I'm getting... screwed. Made the simple mistake of working harder this year. All the extra I made put me in the next tax bracket... so I am earning a whopping 22 cents on the dollar for my second job.
I would have been better off NOT working.
This just doesn't make sense. You can't make less money by going into a new tax bracket. You're only taxed at the new rate on the amount you make that's over the bracket cut-off. Twenty-two cents on the dollar? How is that possible? There is no 78% tax rate, even if such a tax rate applied to all your income.
Anyway, we're paying less taxes to the gov't than at any time post-WWII, and we're still getting way more bennies than we ever did before! What could be wrong with that?
Comments
Originally posted by Jubelum
I'm getting... screwed. Made the simple mistake of working harder this year. All the extra I made put me in the next tax bracket... so I am earning a whopping 22 cents on the dollar for my second job.
I would have been better off NOT working.
This just doesn't make sense. You can't make less money by going into a new tax bracket. You're only taxed at the new rate on the amount you make that's over the bracket cut-off. Twenty-two cents on the dollar? How is that possible? There is no 78% tax rate, even if such a tax rate applied to all your income.
Anyway, we're paying less taxes to the gov't than at any time post-WWII, and we're still getting way more bennies than we ever did before! What could be wrong with that?
Originally posted by trumptman
You know, you really should include some smilies with that to set us all at ease.
Nick
OK. How about:
"Bush is like Hitler."
"Cheney is like Mussolini."
Or are those metaphors?