return2ozma@lemmy.world to News@lemmy.world · 5 months agoPoll: More than 60% of middle class say they’re ‘struggling financially’ and are not expecting things to turn around for the rest of their liveswww.thehill.comexternal-linkmessage-square12fedilinkarrow-up10arrow-down10cross-posted to: aboringdystopia@lemmy.world
arrow-up10arrow-down1external-linkPoll: More than 60% of middle class say they’re ‘struggling financially’ and are not expecting things to turn around for the rest of their liveswww.thehill.comreturn2ozma@lemmy.world to News@lemmy.world · 5 months agomessage-square12fedilinkcross-posted to: aboringdystopia@lemmy.world
minus-squareSpaceNoodle@lemmy.worldlinkfedilinkarrow-up0·edit-25 months agoAfter the first $1MM. Ten million dollars in a single year would set me, and likely just about anyone else, up comfortably for life twice over.
minus-square24_at_the_withers@lemmy.worldlinkfedilinkarrow-up0·5 months agoBut 90% tax means that $10MM becomes $1MM.
minus-squareFlying Squid@lemmy.worldlinkfedilinkarrow-up0arrow-down1·5 months agoWhy does anyone need more than $10 million?
minus-squareSpaceNoodle@lemmy.worldlinkfedilinkarrow-up0arrow-down1·5 months agoYou appear to have missed the word “after.”
minus-squareBassman1805@lemmy.worldlinkfedilinkarrow-up0arrow-down1·5 months agoProgressive tax brackets. This hypothetical tax is only on money earned over 10M/1M.
minus-squareSupahRevs@lemmy.worldlinkfedilinkarrow-up0arrow-down1·5 months agoNot in our current tax bracket world.
After the first $1MM. Ten million dollars in a single year would set me, and likely just about anyone else, up comfortably for life twice over.
But 90% tax means that $10MM becomes $1MM.
Why does anyone need more than $10 million?
You appear to have missed the word “after.”
Progressive tax brackets. This hypothetical tax is only on money earned over 10M/1M.
Not in our current tax bracket world.