Who would miss 5% of their pay check and what income bracket are you in?

Who would miss 5% of their pay check and what income bracket are you (or your household) in? This is to correct the mistake made in the other poll I made,hopefully all the mistakes are corrected with this poll.

This is a spin off from the other thread and a two part question. select any of the top five choices of who you think would miss 5% of their paycheck and select any one of the bottom five choices that applies to you or your household total.



Who would miss 5% of their pay check


I think Upper class-$500,000 or above would miss 5% a year ($25,000 and above) from their paycheck/income.
I think Upper-middle class($250,000 - $500,000) would miss 5% a year($12,500-$25,000) from their paycheck/income.
I think Middle-middle class($125,000 - $250,000) would miss 5% a year ($6,250-$12,500) from their paycheck/income.
I think lower-middle class-($50,000 - $125,000) would miss 5% a year($2,500-$6,250) from their paycheck/income.
I think Lower class($0 to $50,000) would miss 5% a year ($0.00-$2,500) from their paycheck/income.



and what income bracket are you (or your household) in?

I or my household would be considered upper class income bracket
I or my household would be considered upper middle class income bracket
I or my household would be considered middle-middle class income bracket
I or my household would be considered lower middle class income bracket
I or my household would be considered lower class income bracket



I say anyone regardless of income made would miss 5% of their paycheck because 5% is still at least two hours worth of work a week(assuming you work only 40 hours a week) of your life that you are never going to get back.



These numbers are based on this article. I realize that in different parts of the country the cost of living is higher. While in some parts of Oklahoma you can buy a decent home for around $20,000 while in NewYork city or California you could make $250,000 a year and still couldn't buy a decent home(from what I heard).

Next Income Bracket Economic Classes in the USA

Income of 125,000 a year is now considered lower middle class?

i would not miss 5% of my income and would gladly give that and more if i new that it would be spent on the less fortunate and not put in the pockets of the bankers and politicians.

so instead of taxes many people who feel as i do give to charities.

Gardener said:

Income of 125,000 a year is now considered lower middle class?

Click to expand...

Probably depends on what part of the country you are in. But does Uncle Sam take more or less out of your paycheck depending on what part of the country you are in? Would Uncle Sam take more out of someone in Oklahoma who made $125,000 than someone in New York City who made $125,000(is there member who does taxes for a living that could answer this with a definite yes or no)?

IN Oklahoma there are few people making $125,000 yearly, hence the cost to buy a home there is much lower. In NY city salaries are much higher, therefore real estate is also higher.

It's all supply and demand. Apparently, Oklahoma isn't really a happening place like NY is.

Depends what the money will be used for.

5% additional taxation to save me from 50% additional taxation in the future is a tiny, tiny, tiny price to pay.

I've never made a dime above $25,000 a year in my life-- and when I'm making more than ten bucks an hour I feel positively bourgeoisie.

5% of my paycheck would never have made the difference between affording something important and skipping it. Never would have made the difference between getting a meal and skipping a day. Even when I was on Social Security, making $700 a month and spending $100 on the worst health insurance I've ever had (except for none at all), an extra $30 a month wouldn't have hurt me. What matters is what the tax money gets spent on.

And don't even start whining to me about how rich folk are going to miss it more than I do. When you're defining "poor" as people making twice as much as I ever have in my life, I've got absolutely no sympathy for the victims in your story.

I would be considered lower-middle class apparently. I didn't vote on any of the choices, because I think it greatly depends on the family situation. Some lower-class people would be okay losing 5% because they're frugal. Some upper class people would miss it because they live outside their means and are barely making ends meet even with their large salaries. I think that the vast majority of people though, would be able to get by on 5% less money if necessary. They'd just cut back on a few non-necessary items.

Per your poll I'm considered lower income and I would miss .1% of my paycheck.

It's my money that I earned not anyone else. It's nobodies place to decide to take it either.
I am frugal to maximize the utility of my income, so someone taking advantage of my frugality by trying to guilt me into paying more taxes will only receive my anger.

Where did you get those numbers? $50,000 is lower class? $250,000 is middle-middle class?

You must live in a very rich state. What is the average hourly wage over there?

I cannot answer this poll, because the answer I would give is not on it. No matter my income bracket, if the government took an additional 5% of my pay check, over and above what they are taking now through income taxes, then they have committed theft.

I would miss 1% of my paycheck.

Hell, it's mine, and I care very much for it.

Who WOULDN'T miss another 5% of their paycheck? I'm already taxed enough.

Are you saying an extra 5% or a flat tax of 5% and no other taxes? Lots of gray area here man...

Right now my wife is not working and is finishing college. So yes, right now I would miss 5%. Once she is working again. Probably not since we can (barely) make ends meet right now and we did great over Christmas while she had a part-time minimum wage job during Christmas break.

By the way, I find it hard to believe those brackets. According to the this, the median household income is about $52,000 (in 2008, but it probably has gone down from there due to the high unemployment).

http://www.census.gov/prod/2009pubs/acsbr08-2.pdf

they turned off my gas Monday, due to being behind $41.00. what does that tell you about my financial situation?

Opps, I screwed up and only voted for the options directly applying to me.

Yeah, I'd miss 5%. Especially if it was 5% after taxed income

It really is all relative.

If taxes were raised 5% more, and then (for all intents and purposes) everyone forgot it was raised and assumed the new higher tax had been like that for 100 years - would people be actually less happy?

I don't think so.

For example: 42 inch TV's were the best at satisfying people until 50 inch ones came out...it's not like 50 inch TV's make someone happier than a 42 inch, but knowing you could get a 8 inch bigger TV creates the lack of happiness; and buying the 50 inch TV makes you happy to negate the void created when you had the older model.

So if you never new there was a tax raise, yet you were making less money, I would guess you would be just as well off in terms of happiness - since just like the 42 inch TV, you never thought of the future (or past in the tax case) that there was a 50 inch one (and in this case - less taxes).

Get what I am saying?

Ya I gotta agree with everyone who has said that the numbers don't make much sense. $125K is lower-middle class? $250K is middle-middle class? :shock:
Even here in DC where the cost of living is very high...if you're making $125K you're doing pretty well.

But to answer the question, I think if you're making less than $100K you're probably going to miss 5% of your paycheck. If you're making $100K-$200K, you might or might not depending on your circumstances. If you're making more than $200K, you probably won't miss it. Obviously there are exceptions to all of those, but in general that's how I see it.

I would not miss 5%.