Latest news with #paychecks
Bloomberg
01-07-2025
- Business
- Bloomberg
It's Payday for College Athletes. Cue the Skepticism
By In the world of sports, it's a big day for paychecks (and not just because it's Bobby Bonilla Day). Today the NCAA settlement that allows colleges to directly pay their athletes goes into effect. Bloomberg sports business reporter Ira Boudway has some thoughts on how the deal might work out. Plus: Who gets hurt by cuts to food stamps, and what the world can learn from Singapore's wastewater testing. If this email was forwarded to you, click here to sign up.
Yahoo
17-05-2025
- Business
- Yahoo
How Paychecks of the Lower Middle Class Would Look in Each State If Trump Ended Federal Income Tax
Throughout his 2024 presidential campaign, Donald Trump mused that he might abolish the federal income tax in the United States and replace that federal cash flow with income generated by tariffs. While there could be a number of benefits for many Americans if federal income taxes ended, it remains to be seen whether Trump's tariffs could be successful enough to facilitate such a radical change to America's tax structure. Check Out: Also See: Still, if Trump were able to pull this off, one of the many changes Americans would experience would be higher paychecks. It's an idea that GOBankingRates has explored regarding the paychecks of the upper-middle class, as well as the median paycheck in each and every state. Here, GOBankingRates analyzes how paychecks for the lower-middle class would be impacted in each state if President Trump were to abolish the federal income tax. Median income: $55,135 Average bi-weekly paycheck with federal income tax: $1,681 Tax burden: 20.7% Bi-weekly paycheck without federal income tax: $2,022 Tax burden: 4.7% Learn More: Find Out: Median income: $79,409 Average bi-weekly paycheck with federal income tax: $2,462 Tax burden: 19.4% Bi-weekly paycheck without federal income tax: $3,054 Tax burden: 0.0% Also See: Median income: $68,330 Average bi-weekly paycheck with federal income tax: $2,111 Tax burden: 19.7% Bi-weekly paycheck without federal income tax: $2,576 Tax burden: 2.0% Median income: $52,242 Average bi-weekly paycheck with federal income tax: $1,611 Tax burden: 19.8% Bi-weekly paycheck without federal income tax: $1,930 Tax burden: 4.0% Median income: $85,630 Average bi-weekly paycheck with federal income tax: $2,472 Tax burden: 24.9% Bi-weekly paycheck without federal income tax: $3,135 Tax burden: 4.8% Median income: $82,195 Average bi-weekly paycheck with federal income tax: $2,424 Tax burden: 23.3% Bi-weekly paycheck without federal income tax: $3,048 Tax burden: 3.6% Median income: $83,342 Average bi-weekly paycheck with federal income tax: $2,454 Tax burden: 23.5% Bi-weekly paycheck without federal income tax: $3,091 Tax burden: 3.6% Read More: Median income: $73,648 Average bi-weekly paycheck with federal income tax: $2,167 Tax burden: 23.5% Bi-weekly paycheck without federal income tax: $2,693 Tax burden: 4.9% Median income: $63,743 Average bi-weekly paycheck with federal income tax: $2,039 Tax burden: 16.9% Bi-weekly paycheck without federal income tax: $2,452 Tax burden: 0.0% Median income: $66,368 Average bi-weekly paycheck with federal income tax: $1,995 Tax burden: 21.9% Bi-weekly paycheck without federal income tax: $2,438 Tax burden: 4.5% Median income: $87,392 Average bi-weekly paycheck with federal income tax: $2,437 Tax burden: 27.5% Bi-weekly paycheck without federal income tax: $3,120 Tax burden: 7.2% Median income: $66,343 Average bi-weekly paycheck with federal income tax: $2,003 Tax burden: 21.5% Bi-weekly paycheck without federal income tax: $2,446 Tax burden: 4.1% Discover More: