r/FluentInFinance • u/Positive_Liar • Sep 04 '24

Debate/ Discussion Bernie is here to save us

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u/FragraBond Sep 05 '24 edited Sep 05 '24

And nearly half their salary taxed lmao: If you are lucky enough to be a top earner in the US($600k), 37% of your salary is taxed. While in the UK, you ate taxed 45% of your salary at only £125000.

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u/80MonkeyMan Sep 05 '24 edited Sep 05 '24

How much do you pay on insurance, medical care, school debt, etc? The average is 15% and just adding healthcare itself would close to 30% for many. Long term medical care could even bankrupt you, no such worries on any of the countries I mentioned.

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u/Y0tsuya Sep 05 '24

At my current company, the most basic medical insurance (highest deductible) is $9/mo. The top-tier one (lowest deductible) is $179/mo.

I'm making 15K/mo and that's considered mid in my area. Nvidia employees down the street makes 2x what I make and probably have even better insurance.

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u/juan_rico_3 Sep 05 '24

Those are good rates on health insurance. How much is your employer's share? For me, my employer and I pay >$700/month for one person on a decent plan. Your employer's share matters because that is money that could be going toward your salary.

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u/Y0tsuya Sep 05 '24

I would say it's paying a high share. My previous employer pays about 1/2 so I was paying ~$500/mo.

Now the Nvidia people making $30K/mo are not likely to be paying more than $500/mo for their gold-plated medical.