Hungary used to have a system, which worked like what the republicans imagined, which made “taxing the rich more” a widely unpopular move…
If you ever wanted proof that a population that doesn’t understand math allows the billionaires to take advantage of them here it is. This is why education systems are under attack, because if you understood how taxes work you’d more likely support higher tax rates for the rich.
I think this is at least partially the result of intentional propaganda. It benefits the elite greatly if a lot of Americans are screaming against higher top tax rates due to this faulty logic. There are also a lot of anecdotes of people not accepting higher paying job offers or promotions within their company, which also benefits the business owners.
To be clear for those unaware, you pay the lower bracket rates for the amounts earned in that bracket and the higher bracket rates for the amounts earned above that bracket.
https://www.irs.gov/filing/federal-income-tax-rates-and-brackets
This is actually not true as it doesn’t take into account the standard deductionI upvoted because you chose to strike thru rather than delete. Big props for that
I try to be accurate. Hence why the comment in the first place.
Read the chart, it says taxable income.
Deductions and other tax games may lower you’re taxable income, but the progressive tax brackets apply this way to all taxable income.
It does not take into account a lot of things, namely the many many deductions for qualifying individuals.
Not all people take the standard deduction, this is true before all deductions and similar economic stimuli.
I’m more concerned about the third of dems who don’t understand this.
it’s in the shitpost community and there’s no sources cited
My tired brain read your comment as “shitpost economy” and somehow that still made sense to me.
Oh