Median income: $72,624 Average bi-weekly paycheck with federal income tax: $2,141 Tax burden: 23.4% Bi-weekly paycheck without federal income tax: $2,655 Tax burden: 5.0% Median income: $62,267 Average bi-weekly paycheck with federal income tax: $1,926 Tax burden: 19.6% Bi-weekly paycheck without federal income tax: $2,322 Tax burden: 3.1% Median income: $65,019 Average bi-weekly paycheck with federal income tax: $1,942 Tax burden: 22.3% Bi-weekly paycheck without federal income tax: $2,370 Tax burden: 5.2% Median income: $64,568 Average bi-weekly paycheck with federal income tax: $1,945 Tax burden: 21.7% Bi-weekly paycheck without federal income tax: $2,367 Tax burden: 4.7% Median income: $55,481 Average bi-weekly paycheck with federal income tax: $1,710 Tax burden: 19.8% Bi-weekly paycheck without federal income tax: $2,053 Tax burden: 3.8% Also Read: Median income: $53,353 Average bi-weekly paycheck with federal income tax: $1,660 Tax burden: 19.1% Bi-weekly paycheck without federal income tax: $1,987 Tax burden: 3.2% Median income: $63,798 Average bi-weekly paycheck with federal income tax: $1,922 Tax burden: 21.7% Bi-weekly paycheck without federal income tax: $2,336 Tax burden: 4.8% Median income: $90,357 Average bi-weekly paycheck with federal income tax: $2,396 Tax burden: 25.2% Bi-weekly paycheck without federal income tax: $3,317 Tax burden: 4.6% Median income: $90,080 Average bi-weekly paycheck with federal income tax: $2,373 Tax burden: 25.6% Bi-weekly paycheck without federal income tax: $3,291 Tax burden: 5.0% Median income: $63,243 Average bi-weekly paycheck with federal income tax: $1,922 Tax burden: 21% Bi-weekly paycheck without federal income tax: $2,329 Tax burden: 4.3% Explore More: Median income: $77,827 Average bi-weekly paycheck with federal income tax: $2,272 Tax burden: 24.1% Bi-weekly paycheck without federal income tax: $2,846 Tax burden: 4.9% Median income: $48,813 Average bi-weekly paycheck with federal income tax: $1,519 Tax burden: 19.1% Bi-weekly paycheck without federal income tax: $1,811 Tax burden: 3.5% Median income: $61,262 Average bi-weekly paycheck with federal income tax: $1,890 Tax burden: 19.8% Bi-weekly paycheck without federal income tax: $2,277 Tax burden: 3.4% Median income: $62,152 Average bi-weekly paycheck with federal income tax: $1,897 Tax burden: 20.6% Bi-weekly paycheck without federal income tax: $2,292 Tax burden: 4.1% Median income: $66,653 Average bi-weekly paycheck with federal income tax: $2,011 Tax burden: 21.6% Bi-weekly paycheck without federal income tax: $2,457 Tax burden: 4.2% Find More: Median income: $67,165 Average bi-weekly paycheck with federal income tax: $2,131 Tax burden: 17.5% Bi-weekly paycheck without federal income tax: $2,583 Tax burden: 0.0% Median income: $85,002 Average bi-weekly paycheck with federal income tax: $2,614 Tax burden: 20.1% Bi-weekly paycheck without federal income tax: $3,269 Tax burden: 0.0% Median income: $89,822 Average bi-weekly paycheck with federal income tax: $2,400 Tax burden: 24.6% Bi-weekly paycheck without federal income tax: $3,316 Tax burden: 4.0% Median income: $55,222 Average bi-weekly paycheck with federal income tax: $1,717 Tax burden: 19.2% Bi-weekly paycheck without federal income tax: $2,058 Tax burden: 3.1% Median income: $75,180 Average bi-weekly paycheck with federal income tax: $2,212 Tax burden: 23.5% Bi-weekly paycheck without federal income tax: $2,756 Tax burden: 4.7% Good Question: Median income: $62,136 Average bi-weekly paycheck with federal income tax: $1,910 Tax burden: 20.1% Bi-weekly paycheck without federal income tax: $2,304 Tax burden: 3.6% Median income: $67,510 Average bi-weekly paycheck with federal income tax: $2,134 