Conversation
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whirly
i didnt realize how the brackets work. if your taxable income is 50k youre getting taxed in the first bracket, second bracket, and 3rd backet. Not just the 3rd bracket. its like a ladder.
idk ive never done taxes by hand i didnt realize it worked this way before reading about it.
idk ive never done taxes by hand i didnt realize it worked this way before reading about it.
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pistolero
p@fsebugoutzone.org
@whirly Yeah, it was that way because people would stop their income to avoid jumping a bracket because they'd end up making less money. Now it's x% for income between $y and $z, and it's a little trickier but it's less retarded.
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always
whirly
@p using the 50k as an example, you save almost 5k using the ladder system. definitely better this way.
3rd bracket definitely seems the least "fair" though. 47150 - 100525 at 22%, the 2nd bracket's only 12%. the 4th bracket's only 24%. i mean idk what im talking about but that's a big leap in the middle class area.
3rd bracket definitely seems the least "fair" though. 47150 - 100525 at 22%, the 2nd bracket's only 12%. the 4th bracket's only 24%. i mean idk what im talking about but that's a big leap in the middle class area.
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pistolero
p@fsebugoutzone.org
@whirly Nah, you are accurate, it is dogshit. It is one of the reasons it is popular to have an LLC and a trust.
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