In my career as a doc I have the option of working more and making more money. But it’s top marginal rate income.
If they are taking 62% of every dollar I make - fuck it. I’m going to go to the gym instead. I’m not going to do $1 worth of extra work to make 38 cents.
We're not supposed to care because most people won't get whacked that card.
Redpill: Federal Income Tax started in 1861 and was on-again-off-again until a Constitutional amendment (16A) and the Revenue Act of 1913 set it at 1% on annual income above $3,000. $3000 in 1913 is about $78,000 today.
It's not close to that today.
Ronald Reagan pushed hard on tax reform, because as an actor, it made no sense to make more than a couple of movies, since you really didn't get paid for the last one, the US government did.
When taxes aren't fair people bug out or work less. Look at NYC last year and watch Chicago this year.
That's even higher than the Biden Family tax rate of 50%
Socialism costs money
In my career as a doc I have the option of working more and making more money. But it’s top marginal rate income.
If they are taking 62% of every dollar I make - fuck it. I’m going to go to the gym instead. I’m not going to do $1 worth of extra work to make 38 cents.
I'm sure all the billionaires will pay their "fair share", and not use loopholes.
/s
do you guys have state income Tax ? or is it only a sales tax ?
We're not supposed to care because most people won't get whacked that card.
Redpill: Federal Income Tax started in 1861 and was on-again-off-again until a Constitutional amendment (16A) and the Revenue Act of 1913 set it at 1% on annual income above $3,000. $3000 in 1913 is about $78,000 today.
It's not close to that today.
Ronald Reagan pushed hard on tax reform, because as an actor, it made no sense to make more than a couple of movies, since you really didn't get paid for the last one, the US government did.
When taxes aren't fair people bug out or work less. Look at NYC last year and watch Chicago this year.