Tax burden: 17.8% Bi-weekly paycheck without federal income tax: $2,590 Tax burden: 0.2% Median income: $61,937 Average bi-weekly paycheck with federal income tax: $1,952 Tax burden: 18.1% Bi-weekly paycheck without federal income tax: $2,344 Tax burden:1.6% Median income: $56,536 Average bi-weekly paycheck with federal income tax: $1,739 Tax burden: 20.0% Bi-weekly paycheck without federal income tax: $2,090 Tax burden: 3.9% Median income: $71,489 Average bi-weekly paycheck with federal income tax: $2,028 Tax burden: 26.2% Bi-weekly paycheck without federal income tax: $2,530 Tax burden: 8.0% Median income: $67,627 Average bi-weekly paycheck with federal income tax: $2,064 Tax burden: 20.7% Bi-weekly paycheck without federal income tax: $2,521 Tax burden: 3.1% Trending Now: Median income: $76,775 Average bi-weekly paycheck with federal income tax: $2,296 Tax burden: 22.3% Bi-weekly paycheck without federal income tax: $2,857 Tax burden: 3.2% Median income: $59,393 Average bi-weekly paycheck with federal income tax: $1,828 Tax burden: 20.0% Bi-weekly paycheck without federal income tax: $2,201 Tax burden: 3.7% Median income: $64,374 Average bi-weekly paycheck with federal income tax: $2,056 Tax burden: 17.0% Bi-weekly paycheck without federal income tax: $2,476 Tax burden: 0.0% Median income: $59,641 Average bi-weekly paycheck with federal income tax: $1,919 Tax burden: 16.3% Bi-weekly paycheck without federal income tax: $2,294 Tax burden: 0.0% Also Discover: Median income: $67,815 Average bi-weekly paycheck with federal income tax: $2,149 Tax burden: 17.6% Bi-weekly paycheck without federal income tax: $2,608 Tax burden: 0.0% Median income: $81,555 Average bi-weekly paycheck with federal income tax: $2,376 Tax burden: 24.3% Bi-weekly paycheck without federal income tax: $2,992 Tax burden: 4.6% Median income: $69,354 Average bi-weekly paycheck with federal income tax: $2,089 Tax burden: 21.7% Bi-weekly paycheck without federal income tax: $2,566 Tax burden: 3.8% Median income: $80,865 Average bi-weekly paycheck with federal income tax: $2,351 Tax burden: 24.4% Bi-weekly paycheck without federal income tax: $2,959 Tax burden: 4.9% Find More: Median income: $84,401 Average bi-weekly paycheck with federal income tax: $2,598 Tax burden: 20.0% Bi-weekly paycheck without federal income tax: $3,246 Tax burden: 0.0% Median income: $51,481 Average bi-weekly paycheck with federal income tax: $1,599 Tax burden: 19.3% Bi-weekly paycheck without federal income tax: $1,912 Tax burden: 3.5% Median income: $67,262 Average bi-weekly paycheck with federal income tax: $2,039 Tax burden: 21.2% Bi-weekly paycheck without federal income tax: $2,492 Tax burden: 3.7% Median income: $66,502 Average bi-weekly paycheck with federal income tax: $2,113 Tax burden: 17.4% Bi-weekly paycheck without federal income tax: $2,558 Tax burden: 0.0% Methodology: To generate the income tax for every state, GOBankingRates first found lower middle class median income based on 2023 American Community Survey median household figures. Income tax estimates were created by using an in-house calculator for a single taxpayer and using the standard deduction (with 2024 tax brackets). GOBankingRates found each state's (1) total annual income taxes paid; (2) total income tax burden; (3) amount taken out of bi-weekly paycheck; and (4) bi-weekly paycheck amount. GOBankingRates then took these figures and removed the federal income taxes (including FICA) to see what lower-middle-class paychecks would look like by state without federal income taxes. All data was collected on and is up to date as of April 15, 2025. More From GOBankingRates What $1 Million in Retirement Savings Looks Like in Monthly Spending The 5 Car Brands Named the Least Reliable of 2025 5 Little-Known Ways to Make Summer Travel More Affordable 7 Luxury SUVs That Will Become Affordable in 2025 This article originally appeared on How Paychecks of the Lower Middle Class Would Look in Each State If Trump Ended Federal Income Tax
