Only stupid people would say that unless it isn't a progressive tax system.Good thing there are no stupid people in this country. That would sure be bad.
I have heard someone say this. It's so stupid, and it comes down to people not understanding how taxes work.
FTR, if anyone doesn't know, the tax brackets apply to each dollar.I might need this explained like Im 5.
So your first dollar is only taxed at the rate of the first bracket. You only start paying at the rate of the next bracket with the dollar that passes the threshold.
What this means is you'll never end up taking home less by getting a raise.
In fairness, the way American taxes work is just plain stupid. It's way too complex.It's really not that hard.
I might need this explained like Im 5, but Im not doubting you.It's easier in image form:
It's really not that hard.Damn I know for a fact my boss doesnt make $95k a year. This is honestly hilarious considering his remarks.
It's easier in image form:
https://gamefaqs.gamespot.com/a/forum/1/1aabaa86.png
I might need this explained like Im 5, but Im not doubting you.It's not as complicated as it sounds but it's kinda weird to explain in a general sense, so I guess I'll use last year's brackets as an example.
It's really not that hard.Each individual piece isn't, but as a whole, it's a nightmare.
There are cases where certain benefits get cut with a raise but no idea if the states have a system like that.There are a few cases like that in usa, but nothing absurd I've heard of to make this worth it
I've never heard someone claim to refuse a raise but I occasionally hear people say they got a raise and now take home less bc they're in a higher bracket.Probably the company taking too much out. Pretty easy for us to refile W-4s when we want
Ive never known anyone to say this.I've only heard of it secondhand.
Have you ever heard someone say something like this? It's been a few years since I have but I wanted to die inside whenever they said it. I even had a manager once tell me she refused a raise because she didn't want to get taxed morePretty dumb.
Ive never known anyone to say this.
So many people think California income taxes are so expensive. But unless your household is making over $1 million, its very likely youre paying less in California than you are in your own state.Fact check: false
So many people think California income taxes are so expensive. But unless your household is making over $1 million, its very likely youre paying less in California than you are in your own state.
I explained this to my little sister last year. She's a bank executive.
EDIT: She didn't turn down a raise, just pissed at the tax bracket.
I've only heard of it secondhand.