent View Post
    I figured it out.

    Annual income $47,000.00
    Social Security $2,914.00
    Medicare $681.50
    Federal Taxes without any special deductions and all of that. $5,950.00
    California Taxes without any special deducations and all of that. $1,999.47

    That leaves you with a take home pay of $35,455.03. You earned $10,455.03 by choosing to go to work. Was it worth it? Only the individual could decide. I currently make $16,640 a year and my wife makes $13,500 per year. I'd probably take this $25,000 unless we each get $25,000. At that point it becomes a no-brainer.
    Yes, it is worth it. Because although it isn't much more than the gov guarantee, at least I'm not a leech relying on society.
    You, my brothers and sisters, were called to be free. But do not use your freedom to indulge the flesh; rather, serve one another humbly in love.For the entire law is fulfilled in keeping this one command: “Love your neighbor as yourself.”

  9. #109
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    Re: Would you quit your job?

    Quote Originally Posted by ksu_aviator View Post
    I lived on $17,000 a year, without food stamps. You can do it. It just isn't that wonderful.
    Not if you have a family, children.

  10. #110
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    Re: Would you quit your job?

    Quote Originally Posted by Hypersonic View Post
    Um no..Stop guessing...Jesus.
    After federal which is $4,991.25 + 25%,state which is 9.3%. , SS which is 6.2%([size=1]assuming you are self employed, its higher if you are self employed[\size]) and medicare which is 1.45%([size=1]assuming you are self employed, its higher if you are self employed[\size]) taxes which is your income tax rate is over 40%.
    "A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murder is less to fear"

    Cicero Marcus Tullius

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