Comment on YouTuber Faces Possible Jail Time for Reviewing Gaming Handhelds
mnemonicmonkeys@sh.itjust.works 1 week agoThat’s still not how progressive tax systems work. In your example, it’s the first 20k is taxed 23%, then the next 32k is taxed 25%, then the next 50k is taxed 35%.
So if you made 52k in a year, the first 20k yields 4.6k in taxes, then the remaining 32k yields 8k in taxes. Leading to a total of 12.6k in taxes, or an effective rate of ~24.2%
TroublesomeTalker@feddit.uk 6 days ago
When the scores are settled sure, doesn’t mean there’s not mechanisms in any particular country that make this harder. Work two Jobs in the UK without carefully sorting PAYE and one of those will be collected at 40% emergency rates. You get it back eventually, but if you are paying transport, meals and other expenses to attend the second job I can see how it could get close to nothing. You get most of it back later, but that doesn’t help marginalized people trying to earn extra right now.