Tell me you don’t know how income taxes work without telling me you don’t know how income taxes work.

My question is who does their taxes then?

Thanks, Lemmy, now I’m “that Dad”. After reading this, I went to dinner with my two teens and one of their girlfriends, so of course I had to bring this up. All three have started working after school and will need to file their taxes this year so they need to know.

But holy crap is that a seriously uncool conversation

And they'll also refuse to believe you when you try to explain it to them

Shouldn't it be physically possible to be taxed so much that your income lowers compared to what it was previously?

Like you would have to have a 20% bump in pay, and an increase in taxes that's like 25-50% or something insane. Of course if you cherry pick data, and pick a high ceiling, and then just barely pass a threshold you can probably make it appear, but that would be a pretty well defined statistical anomaly. And, not very much money.

edit: and this is assuming that taxes literally just don't work the way that they do, this is WITH broken tax logic.

of course, the idea of a progressive income tax is that at a certain point, it becomes untenable to hold so much money. But unless taxes are literally 100% it's hard to make the argument that you're "losing" money.

lol i wonder how much that is just guessing. they just coin flipped it