I understand the difference between gross and net incomes.
What I don't understand is, why when someone is trying to
determine how much money you have to pay bills with, the
amount that counts is the gross income. A good share of
which one never gets to see.
The usual deductions are Federal taxes, State taxes, S.S.
and Medicare. At least those are the minimum. Then there
is retirement, insurance and a few others.
Fed and State taxes you are lucky if you get to see 7%
back as a refund. S.S, you have to wait until you turn 65
or get disable before you get to see that and even then
it is in small payments over years. And if you die young
you never see it, or only a small part of it. Same thing with
retirement. And insurance depends on how sick you are
if you get a return on that. And you actually don't get it,
the doctors and hospitals get that.
So WHY ON EARTH, do the loan companies count the
gross amount. When you don't get that money, some of it
ever. Why don't they count the net. That is the part you
actually get to take home with you. That is what you get
to buy things with. Have the comforts of home.
And if you are a parent putting a child into college, well,
those of you who already been there, did that, know you
can be over waged, when in actuality you are under.
One who gets about $44,000 actually gets about $26,000,
if they are a single parent. Where is the fairness of that?
How can you claim you get more money than you actually
get? How can the companies make you say you get more
money than you actually get to take home?
I know, I know, this has been going on for years..but for the
life me, I don't understand why
22 hours ago