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"Getting paid more money is for fools" (lemmy.ml)

submitted 5 months ago by Confidant6198@lemmy.ml to c/shitposting@lemmy.ml

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[–] Malgas@beehaw.org 5 points 4 months ago (1 children)

Way too many people don't understand how marginal tax rates work.

[–] suburban_hillbilly@lemmy.ml 5 points 4 months ago

Just went through this with my dad. He got 'right-sized' about a year ago and has been job hunting. He called me (praise jeebus) to ask me for advice about negotiating a slighly lower starting salary because his offer on a new job was about $140 over the line into the next bracket and he didn't want to 'lose' all that extra salary to taxes.

We spent about an hour on a video chat where I ended up pulling up the IRS page about it as well as going line by line through the tax tables so I could show him how it actually works. He was flabbergasted and kept asking how could every single person he knows be wrong about this.