The Majority Of Americans Live Paycheck To Paycheck

[R.E.N. Spells Ren]

15 percent on first 43,561
22 percent on 43,561 to 87 ,123
26 percent on 87,123 to 135,054
29 percent over 135,054

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So how could you get a raise and make less money?

Here, the way that tax bracket works(using your brackets) , if you make 85k, then the first 43561 is taxed at 15% and the next 41439 is taxed at 22%...so getting a raise would never mean you end up making less money. Your effective tax rate would go up (say you get a 10k raise, it would go from 18.4% to 18.5%) but you'd still take home more money

I don't see how you made less money by getting a raise...unless things work differently in Canada.

 

[Trip]

Lets be honest...stuff was less espensive back then....but our parents and grandparents generations saved.

Our generation does not. We splurge.

 

[Rarely-Wrong Liggins]

I don't live paycheck to paycheck

Got 13,000+ in savings and all student loans paid off and I'm 27


LIVE AT HOME BRUHS

Not an option. My mom moved in with me.

 

[Chris.B]

Lets be honest...stuff was less espensive back then....but our parents and grandparents generations saved.

Our generation does not. We splurge.

actually is the other way round

 

[patscorpio]

i bet all these IT coli nikkas doin fine doe

i am

but seriously some good knowledge is being dropped in here

 

[R.E.N. Spells Ren]

actually is the other way round

Explain.

 

[Chris.B]

Explain.

More Young People Ditching Credit Cards
http://bucks.blogs.nytimes.com/2013/06/20/more-young-people-ditching-credit-cards/?_r=0

 

[R.E.N. Spells Ren]

More Young People Ditching Credit Cards
http://bucks.blogs.nytimes.com/2013/06/20/more-young-people-ditching-credit-cards/?_r=0

That doesn't refute his claims tho. Folks ditching credit cards since the market crash, which highlighted how bad that credit card debt was.

 

[Trip]

actually is the other way round

not even close

most of us have zero concept of saving

 

[R.E.N. Spells Ren]

not even close

most of us have zero concept of saving

I think the problems started with our parents, tho (assuming we're both children of baby boomers)...it came to a head with our generation.

 

[Danie84]

How is this a revelation

 

[Trip]

I think the problems started with our parents, tho (assuming we're both children of baby boomers)...it came to a head with our generation.

Sure, after they made money and could afford a house they probably overspent.

But at least the folks that I grew up around(parents and so forth) definitely saved to live they way they could and provide for their kids. Buy a house, car...etc...

Now their kids are just spoiled rotten...are in their mid to late 20's and spending on everything and anything. People forget the boomers did save...they just went crazy after they got settled and their pay increased.

 

[Mr swag]

More Young People Ditching Credit Cards
http://bucks.blogs.nytimes.com/2013/06/20/more-young-people-ditching-credit-cards/?_r=0

The reason is because the APR is fukking 17 to 20%

 

[Battle Beast]

What hurts de yout dem dis generation is they have a hole heap a pickney dem before dey can establish demself.

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[CrimsonTider]

Sure, after they made money and could afford a house they probably overspent.

But at least the folks that I grew up around(parents and so forth) definitely saved to live they way they could and provide for their kids. Buy a house, car...etc...

Now their kids are just spoiled rotten...are in their mid to late 20's and spending on everything and anything. People forget the boomers did save...they just went crazy after they got settled and their pay increased.

There's no proof of this... Just assumption that aren't based on anything

There is proof that people are straddle with a lot of debt at a you age( student loan), low wages and high cost of living.