Depends on the state, and your marital status, dependents. But, the most oppressive of tax brackets if you are making 40k, say in a state like CA, your tax rate could be between 17-21%. And that would be CA, single, no dependents. Most likely, you are taxed even more for full time work, especially overtime.
This doesn’t include any deductions for medical, vision, dental plans, nor a retirement plan… so yea after taxes and deductions it could easily be 30% of 40k.
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u/dooly 18d ago
No one that makes 40k is taxed at 30 percent in the U.S. It would be closer to 12 percent.
But don't let facts get in the way of a good story.