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In America the tax rate is higher? People are reacting like this is a lot haven’t seen a paycheck in the US in there lifetime. US is maybe 5% lower under some c
by Me000 2y ago
In America the tax rate is higher? People are reacting like this is a lot haven’t seen a paycheck in the US in there lifetime. US is maybe 5% lower under some circumstances. I thought fake outrage was banned here?
- deleted 2y ago[deleted]
- ativzzz 2y agoNot even close, the marginal federal tax rate is 12% for income between $11k and $44k [0]. This doesn't take into account state/property taxes, but it's nowhere near [0]https://www.irs.gov/filing/federal-income-tax-rates-and-brackets https://www.irs.gov/filing/federal-income-tax-rates-and-brac...
- codezero 2y agoMost people working in tech are making much more than that as are anyone considering moving to Portugal for a tax break. It’s a lot closer to 24-32% for that demographic.
- lostmsu 2y agoBoth calculations should include VAT btw
- s1artibartfast 2y agoyou have to adjust for median income and PPP. also, state taxes are often substantial.
- wil421 2y agoAt the levels OP described I’d be at 17% federal and state taxes rate. I’m at about 42% with state and federal but you need to add and zero and double the amounts to get close to our household income. Not sure if Portugal uses marginal tax rates or not.
- ramses0 2y agoPlus mandatory insurance (minimally: health, arguably: car due to extremely poor public transit)
- deleted 2y ago[deleted]