Yahoo
09-05-2025
- Business
- Yahoo
How Paychecks of the Lower Middle Class Would Look in Each State If Trump Ended Federal Income Tax
Throughout his 2024 presidential campaign, Donald Trump mused that he might abolish the federal income tax in the United States and replace that federal cash flow with income generated by tariffs. While there could be a number of benefits for many Americans if federal income taxes ended, it remains to be seen whether Trump's tariffs could be successful enough to facilitate such a radical change to America's tax structure. Check Out: Also See: Still, if Trump were able to pull this off, one of the many changes Americans would experience would be higher paychecks. It's an idea that GOBankingRates has explored regarding the paychecks of the upper-middle class, as well as the median paycheck in each and every state. Here, GOBankingRates analyzes how paychecks for the lower-middle class would be impacted in each state if President Trump were to abolish the federal income tax. Median income: $55,135 Average bi-weekly paycheck with federal income tax: $1,681 Tax burden: 20.7% Bi-weekly paycheck without federal income tax: $2,022 Tax burden: 4.7% Learn More: Find Out: Median income: $79,409 Average bi-weekly paycheck with federal income tax: $2,462 Tax burden: 19.4% Bi-weekly paycheck without federal income tax: $3,054 Tax burden: 0.0% Also See: Median income: $68,330 Average bi-weekly paycheck with federal income tax: $2,111 Tax burden: 19.7% Bi-weekly paycheck without federal income tax: $2,576 Tax burden: 2.0% Median income: $52,242 Average bi-weekly paycheck with federal income tax: $1,611 Tax burden: 19.8% Bi-weekly paycheck without federal income tax: $1,930 Tax burden: 4.0% Median income: $85,630 Average bi-weekly paycheck with federal income tax: $2,472 Tax burden: 24.9% Bi-weekly paycheck without federal income tax: $3,135 Tax burden: 4.8% Median income: $82,195 Average bi-weekly paycheck with federal income tax: $2,424 Tax burden: 23.3% Bi-weekly paycheck without federal income tax: $3,048 Tax burden: 3.6% Median income: $83,342 Average bi-weekly paycheck with federal income tax: $2,454 Tax burden: 23.5% Bi-weekly paycheck without federal income tax: $3,091 Tax burden: 3.6% Read More: Median income: $73,648 Average bi-weekly paycheck with federal income tax: $2,167 Tax burden: 23.5% Bi-weekly paycheck without federal income tax: $2,693 Tax burden: 4.9% Median income: $63,743 Average bi-weekly paycheck with federal income tax: $2,039 Tax burden: 16.9% Bi-weekly paycheck without federal income tax: $2,452 Tax burden: 0.0% Median income: $66,368 Average bi-weekly paycheck with federal income tax: $1,995 Tax burden: 21.9% Bi-weekly paycheck without federal income tax: $2,438 Tax burden: 4.5% Median income: $87,392 Average bi-weekly paycheck with federal income tax: $2,437 Tax burden: 27.5% Bi-weekly paycheck without federal income tax: $3,120 Tax burden: 7.2% Median income: $66,343 Average bi-weekly paycheck with federal income tax: $2,003 Tax burden: 21.5% Bi-weekly paycheck without federal income tax: $2,446 Tax burden: 4.1% Discover More: Median income: $72,624 Average bi-weekly paycheck with federal income tax: $2,141 Tax burden: 23.4% Bi-weekly paycheck without federal income tax: $2,655 Tax burden: 5.0% Median income: $62,267 Average bi-weekly paycheck with federal income tax: $1,926 Tax burden: 19.6% Bi-weekly paycheck