Related: Robert Reich posted earlier today that Tesla paid ZERO taxes on $5 billion in sales (earnings?), so that’s just fucking great.
Related: Robert Reich posted earlier today that Tesla paid ZERO taxes on $5 billion in sales (earnings?), so that’s just fucking great.
Like, I get it. Tax the billionaires out of existence, but I am pretty certain the bracket at which you’re paying 25% in taxes is income over 100k.
Nope! 36,000 gross and 27%.
$36000 would owe about $6k in federal taxes, or about 17% total across the brackets. That’s including deductions for social security and all. I know some states have income taxes, but those are state taxes, not US taxes. Do any of those push people into the 27% range at that income level?
Completely unnecessary with the lack of high income taxes or wealth taxes nonetheless.
It’s really gross to me how people misrepresent taxes so often.
And especially people who I KNOW aren’t complaining about OASDI and Medicare, other than perhaps they need MORE funding. Yet they include those when they toss out random numbers like “25%”.
The tax rates are defined and published. These aren’t fuzzy numbers we can play with, like survey results or experimental measurements or estimates. It’s literally just math and yet people refuse to do it.
Hell, my in-laws continue to itemize their deductions in amounts less than the standard. They think they’ll get audited of they don’t. I’ll never understand it and I cannot go over it again with them for my own sake.
Offer to do their taxes for them. Pocket the difference. Better it go to you than the IRS.
17% is still 17x more tax burden than Bezos or musk pays.
Well, sort of since they tend to get it down to 0, which is sort of an undefined or infinite amount more any taxpayer pays.
I’m just hoping people aren’t overpaying their taxes by improperly deducting, which someimes seems to be the case with how taxes are referred.
What if I told you it’s possible to tax assets you own, not just money you earn?
Wealthy people make money by simply collecting interest off of owned assets. You and I are the ones who must earn income by selling our labor. By taxing income and not assets, poor people are forced to subsidize the existence of the wealthy.