Someone explain taxes to me

[Nayelie]

I am asking about taxes taken from paychecks.

(These numbers are slight estimates and not exact)

So I get paid weekly. In a 30 hour week, making 10.50 an hour, I only get $275 from the $315 I was supposed to make. Around 12% taken out.

My boyfriend who gets paid every two weeks, clocked in 88 hours, 8 of them being overtime, making 10.50 an hour, only gets around $750 of the $950ish he earned. Over 20% is taken out.

Why the huge difference?

[Catta]

I am asking about taxes taken from paychecks.

(These numbers are slight estimates and not exact)

So I get paid weekly. In a 30 hour week, making 10.50 an hour, I only get $275 from the $315 I was supposed to make. Around 12% taken out.

My boyfriend who gets paid every two weeks, clocked in 88 hours, 8 of them being overtime, making 10.50 an hour, only gets around $750 of the $950ish he earned. Over 20% is taken out.

Why the huge difference?

Because he earns more?

[Puremallace]

The amount of deductions and also below

Tax brackets: http://taxfoundation.org/blog/2013-tax-brackets

[Deadmedic]

the more you make the more the government takes, these are called "tax brackets" also you guys might have claimed different things on your w2, you could have claimed 1 for your self meaning the goverment will take less out of your check every week but you might end up having to pay in at the end of the year, he might have claimed 0 meaning alot taken out, but the biggest refund possible next year.

[chadwix]

We punish success. Someone has to buy deli subs, mt dew and doritoes for those who refuse to work.

[Reeve]

I am asking about taxes taken from paychecks.

(These numbers are slight estimates and not exact)

So I get paid weekly. In a 30 hour week, making 10.50 an hour, I only get $275 from the $315 I was supposed to make. Around 12% taken out.

My boyfriend who gets paid every two weeks, clocked in 88 hours, 8 of them being overtime, making 10.50 an hour, only gets around $750 of the $950ish he earned. Over 20% is taken out.

Why the huge difference?

He earns more than you for one, and also he probably has different exemptions/deductions than you do. It may be that he's withholding too much, too, in which case he'll get back the difference when he files his taxes.

[Gamdwelf]

Its called a progressive tax you are taxed a greater percent of your income the more you make.

[WskyDK]

Does he has 401(k), benefits, or anything else being taken out? How many dependents did he claim? Is he above the poverty level? (i'm not sure what it's baselined at anymore)
There are numerous things that can be affecting his take home, what's likely though is that he claimed 0 dependents and is therefor having more taken out per check, but will get more back at tax time

[Purlina]

Also he probably has more then just taxes taken out.

For example 401k plan anyone? I have about 15% of my paycheck go into my 401k...

[Kujako]

Also, remember that deductions are just an estimate. You dont really pay your taxes till the end of the year when you do your tax returns. At that time, you may find you under estimated and owe more, or over estimated and are due a refund.

[Nayelie]

I have no idea what he claimed on his W2. No dependents or anything. I have two other jobs, so I get to file two W2s and a 1099.

Hm...this all has been helpful everyone. Thank you.

[WskyDK]

I have no idea what he claimed on his W2. No dependents or anything. I have two other jobs, so I get to file two W2s and a 1099.

Hm...this all has been helpful everyone. Thank you.

he can claim himself as a dependent

[PBitt]

Its called a progressive tax you are taxed a greater percent of your income the more you make.

More or less this. Especially when you count overtime, it sounds great on paper but they fuck you up the ass, twice when they can, and you get more money taken out per hour once you hit overtime (so unless you really like your job or you have a lot of bills to pay, overtime is really not all that worth it).

[Unclekreepy]

We punish success. Someone has to buy deli subs, mt dew and doritoes for those who refuse to work.

shouldn't look at it like that...


look at it as "they make more they can afford it and still be happy"

[Deadmedic]

We punish success. Someone has to buy deli subs, mt dew and doritoes for those who refuse to work.

