Tbh, literacy in the US, financial or otherwise is abysmal right now.
Comment on Is 33 cents a small amount of money?
w3dd1e@lemm.ee 1 day ago
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.
Mossheart@lemmy.ca 9 hours ago
GaMEChld@lemmy.world 21 hours ago
Your partner is a moron who doesn’t understand relatively simple math.
alkbch@lemmy.ml 21 hours ago
There’s not enough information provided to reach this conclusion.
Fredthefishlord@lemmy.blahaj.zone 21 hours ago
There is very much enough information given to reach that conclusion.
alkbch@lemmy.ml 20 hours ago
No, there is not. There are many tax credits one is no longer eligible for after a certain threshold. There are various programs one is no longer eligible for after a certain threshold.
w3dd1e@lemm.ee 15 hours ago
Nah. He’s not an idiot. But he is impatient. He doesn’t handle paperwork or anything involving patience well. (ADHD)
I also think taxes in the US are intentionally over complicated and confusing. I don’t struggle with things like that but I can empathize with people who do.
InternetCitizen2@lemmy.world 15 hours ago
Strictly speaking the taxes in the US are not that complicated, but the credits, deductions and what not are. Still Tomato Tomato.
KillingTimeItself@lemmy.dbzer0.com 13 hours ago
have you considered asking him why he even thinks that in the first place? You’ve literally put him into a spot where he’s too stupid to even care about whether or not that response is logical or makes sense.
If he just doesn’t want to work overtime that’s fine, a lot of people don’t, why would he justify it with stupid tax logic that he evidently must know is stupid? Seems like cope to me.
You cannot simultaneously “be smart” and then “be stupid” you are either stupid about something, or not. It’s one of the two. I’m sure he’s a pretty generally smart guy, most people are, but either it’s an excuse he uses because he doesnt want to work overtime, or he’s literally uneducated (and therefore stupid) about taxes, and chooses not to be educated about it, even though it would be financially beneficial to him, because that’s literally how money works. (which would also make him pretty objectively stupid in that case) again, he may not care at all, but then why wouldn’t he just be upfront about not caring?
w3dd1e@lemm.ee 7 hours ago
I would disagree with your premise but it’s not your fault. It’s my fault for not explaining it clearly
I don’t think not knowing something makes you stupid. Humans can’t know everything. We all have strengths and weaknesses. I know about taxes, but I don’t know shit about cooking. He cooks dinner, I deal with the bureaucracy situations.
Also, I’m don’t know if you’ve ever spent time with someone who struggles with ADHD and Neurodivergence but their brains don’t work like others. They can’t force themselves to do things that other people can tough out. They can study all night but if their brain can’t stay on track, they won’t be able to retain it.
When I come along and start telling him how tax brackets work, especially if he didn’t ask me, hes going to be frustrated and he’s not going to get through it easily.
I don’t know if he just doesn’t want to work OT and has settled on this excuse or if there is some other issue but it doesn’t matter. If he doesn’t want to work OT, that’s okay!
sloppychops@lemmy.ca 18 hours ago
This is not a US specific issue, tbh. I’ve heard this weird belief repeated by all sorts of people.
bountygiver@lemmy.ml 11 hours ago
it is a misinformation many people in power wants to keep because it lets republicans sell their policies to not tax the rich and bosses to not raise their employee’s salaries.
w3dd1e@lemm.ee 15 hours ago
You’re absolutely right. I cant speak for anyone else, as I don’t live there but I highly doubt the US is an exception.
Rather than being mad at each other, I want to make sure we hold the right people accountable! Governments, corporations, billionaires etc.
It’s a form of oppression.
dan@upvote.au 12 hours ago
I’ve heard it in Australia too, which has the same tax bracket system as the USA. I think the fact that this stuff isn’t taught in school is a major issue.
surewhynotlem@lemmy.world 19 hours ago
“you can’t make less money by making more money”
kkj@lemmy.dbzer0.com 19 hours ago
Unless you’re poor enough to be on welfare. The Welfare Cliff is awful.
socsa@piefed.social 17 hours ago
This can also apply to student loans when one person makes a lot more than the other.
arrow74@lemm.ee 22 hours ago
Oddly enough it kinda does. OT can make you pay out more taxes on that one check since withholdings are calculated by check. Basically the government/payroll system thinks you’re going to be making that every week so more taxes will be taken out.
