I compared to the US .... taxes

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Q

Qacer

Platinum Member
Apr 5, 2001
2,721
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I'm getting ready to file my tax return via TurboTax. I found some interesting comparisons.

Average U.S. salaries and wages - $114,757 (joint filing)
I'm below average... Damn, I need more benjamins.

Average Dividends - $5,750
Bleh... $10... People have lots of money to invest

Tax-Exempt Interest - $9,340
Bleh... $0... It must be nice.

Medical and Dental deductions - $10,258
$0... damn.. what kind of medical issues do people have?

Mortgage interest - $14,233
below... i guess that's good

Charitable Contributions - $3,918
$95 for me... man, people must be really flushed with cash

Total deductions - $29,342
less than $15k... either I need to hire an accountant or people know more deductions than TurboTax
 
M

Matthiasa

Diamond Member
May 4, 2009
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The median household income is way lower then that I'm mean not even half that... The rest of the numbers not to sure...
 
Engineer

Engineer

Elite Member
Oct 9, 1999
39,230
701
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Savij said:
Those numbers are WAAAAAY off for the average US household.
Click to expand...

Maybe...but when you average in the top...

Top 400 people in the US averaged $450 million last year. That certainly helps raise the average.
 
S

Savij

Diamond Member
Nov 12, 2001
4,233
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71
Engineer said:
Maybe...but when you average in the top...

Top 400 people in the US averaged $450 million last year. That certainly helps raise the average.
Click to expand...

It absolutely raises it, but not to that degree.

The mean (average) household income in the US is still under $100,000. I think it's closer to 70,000. while the median is around 50,000.
 
J

JS80

Lifer
Oct 24, 2005
26,271
7
81
Engineer said:
Maybe...but when you average in the top...

Top 400 people in the US averaged $450 million last year. That certainly helps raise the average.
Click to expand...

No, it doesn't. I thought Engineers can do math.

I bet TurboTax was quoting the average TurboTax filer stats.
 
Engineer

Engineer

Elite Member
Oct 9, 1999
39,230
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JulesMaximus said:
Um, the population of this country is more than 300 million.
Click to expand...

I understand that. However, just over 120 million work and file taxes so I assume that the average is 120 million, and the number that I gave was just for the top 400...I'm sure if you throw in the top million, the numbers are still skewed. There is a reason that the median income gaps so far from the average income.

JS80 said:
No, it doesn't. I thought Engineers can do math.

I bet TurboTax was quoting the average TurboTax filer stats.
Click to expand...

That may be the case. I was just pointing out that the top (more than 400 even) do help bring the real, overall average up...and I'm not complaining about it.....just saying. By the way, the top 400 people raises the average of the 120 million (estimated) tax payers income by an average nearly $1,500 each so that certainly does raise the average...and that' just for the top 400....throw in the top 1 million (but if it's TurboTax only filers, I guess not many of the top 400 use that, lol).

Us cheap bastards won't pay the money to use TurboTax...we use the cheap TaxAct stuff at $11.60 to efile both state and federal, lol! :p
 
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M

Matthiasa

Diamond Member
May 4, 2009
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Maybe but the income they gave as average is within the top 15% of household incomes.
 
mugs

mugs

Lifer
Apr 29, 2003
48,920
46
91
I don't know about TurboTax, but TaxCut gives you the averages for people in the vicinity of your income. I don't think the average income for joint filers in the US is over $100k.
 
S

spidey07

No Lifer
Aug 4, 2000
65,469
5
76
Savij said:
Those numbers are WAAAAAY off for the average US household.
Click to expand...

Bullshit. That's the average middle class return. 100K+ is nothing these days for a joint return. When will you people learn that a factory job pays 25+ bucks an hour plus overtime. That means a dual income factory couple, with overtime will earn well over 100K.

If you're only earning 50-70K with a college degree you should go work in a factory because you are woefully underpaid.
 