without federal income tax: $2,322 Tax burden: 3.1% Median income: $65,019 Average bi-weekly paycheck with federal income tax: $1,942 Tax burden: 22.3% Bi-weekly paycheck without federal income tax: $2,370 Tax burden: 5.2% Median income: $64,568 Average bi-weekly paycheck with federal income tax: $1,945 Tax burden: 21.7% Bi-weekly paycheck without federal income tax: $2,367 Tax burden: 4.7% Median income: $55,481 Average bi-weekly paycheck with federal income tax: $1,710 Tax burden: 19.8% Bi-weekly paycheck without federal income tax: $2,053 Tax burden: 3.8% Also Read: Median income: $53,353 Average bi-weekly paycheck with federal income tax: $1,660 Tax burden: 19.1% Bi-weekly paycheck without federal income tax: $1,987 Tax burden: 3.2% Median income: $63,798 Average bi-weekly paycheck with federal income tax: $1,922 Tax burden: 21.7% Bi-weekly paycheck without federal income tax: $2,336 Tax burden: 4.8% Median income: $90,357 Average bi-weekly paycheck with federal income tax: $2,396 Tax burden: 25.2% Bi-weekly paycheck without federal income tax: $3,317 Tax burden: 4.6% Median income: $90,080 Average bi-weekly paycheck with federal income tax: $2,373 Tax burden: 25.6% Bi-weekly paycheck without federal income tax: $3,291 Tax burden: 5.0% Median income: $63,243 Average bi-weekly paycheck with federal income tax: $1,922 Tax burden: 21% Bi-weekly paycheck without federal income tax: $2,329 Tax burden: 4.3% Explore More: Median income: $77,827 Average bi-weekly paycheck with federal income tax: $2,272 Tax burden: 24.1% Bi-weekly paycheck without federal income tax: $2,846 Tax burden: 4.9% Median income: $48,813 Average bi-weekly paycheck with federal income tax: $1,519 Tax burden: 19.1% Bi-weekly paycheck without federal income tax: $1,811 Tax burden: 3.5% Median income: $61,262 Average bi-weekly paycheck with federal income tax: $1,890 Tax burden: 19.8% Bi-weekly paycheck without federal income tax: $2,277 Tax burden: 3.4% Median income: $62,152 Average bi-weekly paycheck with federal income tax: $1,897 Tax burden: 20.6% Bi-weekly paycheck without federal income tax: $2,292 Tax burden: 4.1% Median income: $66,653 Average bi-weekly paycheck with federal income tax: $2,011 Tax burden: 21.6% Bi-weekly paycheck without federal income tax: $2,457 Tax burden: 4.2% Find More: Median income: $67,165 Average bi-weekly paycheck with federal income tax: $2,131 Tax burden: 17.5% Bi-weekly paycheck without federal income tax: $2,583 Tax burden: 0.0% Median income: $85,002 Average bi-weekly paycheck with federal income tax: $2,614 Tax burden: 20.1% Bi-weekly paycheck without federal income tax: $3,269 Tax burden: 0.0% Median income: $89,822 Average bi-weekly paycheck with federal income tax: $2,400 Tax burden: 24.6% Bi-weekly paycheck without federal income tax: $3,316 Tax burden: 4.0% Median income: $55,222 Average bi-weekly paycheck with federal income tax: $1,717 Tax burden: 19.2% Bi-weekly paycheck without federal income tax: $2,058 Tax burden: 3.1% Median income: $75,180 Average bi-weekly paycheck with federal income tax: $2,212 Tax burden: 23.5% Bi-weekly paycheck without federal income tax: $2,756 Tax burden: 4.7% Good Question: Median income: $62,136 Average bi-weekly paycheck with federal income tax: $1,910 Tax burden: 20.1% Bi-weekly paycheck without federal income tax: $2,304 Tax burden: 3.6% Median income: $67,510 Average bi-weekly paycheck with federal income tax: $2,134 Tax burden: 17.8% Bi-weekly paycheck without federal income tax: $2,590 Tax burden: 0.2% Median income: $61,937 Average bi-weekly paycheck with federal income tax: $1,952 Tax burden: 18.1% Bi-weekly paycheck without federal income tax: $2,344 Tax burden:1.6% Median income: $56,536 Average