• partial_accumen
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    263 hours ago

    And we’re talking about progressive tax brackets here. ONLY the money over $400k will be taxed higher. As in if you make $405k per year, only the $5k will be taxed higher.

    • @IMNOTCRAZYINSTITUTION
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      221 minutes ago

      these are the people who think progressive tax brackets means they make you pay extra if you’re white and straight

    • @the_joeba
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      102 hours ago

      They will never understand that. I knew a guy who refused a raise because it would put him in the next tax bracket. I didn’t even try to explain it.

      • partial_accumen
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        133 minutes ago

        When I was in my early 20s there were a few personal finance things like this I didn’t understand. Here are a couple examples:

        1. I refused a credit card limit increase because I thought that it was a trap to get me to spend more. I didn’t understand FICO scores are partly determined by “amount of credit” and “credit utilized”. I likely cause myself to later spend more money on higher interest rates when I got a loan because my credit score could have been better.
        2. I was mildly upset I got $1000 as a bonus instead of a pay income because I thought that bonuses were “taxed at a higher rate” when instead they are simply “withheld at a higher rate” and it all washes out in the end when you pay your taxes at the end of the year.

        But I grew up and learned these things in my 20s and didn’t carry those mistakes into later adulthood.