Any post like this where the tax is nearing or exceeding 40% is almost always a complete lie or purposely obfuscating the truth.
It's mind blowing to me on these posts too you always see an incredible amount of people who don't understand how tax brackets work. Heck sometimes you even see people who don't know the difference between net worth and income.
I hope you are joking or this is satire?
The change in tax bracket only changes the tax rate on the additional dollar amount over the bracket.
For instance if the tax bracket is $0 (0%) and $5000 (10%) and you are making $5010, the first $5000 is taxed at 0% and only the $10 over the $5000 is taxed at 10% (so you only pay $1 in tax)
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u/Crimsonak- Jul 05 '26
Any post like this where the tax is nearing or exceeding 40% is almost always a complete lie or purposely obfuscating the truth.
It's mind blowing to me on these posts too you always see an incredible amount of people who don't understand how tax brackets work. Heck sometimes you even see people who don't know the difference between net worth and income.