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Engineer

Engineer

Elite Member
Oct 9, 1999
39,230
701
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Slew Foot said:
In 2007, the median annual household income rose 1.3% to $50,233.00 according to the Census Bureau.[4]

Cant find average data, but im sure it doesnt raise it by more than 30%
Click to expand...

The average from the Census in 2004 was just over $60,000 (found on WikiPedia). Don't think it raised from $60,000 to $100,000 since then though.
 
S

spidey07

No Lifer
Aug 4, 2000
65,469
5
76
Engineer said:
The average from the Census in 2004 was just over $60,000 (found on WikiPedia). Don't think it raised from $60,000 to $100,000 since then though.
Click to expand...

If I've told you once I've told you a thousand times. You are severely underpaid as are most on this board. Engineer your skills demand 120K plus bonus, plus benefits, plus retirement. If you accept less then it's your own damn fault.

You know what the guys on the line make.
 
Engineer

Engineer

Elite Member
Oct 9, 1999
39,230
701
126
spidey07 said:
If I've told you once I've told you a thousand times. You are severely underpaid as are most on this board. Engineer your skills demand 120K plus bonus, plus benefits, plus retirement. If you accept less then it's your own damn fault.

You know what the guys on the line make.
Click to expand...

I'm not complaining on what I make (actually, I'm making $440, per week on unemployment right now (not counting severance) lol), I was pointing out the average was $60,000 in 2004. I've had it good for many years leading up to mid 2008. We will see how the new job shakes out once I get the formal offer in writing, lol.
 
postmortemIA

postmortemIA

Diamond Member
Jul 11, 2006
7,721
40
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spidey07 said:
If I've told you once I've told you a thousand times. You are severely underpaid as are most on this board. Engineer your skills demand 120K plus bonus, plus benefits, plus retirement. If you accept less then it's your own damn fault.

You know what the guys on the line make.
Click to expand...

You are overpaid cuz you are an idiot who doesn't get it. Pay depends on metro and state. Don't apply it to your company and your town. Our state governor makes $120,000, and top graduate engineers start at around $60K, ones that go to silicon valley do get perhaps 25% more, but nobody starts over 100K. Not even PhD.

Most skilled labor that I know is paid in neighborhood of $15/hr.

If you live in area where decent home cost $600,000, then having 25% bigger salary than somebody who bought same type house but brand new for $200,000 does not mean you are getting most for your money.
 
M

Matthiasa

Diamond Member
May 4, 2009
5,755
23
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spidey07 said:
Bullshit. That's the average middle class return. 100K+ is nothing these days for a joint return. When will you people learn that a factory job pays 25+ bucks an hour plus overtime. That means a dual income factory couple, with overtime will earn well over 100K.

If you're only earning 50-70K with a college degree you should go work in a factory because you are woefully underpaid.
Click to expand...

You are a tad (massively) out of touch with reality. :(
 
S

Savij

Diamond Member
Nov 12, 2001
4,233
0
71
spidey07 said:
Bullshit. That's the average middle class return. 100K+ is nothing these days for a joint return. When will you people learn that a factory job pays 25+ bucks an hour plus overtime. That means a dual income factory couple, with overtime will earn well over 100K.

If you're only earning 50-70K with a college degree you should go work in a factory because you are woefully underpaid.
Click to expand...

I pull my numbers from census data. You pull your numbers out of your ass. We're taking about average for the entire US, not whatever local area you are basing your estimates on. Congrats on living in such an awesome place that makes you think that it's normal for families to earn six figures. You totally got a high score in the game of life!
 
S

spidey07

No Lifer
Aug 4, 2000
65,469
5
76
Matthiasa said:
You are a tad (massively) out of touch with reality. :(
Click to expand...

BULLSHIT! I keep telling people you are severely underpaid. Go to salary.com to see what you are worth.

But I guess it bothers people that the guys on the line are making much more than they are.
 
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