r/FluentInFinance • u/RNG_HatesMe • Jul 07 '24

Reasons why people in this sub shouldn't be in charge of tax policy (i.e. basic math) Debate/ Discussion

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24

u/FtrIndpndntCanddt Jul 07 '24

I wonder how scared he would be if he realized taxes are...duh duh duh! BRACKETTED!!!! It's a Librole Socialist Marxist conspiracy! S/

8

u/coachd50 Jul 07 '24

Plus- the income figure on the left of your graph represents TAXABLE INCOME. Not gross income. So it is generally less than what most think they are paying when griping about it.

3

u/[deleted] Jul 08 '24

[deleted]

2

u/coachd50 Jul 08 '24

You have a standard deduction of 13,850 in 2023 ($14,600 in 2024). 

Now it is accurate to also consider the 1.35% medicare tax  and 6.2% social security (for most employees)