• Davin@lemmy.world
    3·
    24 hours ago

    If the tax bracket for no taxes is $10k, you don’t get taxed if make under that.

    If the tax bracket for 5% is $10-20k, and you made $15k, the first $10k is not taxed, but the $5k is taxed at %5.

    So you would never make $0 after taxes, even if you made it into the hypothetical 100% tax bracket.

    • KillingTimeItself@lemmy.dbzer0.comEnglish
      2·
      23 hours ago

      yeah, with how tax brackets actually work, this should be physically impossible, i’m just pointing out that even if it didn’t it would STILL have to be a pretty substantial increase in tax, that you could easily calculate.

      • Davin@lemmy.world
        1·
        23 hours ago

        Ah yeah. It would take a lot. Even at 90% $100m from a billion is still way more than most of us.