Comment on Is 33 cents a small amount of money?
finitebanjo@lemmy.world 1 month ago
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.
LodeMike@lemmy.today 1 month ago
This is actually not true as it doesn’t take into account the standard deduction
jacksilver@lemmy.world 1 month ago
Read the chart, it says taxable income.
Deductions and other tax games may lower you’re taxable income, but the progressive tax brackets apply this way to all taxable income.
Nurse_Robot@lemmy.world 1 month ago
I upvoted because you choose to strike thru rather than delete. Big props for that
LodeMike@lemmy.today 1 month ago
I try to be accurate. Hence why the comment in the first place.
fushuan@lemm.ee 1 month ago
Agreed, I love people that own their mistakes.
finitebanjo@lemmy.world 1 month ago
It does not take into account a lot of things, namely the many many deductions for qualifying individuals.
yunxiaoli@sh.itjust.works 1 month ago
Not all people take the standard deduction, this is true before all deductions and similar economic stimuli.