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Coventina

(27,195 posts)
Sun Apr 5, 2020, 10:11 PM Apr 2020

1973: My grandma made $5,804.28

That was the year my Grandfather died, so she only worked 10 months, not all twelve months.
She had to get a job after he died.
Fortunately, her house was paid for.

Here was her taxes:

Federal withheld: $830.70
FICA: $336.03
State: $83.09

Just found it interesting. Paperwork was found while cleaning out her house.

My, how things have changed!

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Massacure

(7,526 posts)
5. That would purchase about $33,000 worth of goods in today's world
Sun Apr 5, 2020, 11:16 PM
Apr 2020

The other interesting thing is that the federal government withheld about 20% of her pay. In today's world, that would be about 15% (assuming your W4 was filed as single and not married).

Indykatie

(3,697 posts)
6. I Started As a Management Trainee At Equitable Life in 1974 at $110 a Week
Sun Apr 5, 2020, 11:25 PM
Apr 2020

I remember thinking I was well paid at the time.

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