this post was submitted on 08 Mar 2025
25 points (100.0% liked)
Hacker News
836 readers
549 users here now
Posts from the RSS Feed of HackerNews.
The feed sometimes contains ads and posts that have been removed by the mod team at HN.
founded 5 months ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Wait, what? $65,000/yr but $680/wk take-home? That implies an effective tax rate of 46%*... Are taxes in America really that high?
*46% not 54%
Only for the middle class. The poor have deductions/credits that offset most taxes. While the rich have beneficial tax rates for their main source of income (i.e. captial tax rates), caps on some taxes (i.e. incomes above $176k no longer pay any social security taxes), and the old fashion it just so much easier to cheat on taxes when you rich.