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Kid learns the meaning of income taxes in his first paycheck

Its a funny video but to be fair he would get all of his federal income tax withheld back on his tax return.
Yea, but you don't get state back. He is lucky he didn't get state taxes like I did on my first paycheck. I still get people who tell me they owe money during tax season. Never had that problem so far.
 

MastAndo

Member
On a related note, it's pretty outrageous how unprepared the education system leaves our youngins when it comes to stuff like this. I mean, I know most kids aren't going to learn much in high school either way, but a personal finance/financial literacy course should be mandatory in any sort of curriculum, but it isn't - at least it wasn't when I was being fed one BS course after another in high school or as mandatory core courses in college before declaring my major. It was mostly just loads of inconsequential nonsense.
 
Like... how was he not educated on this? Seriously basic income knowledge needs to be a REQUIRED Highschool freshman class. You should be tested on understanding taxes, retirement plans, investing, major life purchases (home/car) and basic tax return submissions.
Did you miss high school? Because we learned none of that :messenger_tears_of_joy:

But yea I agree. It should be taught
 
I grew up in an Air Force family, my folks did a great job teaching me all of that wayyyy before high school. But yeah, so many dumbasses don’t take the time to learn, then get out on their own and drown
Sounds like you had good parents. I think the military is a good place for people who are lost in life and opportunities.
 

Super Mario

Banned
Like... how was he not educated on this? Seriously basic income knowledge needs to be a REQUIRED Highschool freshman class. You should be tested on understanding taxes, retirement plans, investing, major life purchases (home/car) and basic tax return submissions.

The only education most people get on this is that other people somewhere need to pay more. You can also be noble and say you would gladly pay more to help others, but not really mean it.

The real education is self-taught and then most people tend to become more conservative
 

Pagusas

Elden Member
Sounds like you had good parents. I think the military is a good place for people who are lost in life and opportunities.

The military and NASA have been great for my family. I‘m actually the first of my family NOT to go that route, instead went to college and have a successful degree. But yes, the military is a great place for people who cant get a footing in life and need direction/orders/duty to opperate at their best.
 

Davey Cakes

Member
When I had my first job at 16 I had taxes, Medicare, social security, and retirement all taken out of my check. I wondered how much of any of that I’d get back. Well, other than the retirement which I cashed out and which was also taxed (of course).
 
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Calcium

Banned
"But I already got my social security number!"

Haha, awesome.

My first paycheck was under the table, so I can't relate.
 

oagboghi2

Member
The dad laughing is a dick. Should prepare your kids better.
His dad is honest, and this is called parenting. Notice the other boys knew their shit, because they had gone through it before.

This is how you teach your kids. Real fucking life. Life hits you and your parents should be there to guide you. Not shield you from it or lie to you.

The number of young adults I knew who didn't understand Jack shit about taxes, even after college is staggering.
 

Hulk_Smash

Banned
It is not the job of the education system to teach your kid about personal finances. That job falls on the parents. What? You want the cafeteria lady to teach them how to cook, too? And before you say “home ec!” I took home ec. It was a fucking joke class that I aced and learned nothing that my parents didn’t already teach me.

As far as this video goes, I’ll give the dad some slack since he could’ve tried to tell his son about it and his son needed to see it to believe it. I felt the same way with my first check.

Also, the paycheck withholding system is fraudulent and needs to be overturned by an act of Congress.
 
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Grinchy

Banned
lol yep, taxes are a bitch

I got my first job as a bagger in a groery store when I was 14. Literally the moment I could legally work, I got the one job that would hire a 14 year old in my area because I was tired of waiting for birthdays and christmas for things that I could just buy myself. When making $5.05 per hour, it sucked watching any of it go away to taxes even if I did get a lot back at the end of the year lol
 

DOW

Member
I had a teenage employee working his job for my business. His first paycheck came in and he sent me an angry text demanding all his money for the hours he worked or he’d “report me”.

I politely informed him of taxes and he never responded 😂
 

HoodWinked

Member
ya i think he's just upset that it was so little not that it was specifically the taxes. he probably thinks it would be way higher if he wasn't "finessed" but if he got the full 280 he'd probably react the same way. 280 vs ~250 is hardly a difference.
 

Goro Majima

Kitty Genovese Member
He’s not even paying for health insurance or retirement yet.

I got a second dose of this when I got that first “real job” after college because of those two things.
 

Atrus

Gold Member
The deal only gets worse from this point on for that kid, as it does for us all.

If you didn’t feel like robbing banks as a kid, you’ll start to fantasize about it at least once as an adult.

I’m just waiting to be called up by some genius professor for the heist of the century.
 

nush

Gold Member
My first jobs were cash in hand, so I had no worries about taxes. Shit pay though but I strung a bunch of small jobs together to earn some reasonable cash for an underage worker.
 
What does social security pay for in the US? In the UK it technically pays for health care and unemployment benefit if you end up out of work.
 
Like... how was he not educated on this? Seriously basic income knowledge needs to be a REQUIRED Highschool freshman class. You should be tested on understanding taxes, retirement plans, investing, major life purchases (home/car) and basic tax return submissions.
If you did that you’d have a lot my Republicans. You know, the people who want less federal government and understand that taxation is theft.. cant have people realize how much they’re fucking us so gotta keep them out of the loop.
 

Kenpachii

Member
Welcome in my world where i pay 50%+ taxes on everything i get so a bunch of politicians can jap at each other on money i worked for.
 
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JimiNutz

Banned
I feel proud when I see my salary decimated by government.

How else are we gonna feed, clothe and house those weaker in society? Take from me and giveth to the poor.
 

Herr Edgy

Member
I feel proud when I see my salary decimated by government.

How else are we gonna feed, clothe and house those weaker in society? Take from me and giveth to the poor.
It's not even about sustaining the poor. It's to sustain the very infrastructure you and your company are using every day to live a proper life and 'earn that money' in the first place.

'Taxation is theft' my ass.

Aside from stupid spending of course, like, what, a trillion $ for military?
 
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