3 ms·

Standard Deduction is $13,850 https://www.forbes.com/advisor/taxes/standard-deduction/ https://www.forbes.com/advisor/taxes/standard-deduction/ This is below t

Standard Deduction is $13,850 https://www.forbes.com/advisor/taxes/standard-deduction/ https://www.forbes.com/advisor/taxes/standard-deduction/ This is below the poverty level of $14,580. No-one should be taxed on income anywhere near that level. https://www.investopedia.com/terms/f/fpl.asp#:~:text=Key%20Takeaways,%2C%20shelter%2C%20and%20other%20necessities https://www.investopedia.com/terms/f/fpl.asp#:~:text=Key%20T.... Federal minimum wage is $15,080. I may be missing something, but I believe this means people on minimum wage are being taxed! https://www.monster.com/career-advice/article/state-minimum-wage#:~:text=Minimum%20wage%20is%20the%20lowest,year%20for%20full%2Dtime%20workers https://www.monster.com/career-advice/article/state-minimum-....

TheCleric 3y ago
> No-one should be taxed on income anywhere near that level. Don’t misunderstand me. I completely agree with this and would prefer having the standard deduction even higher with higher taxes above it to compensate. > Federal minimum wage is $15,080. I know which is why I said “close to”. This also with the assumption that it’s always 40 hours a week and you never get sick or need time off (which would assuredly be unpaid). Even working 36 hours per week, every week, at minimum wage (which is considered a full time job), would put you under the standard deduction.