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When you're in that tax bracket, there are plenty of tax break/benefit cliffs that are more impactful than tax rates. And they can certainly make your take-home
by medvezhenok 2y ago
When you're in that tax bracket, there are plenty of tax break/benefit cliffs that are more impactful than tax rates. And they can certainly make your take-home pay go down if you accept a raise. See:
https://news.ycombinator.com/item?id=41048205 https://news.ycombinator.com/item?id=41048205
- reaperman 2y agoBut that still doesn't explain the common denominator between a person living comfortably and a person in poverty both not understanding how tax brackets work or ever having to consider the most basic parts of how their own taxes are calculated, for so, so many years of their lives.