Pilotguy21

1) Airline employer - USAF
2) Seat - (doesn’t matter)
3) Equipment - C-5M
4) Years of Service with company - 6, 5 as a winged flyer
5) How many days you worked - 297
6) How many overnights you had - 134
7) How many hours you flew - 623
8) How many hours did you work the desk - 1630
9) Total gross base pay - 69516
10) Extras: per diem - 8400, housing and subsistence allowance - 33852, flight pay - 2472
11) Employer retirement contributions - 0

Total - 112000 and change. C-5M is about as high paying as you can get in the AF.

Comes out under 30 bucks an hour LOL

Time to get out...o wait I can’t until 2023

labbats

Bad totals for the military indeed but no struggle to obtain ratings financially.

Larry in TN

It can vary considerably based on in which of the 50 states you live.

The Federal income tax rates are changing for the 2018 tax year. The tables are easily available online. The trick is determining how much of one's income will be "Taxable" as that's the figure that you'll use to enter those tables. For the 2016 tax year I ended up paying an effective income tax rate of 10.06% with income that put me in the 25% tax bracket (each additional dollar was being taxed at 25%) with income in the low-100,000s.

We pay 7.65% to Social Security and Medicare. The Social Security portion (6.2%) caps out at $128,400 of earnings. The Medicare (1.45%) is not capped.

Individual state and local taxes are set by your state and local governments. I live in one of the seven states with no state income tax (Tennessee). Our sales tax is relatively high at 9.75% but some items are exempt or have reduced rates. Property taxes can also vary considerably. I pay a bit under $2200 per year. That's definitely on the low end. I flew with a Captain who had a water-front, but modest, home in New Jersey. His property taxes were $24,000/yr which is very high, IMO.

FXDX

Knowing you are serving your country: priceless.

Thank you for your service.

Pilotguy21

Not quite but thank you

flensr

A simple answer for US tax rates is that it depends...

With gross household income below about $150,000, a house, married with a few kids, and living in a state with low income and property taxes, you might see an effective tax rate as low as 15% (about what I paid for a few years in Nevada). On the other hand if you move to states with high income and property taxes, and get your income up much higher than $150k, and there's a pretty steep jump up to an effective rate that could be 40% or more, counting only federal and state taxes and property taxes. Once you add in sales tax anywhere from 6 to 9%, you're potentially looking at quite a bit over 40%.

If your employer doesn't offer health care, a family of 5 making $100,000 can pay over $10k/year with a $10k deductible for health care insurance on the state insurance exchanges, adding another 10% burden that was a mandatory part of obamacare until just recently. This cost may have gone up, that's what I was quoted when I looked at buying my own health care a couple of years ago.

Deductions that reduce taxable income and retirement investment incentives start to vanish with household incomes above approximately $150k (I can't remember the threshold where IRA contributions don't count) and above a certain point you hit AMT rules which kills off almost all deductions and hits you with the full tax rate on pretty much your entire income. State income tax in California at the high end is around 9%.

My personal federal income tax hovered around 20-25% making up to $80k when single, then dropped closer to 15% making up to $120k with 3 children.

When my wife was working in the UK, she made enough to jump to what looked like a 45% tax rate. I was working in the US at the time and due to reciprocal tax agreements, the amount she paid to the UK was higher than our combined tax burden to the US would have been so I got back every dime that I had paid in taxes to the US, dropping us back to an effective rate of around 25% again.

Galaxy5

At least you’re getting to fly a real plane. So many out there had the wool pulled over their eyes and think there are other “Big” grey airplanes. There are only medium and small ones.

East Coast or West?


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Pyro

Huh? We all get paid the same?

PRS Guitars

No we don’t, he’s probably talking per diem...but other differences are BAH, combat pay, etc. At the end of the day, it’s all fungible income.

Pilotguy21

Ya exactly. C5 goes to high per diem places and breaks a lot. That’s all I meant. It’s only a couple grand more than other heavies at most.