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No, sorry ... everyone cannot move to the mountains of Appalachia, and if they did, the prices would increase.
And I just checked on apartments dot com ... for the state of Tennessee, and other than shared student housing, there are no $300/m places to live there, so you're either lying or living in a tree fort.
If Mom is paying $250 rent for a 4BR 2B house, she's being subsidized by the state. It's as simple as that.
I have lived in Kalamazoo MI, Southfield MI, Fulton KY, Union City TN, Hopkinsville, KY, Nashville, TN, and now in Florida, and lots of places in between.
All of them, and I mean every place I've been to, has places to rent for around 300 at the most, and less than that in a lot of places.
Sorry, apartments.com isn't a good source. Every time I've tried to use them, they only have the apartments that pay them to list. The cheaper apartments, generally don't have the money to spend on apartments.com advertising.
Hell, I know two, two bedroom apartments for rent in Destin right now for 600 a month, all utilities paid. You take into account, 200 for electric, and 70 for water, you're down around that 300 mark, and thats minutes from the beach.
I have lived in Kalamazoo MI, Southfield MI, Fulton KY, Union City TN, Hopkinsville, KY, Nashville, TN, and now in Florida, and lots of places in between.
All of them, and I mean every place I've been to, has places to rent for around 300 at the most, and less than that in a lot of places.
Sorry, apartments.com isn't a good source. Every time I've tried to use them, they only have the apartments that pay them to list. The cheaper apartments, generally don't have the money to spend on apartments.com advertising.
Hell, I know two, two bedroom apartments for rent in Destin right now for 600 a month, all utilities paid. You take into account, 200 for electric, and 70 for water, you're down around that 300 mark, and thats minutes from the beach.
Get out more.
You are now talking about shared living. While I approve and encourage it, you need to be up front about that from the beginning. You can stuff lot's of people into an apartment and get the rent down to $100 each too, but it's not how people can easily live.
And the fact is that IF a bunch of people decided to up and move to where housing is more affordable it soon wouldn't be affordable. That's a fact that you just can't get around. Plus there is the whole "where the jobs are" thing.
You are now talking about shared living. While I approve and encourage it, you need to be up front about that from the beginning. You can stuff lot's of people into an apartment and get the rent down to $100 each too, but it's not how people can easily live.
And the fact is that IF a bunch of people decided to up and move to where housing is more affordable it soon wouldn't be affordable. That's a fact that you just can't get around. Plus there is the whole "where the jobs are" thing.
No, thats not shared living, thats one family, living in one, two bedroom apartment.
I know shared living, I did it when I first moved here. I rented a room from a guy for 150 a month.
The apartments I listed are leased, for one year terms, at 600 a month, with all utilities paid. Every apartment, save one, I've lived in had all utilities paid.
It is likely, he is quoting what is withheld in his paycheck, which is likely much higher, percentage wise that is.
Then he should file a revised W-4 or get rid of whatever idiotic formula he is using to do quarterly estimates. Taxpayers have substantial control over the amounts withheld. There is no requirement to have more than 90% of your current year tax liability or 100% of your prior year tax liability withheld, which ever is less.
Quote:
Originally Posted by Weekender1968
What I have not seen mentioned here is the Social Security withholding and medicare withholding. Social security is currently 6.2%, but is only withheld from income below 106,800. Medicare tax is 1.45% and is applied to all earned income.
Payroll taxes were included in the 31% federal tax burden for the top 1% of earners that I quoted earlier. Essentially, that was 19% for federal income taxes, 2% for payroll taxes, and 9% for corporate income taxes. Federal excise taxes amount to a couple of tenths of 1%. The average income for these people was about $1.6 million.
At the other end of the spectrum, the average income of the bottom 20% was about $16K. Their federal tax burden was about 4% (yes, EVERYONE pays something). That was 8% for payroll taxes, 2% for federal excise taxes, and -6.0% for federal income taxes, through which two of our major income support programs are administered as the result of welfare reform. Corporate income taxes ammount to a few tenths of 1% for these folks.
I saw that headline on Drudge. While I think it's good that people get to keep more of their money, every American who is able to, should be paying something into the federal government, even if all it consists of is their own social security and medicare taxes.
You seek what you have. Those 47% numbers represent the number of 1040's filed on which no federal income tax was due. About one quarter of those are students who come home to do a summer job, then go back to school. They don't owe any tax, but they do file a 1040 in order to get a refund of the amounts of federal income tax that were withheld while they were working. They don't get back the Social Security and Medicare taxes they paid. Or any excise taxes they paid for gasoline or cigarettes, for example.
Have you looked at the EITC and how it effects the calculation? I know a fellow engineer with a middle class income, modest mortgage deduction and 2 kids got more back than he put in.
BWAHAHAHAHA!!! The maximum EITC benefit that a family with 2 kids can claim in 2009 is $5,028. The average benefit is less than $2,100. The maximum earned income and AGI to receive ANY benefit at all would be $45,295.
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