I was reminded today that a huge portion of this country doesn’t understand how marginal tax brackets work
I was reminded today that a huge portion of this country doesn’t understand how marginal tax brackets work
@jdcmedlock My conservative high school civics teacher confidently taught us it worked this way, I thought “that sounds off” and went home and looked it up, learned how it actually works, then the next day tried to bring it up and she got mad at me.
@jdcmedlock That's how it's always been explained to me. I need to look into this.
@jdcmedlock @csilverandgold Benefit cliffs
@jdcmedlock And you do not understand phase outs of tax credits and deductions.
@jdcmedlock @ajlamesa True but in reality that does happen.
@jdcmedlock we need mandatory re-education camps, but just for personal finance
If we have to have federal income tax(which we don't). The tax code should be simplified and every high schooler should have to understand it before they graduate high school. It should be simply enough to understand that you don't need even a high school diploma to get it. You should never need professional help to pay your taxes.