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FINAL Paycheck of the year, today

Discussion in 'Anything goes' started by heyabbott, Dec 22, 2006.

  1. heyabbott

    heyabbott Well-Known Member

    Today was our last paycheck of the year. When comparing net pay (actual take-home cash) to gross pay, I leave 34% of my pay at the office, to the government and health insurance.

    DAMN. I could actually live on my paycheck, if I got to keep it.

  2. TheSportsPredictor

    TheSportsPredictor Well-Known Member

    Well, you don't have to pay for the health insurance. Just opt out!
  3. EStreetJoe

    EStreetJoe Well-Known Member

    Even if he opted out of the health insurance, in all likelyhood, taxes (federal, state, social security, etc.) would still be taking about 20-25% of his paycheck.
    I arrive at that figure by the calculations on my paycheck. My company pays for our health insurance (so I pay nothing) and I'm only brining home about 55% of the gross amount on my paycheck. Of the 45% I'm leaving at the office, 25% goes into the 401k, leaving 20% for taxes.
  4. bydesign77

    bydesign77 Active Member

    Or we could just switch to the Fair Tax and he would only have to pay for his insurance
  5. Editude

    Editude Active Member

    Pay FICA now, (hopefully) avoid eating dog food later.
  6. HandsomeHarley

    HandsomeHarley Well-Known Member

    Look at the bright side: If you're hourly, January has three pay periods. ;)
  7. EStreetJoe

    EStreetJoe Well-Known Member

    All depends on how much you throw into the 401k.
  8. KYSportsWriter

    KYSportsWriter Well-Known Member

    Our last paycheck comes next Friday. I can't wait cause I need the money.
  9. HeinekenMan

    HeinekenMan Active Member

    What's this paycheck thing of which you speak?
  10. Chi City 81

    Chi City 81 Guest

    December was our three-paycheck month.
  11. spup1122

    spup1122 Guest

    Nope, it was November, Doc.
  12. Chi City 81

    Chi City 81 Guest

    December 1, 15, 29.
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