In reality this only effects the size of your tax bill or return at the end of the year.
shalafi@lemmy.world 17 hours ago
That’s what people see and exactly why they think they got kicked up a whole tax bracket.
jj4211@lemmy.world 17 hours ago
The whole notion of “kicked up a tax bracket” is also a misleading thing. Only a piece of your income goes into the “new bracket”, all pay under the new bracket is taxed as they would have been used to.
w3dd1e@lemm.ee 16 hours ago
Exactly, and it also depends on what withholding you have requested.
recall519@lemm.ee 22 hours ago
Run, if it’s not too late.
underwire212@lemm.ee 15 hours ago
We all have our weaknesses and faults. No need to dismiss every relationship due to imperfections.
w3dd1e@lemm.ee 16 hours ago
Nah. He’s not a bad person or a dummy. He just gets frustrated by bureaucracy and doesn’t have the patience I have.
recall519@lemm.ee 11 hours ago
It’s not the fear of bureaucracy that is concerning, it’s the lack of interest to listen to your sound advice on a relatively simple topic.
w3dd1e@lemm.ee 8 hours ago
That’s fair. I appreciate your concern for me!
He’s not always like that. I didn’t mean to make him sound like a jerk. I just meant to relate to the topic of tax confusion with personal experience.
He had pretty severe ADHD and struggles with some topics. It’s okay! I deal with the money stuff and he cooks dinner. :)
YarHarSuperstar@lemmy.world 9 hours ago
Nah. There’s good people here and even the people who voted for this deserve to have their needs met, many of then are only personally responsible for a tiny fraction of the immense harm caused by the systems of power. And they may not have caused any harm if they lived in a place where people are always taken care of as well as is reasonably possible. there is immense pressure to shed empathy and embrace individualism and forego the many benefits of community such as efficient and effective collaboration, for example to prevent a disease from spreading or at least reducing the harm it causes. As many of us can see, especially obviously in the US, the goal isn’t actually to stop causing harm in the first place, or even reduce the harm that must be caused for your society to function, the cruelty is often quite literally the point.
sfu@lemm.ee 7 hours ago
I’ve had jobs (more than one), where working OT would result in my paycheck take home pay being less than if I had not worked the extra hours. And that’s because it moved me into the next bracket, and more taxes were taken out. So why waste my time working OT?
Dnb@lemmy.dbzer0.com 1 hour ago
That’s not how is works though.
I’d you made say 1500 normally and 2000 with ot your take home could be 1200 and 1400. Paying more taxes overall on the ot but still taking home more.
There is no way you’d take home less money because taxes are paid on the first $1500 @ $300 and say the next $500 @ $300 too at a higher bracket. Overall your pay is still higher though even though your taxes “doubled”.
sfu@lemm.ee 37 minutes ago
Well, it has happened more than once. Of course it would depend on the amount of overtime I worked. It probably happened if I only worked a little OT.
Dnb@lemmy.dbzer0.com 10 minutes ago
That’s not how it works though. Unless you didn’t work regular hours during that same time period so worked less overall OT is taxed higher upfront so you don’t end up owing (more), but would never decrease your pay
GrosPapatouf@lemmy.world 7 hours ago
I think you’re on the wrong side of the chart here.
spacesatan@leminal.space 6 hours ago
Or the person calculating their withholding was. But if you’re paycheck to paycheck then that paycheck amount is all that really matters. Cool, I get a bigger refund eventually, but I’m now choosing between eating, walking 2 hours to work to save gas, or letting a bill go unpaid.
Odelay42@lemmy.world 22 hours ago
By design
Feathercrown@lemmy.world 20 hours ago
No, they teach you this in high school. These people are just dumbasses
w3dd1e@lemm.ee 16 hours ago
Yeah, I definitely didn’t leave this in school. I know about it from reading articles on tax brackets. _(‘’)/
Odelay42@lemmy.world 19 hours ago
Yes, everyone’s education is the same as yours.
SkunkWorkz@lemmy.world 2 hours ago
it’s just not the US. I live in the Netherland and many people here think OT and bonuses are taxed differently, because they see a higher tax rate applied to it on their slip. They forget that their base salary covers multiple brackets and a tax credit. Thus has a lower average tax rate than their OT and bonuses which falls in their top bracket or even a bracket above.