CLICK BELOW TO REDISCOVER HUMANITY

A DECADE+ OF STORYTELLING POWERED BY THE BEST WRITERS ON THE PLANET

Why Six-Figure Salaries Don’t Make You Wealthy

University of Michigan student Jesse Klein made headlines across the Internet on February 19 when her article insisting her parents are “middle class” despite having a combined annual income of $250,000 was covered by several major media outlets. Virtual sparks flew throughout the blogosphere, Twittersphere, and everywhere in between as debaters on both sides of the issue lined up to defend or denounce her allegedly controversial claim.

Americans who earn something close to the 2013 median household income of $52,000 may find it hard to believe, but destructive tax and economic policies imposed by governments at all levels have significantly reduced the value of earning six-figure salaries in the United States and made incomes once considered to be a sign of wealth more similar to those typically thought of as “middle class.”

For example, a family of three in Illinois earning the 2013 average household income of $53,000 according to the U.S. Census Bureau, would pay an effective tax rate of 18.47 percent, calculated with minimal deductions, and have an after-tax income of $44,209. The same household in Illinois earning $100,000 per year would pay an effective tax rate close to 23 percent and have an after-tax income of $78,018.

via Why Six-Figure Salaries Don’t Make You Wealthy | Somewhat Reasonable.

CLICK HERE TO GET TODAY'S BEST WRITING ON THE PLANET DELIVERED TONIGHT

BIZCATALYST 360°
BIZCATALYST 360°https://www.bizcatalyst360.com/about/
WE ARE THE AWARD-WINNING PUBLISHING DIVISION OF 360° NATION —PRESENTING OUR LIFE, CULTURE, AND BIZ MULTIMEDIA DIGEST AS A HUB OF CREATIVE EXPRESSION AND PERSONAL GROWTH. WITH AN EMPHASIS ON ACTION, OUR VAST GLOBAL CONTRIBUTOR COMMUNITY EMPOWERS PEOPLE TO TRANSITION FROM KNOWING WHAT TO DO TO ACTUALLY DOING IT —ALL COMPLEMENTED BY SYNDICATION RELATIONSHIPS WITH A CHOICE GROUP OF EQUALLY INNOVATIVE MEDIA OUTLETS. TODAY AND EVERY DAY, WE SIMPLY DELIVER THE VERY BEST INSIGHTS, INTELLIGENCE, AND INSPIRATION AVAILABLE ANYWHERE —DOING IT OUR WAY BY PLACING OUR WRITERS AND OUR AUDIENCE AT THE FOREFRONT. IT'S MAGICAL. IT'S EVERGREEN. AND QUITE FRANKLY, IT'S JUST GOOD STUFF. PERIOD.

CHECK FOR TICKETS / JOIN OUR WAITING LIST! It's not a virtual event. It's not a conference. It's not a seminar, a meeting, or a symposium. It's not about attracting a big crowd. It's not about making a profit, but rather about making a real difference. LEARN MORE HERE


   

CONVERSATIONS

  1. Justin Haskins is right… but it’s not just in America… it’s the same in Europe. Especially in Italy… but also in Germany it’s no joke. I earned six-figure salaries with different companies in my past … but my salary was sistematically cut down by taxes. Sure.. you can have a comfortable life… but you are far from being wealthy. Regular employment can’t make you wealthy. Entrepreneurship can… if you’re lucky and do things properly. Thank you Dennis!

DAILY INSPIRATION. DELIVERED.