• mkwt@lemmy.world
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    4 months ago

    Just to be clear: with a marginal tax rate, if your income is $10,000,001, you pay $0.70 tax for the $1, and the rest of the $10,000,000 is taxed according to the lower tax brackets.

    The first $50,000 of that $10 million is taxed just like the guy that only made $50,000.

    The US tax system is slightly more complicated than this, but there’s no situation where you can get stuck with a huge additional bill because you edged slightly into the next higher tax bracket.

    • cybernihongo@reddthat.com
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      4 months ago

      Really makes you think what if the people in the meme actually understood these bits. Oh what am I saying, they would and still insist this is the big bad.