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

submitted 5 months ago by [email protected] to c/[email protected]

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[–] RememberTheApollo_ 1 points 5 months ago

There are some very specific triggers to end up paying more tax than you earned - and some of those triggers are not wages (in the US). Also, those triggers are not recurring, they’re usually caused by selling capital like a home or stocks, or maxing out certain write offs, so once the extra income has been taxed you won’t see it again unless you repeat the tiggers again.

Straight up getting a raise with no other confounding factors should not cause your taxes to increase beyond your wage as the typical rule applies - you only get taxed on the wages that fall into the new tax bracket, not on all of your wages, which will still fall into their normal brackets.