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. #111
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    Re: Would you quit your job?

    Quote Originally Posted by ksu_aviator View Post
    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.
    This isn't a game show. You don't get points for being the most noble person alive. You just screw yourself over. Nobody will know how noble you are. You can brag sometimes about how great you are. For the most part, high horses are invisible. You will be the only one who knows how awesome you are. That's dumb.

  2. #112
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    Re: Would you quit your job?

    Quote Originally Posted by jamesrage View Post
    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%.
    Have you ever filled out a tax return? Social Security and Medicare are calculated perfect. Your logic is good but you have forgot somethings. Federal Income Tax and State Income Tax doesn't tax your entire income. If you make $47,000 per year, you may only pay taxes on $27,000. (I don't know the exact number.) If you have itemized deductions it could be even less. I'm not sure if the 25% rate and the 9.3% rate are accurate either.

    Your thinking was fair but try to understand why you were called out. Your analysis is too far dismissed from the reality of the situation. Taxes aren't logical.

  3. #113
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    Re: Would you quit your job?

    Quote Originally Posted by ChrisL View Post
    Not if you have a family, children.
    Hm. Well I had a wife and a (1) child on about the income being discussed as incapable of being lived on. We rated food stamps, wic, what have you, and never took it, and did just fine. Even managed to save a bit.

    But yeah, it wasn't much fun. Lots of bean soup and potatoes.

  4. #114
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    Re: Would you quit your job?

    Quote Originally Posted by cpwill View Post
    Hm. Well I had a wife and a (1) child on about the income being discussed as incapable of being lived on. We rated food stamps, wic, what have you, and never took it, and did just fine. Even managed to save a bit.

    But yeah, it wasn't much fun. Lots of bean soup and potatoes.
    Did you live in Massachusetts? Rents and mortgages are super expensive here. I think Massachusetts might be the third most expensive state to live in.

  5. #115
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    Re: Would you quit your job?

    Quote Originally Posted by cpwill View Post
    Hm. Well I had a wife and a (1) child on about the income being discussed as incapable of being lived on. We rated food stamps, wic, what have you, and never took it, and did just fine. Even managed to save a bit.

    But yeah, it wasn't much fun. Lots of bean soup and potatoes.
    At the time you were in the military and had other benefits that most people making that kind of money would not have received unless going on government assistance I believe (I might be wrong). Medical benefits, for one, the potential for on base housing or a housing allowance, this last one I have no idea, but the one base commissary might provide lower prices then off base stores
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  6. #116
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    Re: Would you quit your job?

    Quote Originally Posted by ChrisL View Post
    Did you live in Massachusetts?
    North Carolina.

    Rents and mortgages are super expensive here. I think Massachusetts might be the third most expensive state to live in.
    Which is one of the reasons I think assigning a blank number across the U.S. is problematic. $60K in Alabama is not the same as $60K in New York.

  7. #117
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    Re: Would you quit your job?

    Quote Originally Posted by Lord Tammerlain View Post
    At the time you were in the military and had other benefits that most people making that kind of money would not have received unless going on government assistance I believe (I might be wrong). Medical benefits, for one, the potential for on base housing or a housing allowance, this last one I have no idea, but the one base commissary might provide lower prices then off base stores
    Our housing allowance and food stuffs was actually included in that estimate - although the "value" of our health insurance (we still have copays, deductibles, etc) was not, any more than it would be counted in the salary discussion of any other full time job. As for the Commissary.... we actually found Wal-Mart cheaper.

  8. #118
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    Re: Would you quit your job?

    Quote Originally Posted by cpwill View Post
    North Carolina.



    Which is one of the reasons I think assigning a blank number across the U.S. is problematic. $60K in Alabama is not the same as $60K in New York.
    That's true, and I was talking about Massachusetts. That amount of money might be barely enough if you were single but not if you have a family.

  9. #119
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    Re: Would you quit your job?

    In Canada I was able to live on 28 000-32000 as a single adult. It was shared accommodation, and during that time 4 years or so I was able to save $12 000 or so, enough to put a down payment on a rental property. Two years after that period of time with an income in the mid 30s, I was able to save another $12 000 for a down payment for a condo for me.

    The numbers of course do not reflect that I had medical and dental benefits from my job, that many may not get, I also did not have to pay huge amounts for health insurance ( being in Canada). Excluding health care, the part of Canada I live in the cost of living is far more expensive then most areas of the US (major costal cities excepted).

    It can be done but you are not living well, you are not going out to eat, or buying a new cell phone every year etc. You have to cut your monthly fixed costs down to the bare minimum. One phone, most likely a land line, I would suggest no cable, and no internet if the public library has it available, a cheap car that was paid for in cash, and basic car insurance, if public transport is an option use that instead
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  10. #120
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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.
    Which doesn't fit the premise of the OP. Why would I give up a job to make less money and live less comfortably? I wouldn't. The OP offers a CHOICE. It's an easy choice: less money and less comfortably or more money and more comfortably. I'd like to know the motivations of anyone who would choose the former.
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