100 hours of work if the money is tax free (it’s not). Taxes take about 40% of your gross income so on $23/hr hr can’t afford the listed bills.
100 hours of work if the money is tax free (it’s not). Taxes take about 40% of your gross income so on $23/hr hr can’t afford the listed bills.
When the disciples heard this, they were greatly astonished and asked, “Who then can be saved?”
Jesus looked at them and said, “With man this is impossible, but with God all things are possible.”
Matthew 19:25-26
Why is this news?
Look through the thread and you will see people showing their work and coming up with similar numbers. 40% was a rough estimate off the top of my head. Figures from a recent paystub of mine: gross income of $2700.80, net income of $1774.41. My deductions are more than just taxes, but regardless that is an effective reduction in pay of %35.31. This is a real life figure that the others may be similarly subjected to, as opposed to the numbers you get out of a calculator.