I think you should have to pay 2% more overall in taxes per year on everything city, state and federal once you make over 120k$
Yep, the US Federal income tax (and many states’ income taxes) are already a progressive tax that separate income into brackets and taxes each bracket at an increasing rate. It’s definitely time to increase that top marginal rate and add a bunch of exclusions that rich people use to hide their money in capital gains.
5318008@lemmy.ml 6 hours ago
Above median salary? What about the fact that, by definition, 50% of people won’t be able to do that?
Okay, okay, so wages rise over time, and eventually 99% of people are making anove 66k… but then the new median will be, like, 150k, and everything in society will be priced accordingly, and some other person will have the great advice that “You gotta step up your game and find a profession that can earn you above that wage” again ignoring the fact that, by definition, 50% of people cannot do that.
No. The solution is not to tell people to work harder. At the bare minimum for this conversation, we should ensure that people making median income have a good quality of life. At the bare minimum for an ethical society, wages would not be the metric that determines whether someone deserves a good quality of life.
Hueristic_Autistic@lemmy.world 4 hours ago
Ever thinl that the 50% that can do it should while they can before etbat kind of hyper inflation happens and like maybe boost the morale with advice on how not to trap yourself in a predatory ass loan or give a list of things you did to achieve your goals that got you into a position where you feel financially comfortable.
I mean shit I’m on food stamps but I found a goal that’s gonna make me bank and is less than 2 years plus I can pay it off in 2 years on a payment plan. I’m gonna be making six figures in less than 5 years. I am more than happy. I’m stepping up my fucking game.
5318008@lemmy.ml 3 hours ago
Fair enough; also by definition, 50% of people make more than the median. Good for them.
Well, not necessarily. I didn’t specify a period of time. In the past 30 years, nominal wages have grown 150%. So if, in the next 30 years, nominal wages grow 150%, we hit the numbers that I gave.
Right, so at this time, you are among the 50% of people who make below median salary. I admire your confidence, but… what if it doesn’t work out? There’s a small chance you get into a car accident and your ppan gets thrown off. There’s a small chance you have a medical emergency. There’s a small chance your house catches fire.
Success is not guaranteed just because you work hard. There’s a chance you make below median salary for the rest of your life. It is MY opinion that it doesn’t matter why you’re making below median salary; you still deserve a life that doesn’t involve making a choice between paying a medical bill or paying rent.