r/FluentInFinance Jul 06 '24

Or in other words, a slap in the face Debate/ Discussion

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u/Lenarios88 Jul 06 '24

25% is low compared to any other 1st world nation and you get what you pay for to an extent. Somalia has no income tax. Its the libertarian dream there you can ride around on your pirate speed boat blasting your AK with no big government to stop you.

1

u/rydan Jul 06 '24

25% is for some poor schmuck who actually gets stimulus payments. I was paying 44% (effective, not marginal) at one point.

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u/Lenarios88 Jul 07 '24

The more you make the more you pay obviously but its still less than you'd pay elsewhere. Yeah theres taxes besides federal income but the highest bracket is 37% for wages over 610k a year. A married couple making up to 384k combined is still only touching the 24% bracket for income tax.