Math Final

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Dobagoh

Member

12-12-2012

yea but your australian dollars are worthless when your income tax is almost twice ours and you have a higher cost of living


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Mere Intricacy

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Senior Member

12-12-2012

Current exchange rate
1 Australian dollar = 1.0552 US dollars
Not that much of a difference.

Average Australian Wage: $69, 992
Average American Wage: Some where around the $26 000 mark

I'm not sure how to compare cost of living...
Should I compare house prices.. Or the some of a few items?


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Dobagoh

Member

12-12-2012

Quote:
Originally Posted by Mere Intricacy View Post
Current exchange rate
1 Australian dollar = 1.0552 US dollars
Not that much of a difference.

Average Australian Wage: $69, 992
Average American Wage: Some where around the $26 000 mark

I'm not sure how to compare cost of living...
Should I compare house prices.. Or the some of a few items?
you fail very hard.

the average american wage is no where near 26k.


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c4lm

Member

12-12-2012

Quote:
Originally Posted by Dobagoh View Post
you fail very hard.

the average american wage is no where near 26k.
Probably lower.

hue


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Mere Intricacy

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Senior Member

12-12-2012

Yer you're right, I looked up this first article, but I checked the Cenous Berue and they say $50,000.
That's still a 20 K difference.

http://www.census.gov/newsroom/relea.../cb12-172.html


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Dobagoh

Member

12-12-2012

20k diff is meaningless when you pay 15%+ more tax than us, and your **** cost more than ours.


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silentpartner

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Senior Member

12-12-2012

Quote:
Originally Posted by Dobagoh View Post
20k diff is meaningless when you pay 15%+ more tax than us, and your **** cost more than ours.
It is all relative obviously

What is america's minimum full time wage? That would be a good place to start to see the difference the countries believe is a "livable wage"

Australian minimum wage = $15.59/hr or $606.40 /week or $31,532.8 pa

American minimum wage = $7.75/hr or $310 /week (although it does vary quite a lot state to state)

I tried to look into tax rates, but couldn't find a simple american tax rate...

An Australian on minimum wage will pay $2,533.23 in tax, so a rate of ~8.03% (This tax rate has recently been lowered significantly for this wage bracket (<37k pa) - but only because of impending cost of living increases) Leaving a total of $28,999.6 to live off pa

All full time Australian workers also receive 9% superannuation from their employer for when they retire (similar to American social security?? except the employer pays not the employee)

So from this you can see how it's significantly 'harder' to live in Australia with arguably almost 2x the cost of living.

If anyone can help with American tax rates that would be swell


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c4lm

Member

12-12-2012

Quote:
Originally Posted by silentpartner View Post
If anyone can help with American tax rates that would be swell
Never try to figure the american system for anything.

It will take you to the dark places of wikipedia.


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Mere Intricacy

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Senior Member

12-12-2012

Quote:
Originally Posted by Dobagoh View Post
20k diff is meaningless when you pay 15%+ more tax than us, and your **** cost more than ours.
Oh and you say I'm failing on stats.


Say you earn 50K.
In the US.
4 867.50 + (0.25 x (50000 - 35350)) = 7132.50 tax
That's 14.265%

In Australia.
3572 + (0.325 x (50000-37000)) = 7797
That's 15.594%

Hardly 15% more...

http://www.ato.gov.au/businesses/con...0&mfp=&st=&cy=


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c4lm

Member

12-12-2012

Quote:
Originally Posted by Mere Intricacy View Post
Oh and you say I'm failing on stats.


Say you earn 50K.
In the US.
4 867.50 + (0.25 x (50000 - 35350)) = 7132.50 tax
That's 14.265%

In Australia.
3572 + (0.325 x (50000-37000)) = 7797
That's 15.594%

Hardly 15% more...
Isn't your sales tax stupid high....