this post was submitted on 17 Nov 2024
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[โ€“] pez 6 points 1 month ago (1 children)

The higher rate gets charged only on the portion above the threshold. So with those rates someone earning 192k pays ($191k * .24) + ($1k * .32) = $46,100 not ($192k * .32) = $61,400.

Where you can be worse off earning more is if it puts you over a threshold for some social services (food stamps for example) with a hard cutoff rather than progressively lower benefits.

[โ€“] [email protected] 1 points 1 month ago

Thank you for explaining!