bi-weekly paycheck with federal income tax: $1,739 Tax burden: 20.0% Bi-weekly paycheck without federal income tax: $2,090 Tax burden: 3.9% Median income: $71,489 Average bi-weekly paycheck with federal income tax: $2,028 Tax burden: 26.2% Bi-weekly paycheck without federal income tax: $2,530 Tax burden: 8.0% Median income: $67,627 Average bi-weekly paycheck with federal income tax: $2,064 Tax burden: 20.7% Bi-weekly paycheck without federal income tax: $2,521 Tax burden: 3.1% Trending Now: Median income: $76,775 Average bi-weekly paycheck with federal income tax: $2,296 Tax burden: 22.3% Bi-weekly paycheck without federal income tax: $2,857 Tax burden: 3.2% Median income: $59,393 Average bi-weekly paycheck with federal income tax: $1,828 Tax burden: 20.0% Bi-weekly paycheck without federal income tax: $2,201 Tax burden: 3.7% Median income: $64,374 Average bi-weekly paycheck with federal income tax: $2,056 Tax burden: 17.0% Bi-weekly paycheck without federal income tax: $2,476 Tax burden: 0.0% Median income: $59,641 Average bi-weekly paycheck with federal income tax: $1,919 Tax burden: 16.3% Bi-weekly paycheck without federal income tax: $2,294 Tax burden: 0.0% Also Discover: Median income: $67,815 Average bi-weekly paycheck with federal income tax: $2,149 Tax burden: 17.6% Bi-weekly paycheck without federal income tax: $2,608 Tax burden: 0.0% Median income: $81,555 Average bi-weekly paycheck with federal income tax: $2,376 Tax burden: 24.3% Bi-weekly paycheck without federal income tax: $2,992 Tax burden: 4.6% Median income: $69,354 Average bi-weekly paycheck with federal income tax: $2,089 Tax burden: 21.7% Bi-weekly paycheck without federal income tax: $2,566 Tax burden: 3.8% Median income: $80,865 Average bi-weekly paycheck with federal income tax: $2,351 Tax burden: 24.4% Bi-weekly paycheck without federal income tax: $2,959 Tax burden: 4.9% Find More: Median income: $84,401 Average bi-weekly paycheck with federal income tax: $2,598 Tax burden: 20.0% Bi-weekly paycheck without federal income tax: $3,246 Tax burden: 0.0% Median income: $51,481 Average bi-weekly paycheck with federal income tax: $1,599 Tax burden: 19.3% Bi-weekly paycheck without federal income tax: $1,912 Tax burden: 3.5% Median income: $67,262 Average bi-weekly paycheck with federal income tax: $2,039 Tax burden: 21.2% Bi-weekly paycheck without federal income tax: $2,492 Tax burden: 3.7% Median income: $66,502 Average bi-weekly paycheck with federal income tax: $2,113 Tax burden: 17.4% Bi-weekly paycheck without federal income tax: $2,558 Tax burden: 0.0% Methodology: To generate the income tax for every state, GOBankingRates first found lower middle class median income based on 2023 American Community Survey median household figures. Income tax estimates were created by using an in-house calculator for a single taxpayer and using the standard deduction (with 2024 tax brackets). GOBankingRates found each state's (1) total annual income taxes paid; (2) total income tax burden; (3) amount taken out of bi-weekly paycheck; and (4) bi-weekly paycheck amount. GOBankingRates then took these figures and removed the federal income taxes (including FICA) to see what lower-middle-class paychecks would look like by state without federal income taxes. All data was collected on and is up to date as of April 15, 2025. More From GOBankingRates 5 Types of Vehicles Retirees Should Stay Away From Buying How Far $750K Plus Social Security Goes in Retirement in Every US Region 4 Things You Should Do if You Want To Retire Early 12 SUVs With the Most Reliable Engines This article originally appeared on How Paychecks of the Lower Middle Class Would Look in Each State If Trump Ended Federal Income Tax
