They should have a negative tax bracket

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Current Events » They should have a negative tax bracket
RetuenOfDevsman
03/20/2024
05:23 PM
#1
So like, up to a certain income you get extra money instead of paying taxes.

This is a joke thread but if you're determined to take it seriously, I can't stop you.
#2
Post #2 was unavailable or deleted.
emblem-man
03/20/2024
05:37 PM
#3
Godnorgosh posted...
Imagine taxing someone who makes like 20k a year in the year of our lord 2024

That's like spitting in someone's eye after pouring dirt on it

I mean, if you're married you don't pay federal income tax if you make less than $27,700(standard deduction for 2023) if you're filling jointly.

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Xenogears15
03/20/2024
05:38 PM
#4
...isn't that literally what an income tax return is?
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ironman2009
03/20/2024
05:38 PM
#5
Godnorgosh posted...
Imagine taxing someone who makes like 20k a year in the year of our lord 2024

That's like spitting in someone's eye after pouring dirt on it

You get tax forgiveness in most states if you only make that much.

Edit - income tax forgiveness
THRILLHO
archizzy
03/20/2024
05:39 PM
#6
I don't know the exact numbers but I have a good friend who does in home daycare for years now but she only makes about 15 or 20K a year and she gets virtually all of her income taxes back every year.
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kingdrake2
03/20/2024
05:41 PM
#7
archizzy posted...
I don't know the exact numbers but I have a good friend who does in home daycare for years now but she only makes about 15 or 20K a year and she gets virtually all of her income taxes back every year.


25-30k... not saying it's good and all but it's better than ending up in the street without a home.

but with this amount there's a small amount of federal that comes back every year.
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AlephZero
03/20/2024
05:42 PM
#8
i turned down a raise at work because i don't want to be taxed more
"life is overrated" - Seiichi Omori
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RetuenOfDevsman
03/20/2024
05:43 PM
#9
Xenogears15 posted...
...isn't that literally what an income tax return is?
No, a tax return is a self-audit of the taxes you've already paid and the accompanying adjustment.

If you get a tax re fund all that means is you did your withholding form wrong and you paid more than you actually owed in paycheck withholding.
archizzy
03/20/2024
05:44 PM
#10
AlephZero posted...
i turned down a raise at work because i don't want to be taxed more

Haha, I remember that recent topic.
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60" Pioneer Kuro Elite PRO151FD, Yamaha RX-V3900 A/V Receiver, Oppo DV983-H player. Coming soon: 2 Seaton Submersives from Mark Seaton
BewmHedshot
03/20/2024
05:50 PM
#11
There basically is if you consider the value of services provided to you by the government.
SunWuKung420
03/20/2024
05:51 PM
#12
Nobody should not have enough to survive as long as their are others who have enough to feed an entire nation. - Me
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Dakimakura
03/20/2024
05:52 PM
#13
They should have a opt out of taxes bracket but you can't use the roads, school systems, or government facilities.
Bees
Squall28
03/20/2024
05:53 PM
#14
Isn't this just welfare which we already have?
You can't go back and change the beginning, but you can start where you are and change the ending.
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Trumble
03/20/2024
05:57 PM
#15
It's not a bad idea to help low income earners out a bit. Of course, it'll never actually happen.
Do, or do not. There is no Trumble.
Robot2600
03/20/2024
06:01 PM
#16
it's called "unearned income credit" and it's already a thing.
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tankboy
03/20/2024
06:01 PM
#17
Dakimakura posted...
They should have a opt out of taxes bracket but you can't use the roads, school systems, or government facilities.
And people can pollute on you as much as they want!
xGhostchantx
03/20/2024
06:07 PM
#18
That's called negative income tax.

https://en.wikipedia.org/wiki/Negative_income_tax
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Baha05
03/20/2024
06:08 PM
#19
Honestly taxes really need a massive overhaul given some of the shit that can happen.
"He may be Mr. Clean, but his soul will always be dirty!"
#20
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Current Events » They should have a negative tax bracket