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defrost
on May 1, 2024
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Dear Europe, please wake up
Both state and federal are
progressive
tax brackets and the 50.3% tax rate is only paid on dollars earnt
over
a threshold.
https://youtu.be/4PJfDNfg5KI?t=77
fragmede
on May 1, 2024
[–]
Yes, that's correct. If I did my math correctly, if you made $4 million, you'd end up with $2,052,391.57, which is an overall rate of 48.69%, for those that don't understand progressive tax rates.
fragmede
on May 1, 2024
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parent
[–]
(For someone who's single; unmarried)
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https://youtu.be/4PJfDNfg5KI?t=77