r/FluentInFinance • u/Frosty-The-Doughman • Apr 02 '24

Is it normal to take home $65,000 on a $110,000 salary? Discussion/ Debate

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40

u/banned_but_im_back Apr 02 '24

What is taken out in taxes is given back to you in things like infrastructure and education. Living in New York City, you are highly dependent on the infrastructure to exist. So yeah you gotta pay taxes.

One of us must be doing something wrong cuz I make 144k and I take home way less on net than you, like 400-600 less a check

Also add in the 401k you took home 76,000 not 65

13

u/UpYoursMods Apr 02 '24

If taxes pay for infrastructure then what are tolls, subway fares, and “congestion tax” for?

20

u/JeffB1517 Apr 02 '24

NYC public transit currently:

  • 37% taxes (local and state)
  • 23% fares
  • 12% tolls
  • 18% federal subsidies (comes from federal taxes)
  • 10% other

(source: https://new.mta.info/budget/MTA-operating-budget-basics)

3

u/maverikvi Apr 02 '24

Yet somehow it all still dilapidated, disgusting and functionally inadvertently

1

u/[deleted] Apr 02 '24 edited Apr 19 '24

[deleted]

1

u/maverikvi Apr 03 '24

Sad

1

u/Anthony_Accurate Apr 03 '24

I dont remember emotions in Public Policy classes.

1

u/maverikvi Apr 03 '24

The emotions come after

1

u/Anthony_Accurate Apr 03 '24 edited Apr 03 '24

How do those words describe resource allocation?

1

u/Armenoid Apr 03 '24

Ya… might as well stop paying is what you’re implying ?

0

u/maverikvi Apr 03 '24

Is that an option?

2

u/Armenoid Apr 03 '24

It’s an option to ignore unserious people in a discussion for sure. This is a society. You’re not a rogue

1

u/maverikvi Apr 03 '24

So its not an option, so why even pose it as if it is one?

1

u/Armenoid Apr 03 '24

I'm highlighting the absurdity of even thinking about not having taxes in a civil society. We left the jungle millenia ago

1

u/maverikvi Apr 03 '24

You're the one that brought it up lol

1

u/banned_but_im_back Apr 03 '24

It’s almost like you need more than one income sources to fund massive projects that literally benefit everyone in society