3 ms·

> Why do people think a $1B donation saves $1B in tax? A distressingly large slice of eligible voters don't even understand how marginal tax rates work. Which

> Why do people think a $1B donation saves $1B in tax? A distressingly large slice of eligible voters don't even understand how marginal tax rates work. Which is, like, the absolute minimum to have any clue whatsoever how US income taxes are applied, what tax bills will actually do if they become law, and so on. I'd be surprised if understanding of how deductions work is any more widespread. [EDIT] Not a great source, but it's in-line with the results I've seen from better ones in the past: https://today.yougov.com/topics/politics/articles-reports/2013/01/08/understanding-how-marginal-taxes-work-its-all-part https://today.yougov.com/topics/politics/articles-reports/20... Roughly half don't understand how marginal tax rates work. Can't find data on how many US adults understand how deductions work, but I doubt it's better.

yamtaddle 4y ago
Can't edit anymore: not mad about the downvotes, but I also don't understand them, at all. What about this rubbed people the wrong way? The answer to the question is that lots and lots of people don't understand how income taxes work, even a little. So many that one may expect to regularly encounter such people. I'll grant the results are from the social science side of things, which HN doesn't much care for, but that's just... where the answers to that question happen to come from.
mrep 4y ago
> Can't find data on how many US adults understand how deductions work, but I doubt it's better. Almost certainly much much lower seeing as how a ton of people here don't understand how deductions work.