News for hackers. Stuff that matters.

A comment on America's True Unemployment Rate. Parent comment

Re:America's True Unemployment Rate by throwaway0a5e on Tuesday October 20, 2020 @11:09AM (#24838212)
$2000/mo take home in a cheap area is great. $2000 gross is going to be a lesson about taxes.
[ Parent | on HN ]
Re:America's True Unemployment Rate by phil21 on Tuesday October 20, 2020 @09:20PM (#24843992)
> $2000 gross is going to be a lesson about taxes.

Depends on state and family status, but probably not. Someone making $28k/yr is paying pretty much FICA taxes and not much else federally speaking.

If they happen to have any dependents then they are probably paying negative tax rates via the EITC. Sometimes substantially so.

Source: I do taxes for a about a dozen folks "back home" growing up in a more economically disadvantaged area than average.

[ Parent | on HN ]