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The people get more money which is the point how much the rich have is irrelevant. (8)
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This is kinda a misrepresentation, as the middle/lower class gets richer, so does the upper class. Not the other way around (20)
Angriest Comments
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Thats....not rich...? Depending on where he lives that wouldn't even be enough to pay his bills (0)
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I'm not denying his hard work, just pointing out the hypocrisy of saying "anyone can do it" when here in America the average cost of a master's degree is about $60,000 and he'd be out on the streets starving or dead if he spent 2 years job searching.Edit: that's $60,000 not including undergrad. (1)
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You think the black book of communism is accurate don't you? (0)
Biggest Lolcow: /u/iltwomynazi
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I like all these Reddit finance subs like this one and /r/fluentinfianance where people just post infographics ands go "Is this true? π€" before posting about how you shouldn't take a pay rise because you'll lose money by going into a higher tax bracket
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Fun fact: In Italy this literally happens if you get a raise from 34k a year to 35k because of tax relief measures. People with <35k salary get a 6% tax relief but if you pass that threshold you get absolutely nothing, not even on your first 35k, so there's a gap where you can end up losing money overall.
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There's a ton of benefit cliffs in the US as well, just not for income taxes specifically.
Another fun fact: Illinois has a flat state income tax, mandated per the state constitution. There was an amendment up for a vote a couple years back to allow them to make it progressive, with brackets, just like the federal income tax.
Except for literally no discernible reason, the top bracket, and only the top bracket, applied to all your income, not just the income in that bracket. All other brackets functioned normally.
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