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Dave Johnson /
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2023-11-10 16:58:29

Dave Johnson on Nostr: From comments I see people don't understand how taxes work. If a top tax rate is 90% ...

From comments I see people don't understand how taxes work.

If a top tax rate is 90% on 1 million dollars or pounds, you do not pay 90% on the entire million dollars or pounds, only on dollars or pounds you make ABOVE that million.

So if you make a million pus one, your tax is 90 cents or pence. NOT 900,000 dollars or pounds.

Also if you are a hedge fund manager who makes 1 billion a year, you "only" get to keep 100 million. That makes me so sad. The entire world weeps for you.

#taxes
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