OR, you can think of it this way, everyone should pay 39.6% in taxes, but the government realizes that no one can survive off of minimum wage and gives those ppl a break, cause really, if you make less than 10k a year you prolly eat ramen noodles for breakfast lunch and dinner, so they only asks for 10%, then gradually increases it to the normal lvl at different monetary points where ppl can handle it. (because clearly this is a better idea than raising minimum wage...)

so really we arnt punishing the successful, we are just making things better for the less fortunate, if you want to say that ALL taxes should be lower, however, you might have an argument, but i kinda like having an infrastructure

[ponth]

I pay 35% tax, which is roughly what a normal person pays here. It's worth it.

[Ssith]

We punish success. Someone has to buy deli subs, mt dew and doritoes for those who refuse to work.

buy your own god damn roads then.

[Vuljatar]

We punish success. Someone has to buy deli subs, mt dew and doritoes for those who refuse to work.

This, basically.

The government is an endlessly hungry black hole of money. They steal from everyone, every single one of your dollars is taxed when you earn it, when you save it, when you spend it, when you give it away, and even when you die. They steal a higher percentage from more successful people because they know that idiots will say things like "Nobody needs as much money as those people make!", without a thought for the concept that they earned it, so it is theirs or the fact that the government doesn't need that money either. And in spite of all of that, the government STILL has to print more fiat currency every single year (further devaluing the money in our pockets) to keep up with it's appalling spending.

The level of waste is truly unbelievable, between rampant military spending in wars that don't benefit U.S. citizens in any way, bailouts to keep failed companies alive and prevent new ones from rising, subsidies to select businesses (the ones that own enough of the politicians) without any possible justification, and free money for people too lazy to work. And yet the space program--something of critical importance to the future of the entire human race--is woefully underfunded.

We could cut the national budget in half and nothing of value would be lost.

[Reeve]

This, basically.

The government is an endlessly hungry black hole of money. They steal from everyone, every single one of your dollars is taxed when you earn it, when you save it, when you spend it, when you give it away, and even when you die. They steal a higher percentage from more successful people because they know that idiots will say things like "Nobody needs as much money as those people make!", without a thought for the concept that they earned it, so it is theirs or the fact that the government doesn't need that money either. And in spite of all of that, the government STILL has to print more fiat currency every single year (further devaluing the money in our pockets) to keep up with it's appalling spending.

The level of waste is truly unbelievable, between rampant military spending in wars that don't benefit U.S. citizens in any way, bailouts to keep failed companies alive and prevent new ones from rising, subsidies to select businesses (the ones that own enough of the politicians) without any possible justification, and free money for people too lazy to work. And yet the space program--something of critical importance to the future of the entire human race--is woefully underfunded.

We could cut the national budget in half and nothing of value would be lost.

They didn't earn it without the help of the government and the stability it brings to society, as well as the infrastructure it provides.

Also, taxation is not stealing, and not "every single one of your dollars" is taxed.

[Purlina]

This, basically.

The government is an endlessly hungry black hole of money. They steal from everyone, every single one of your dollars is taxed when you earn it, when you save it, when you spend it, when you give it away, and even when you die. They steal a higher percentage from more successful people because they know that idiots will say things like "Nobody needs as much money as those people make!", without a thought for the concept that they earned it, so it is theirs or the fact that the government doesn't need that money either. And in spite of all of that, the government STILL has to print more fiat currency every single year (further devaluing the money in our pockets) to keep up with it's appalling spending.

The level of waste is truly unbelievable, between rampant military spending in wars that don't benefit U.S. citizens in any way, bailouts to keep failed companies alive and prevent new ones from rising, subsidies to select businesses (the ones that own enough of the politicians) without any possible justification, and free money for people too lazy to work. And yet the space program--something of critical importance to the future of the entire human race--is woefully underfunded.

We could cut the national budget in half and nothing of value would be lost.

Good luck becoming a success without schools, roads, or basic infrastructure!