If you ever wanted proof that a population that doesn’t understand math allows the billionaires to take advantage of them here it is. This is why education systems are under attack, because if you understood how taxes work you’d more likely support higher tax rates for the rich.

To be clear for those unaware, you pay the lower bracket rates for the amounts earned in that bracket and the higher bracket rates for the amounts earned above that bracket.

https://www.irs.gov/filing/federal-income-tax-rates-and-brackets

This is the problem. My partner doesn’t want to work OT because he thinks it will cost him more in taxes. I explain why that’s not exactly true, but I can tell he’s not interested. Financial Literacy in the US is abysmal.

When you are talking large income to larger income, that makes total sense, but are there limits for access to things like child tax credits where if you go over you are no longer eligible, causing significant increase (I just looked, and it’s at $200k single of $400k jointly, so unless you have A LOT of children, I suppose there wouldn’t be a huge effect)? Similar to people on government assistance who go from getting full assistance to getting nothing at a certain income level?

That’s a loaded question. Poor methodology.