[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 43 KB, 550x482, mbrl.jpg [View same] [iqdb] [saucenao] [google]
51615605 No.51615605 [Reply] [Original]

I got a raise and now I have to pay more tax so I earn around 20% less than I did before but have to work 4 hours more a week.

>> No.51615623

>>51615605
>Has no idea how taxes work

>> No.51615643

Congrats :) i hope those taxes help feed Abdi's five kids in Rågsved.

>> No.51615758

>>51615605
Assuming it is true and the people that designed the tax system in your country fucked up so badly, why would your employer just flush money down the toilet like that?

>> No.51615784

>>51615605
>HHUUURRR HOW DO GRADUATED TAXES WORK DUUUURRR
I saged you little NIIGGEERRRR

you stupid FAGGOT

>> No.51615811

>>51615623
/thread

>> No.51615864

>>51615623

This, OP's certainly larping if he lives in the US. I can't speak to what retarded tax laws they might have in other countries, though.

>> No.51615875

>>51615758

It's because of bracket creep. It happened to me a few years ago too. When I got a raise I crept (barely) into the next tax bracket so I was getting taxed more overall and my salary increase didn't offset the tax..

>> No.51615881

>>51615784
I am a mason since I'm 17, without me you will all have to live on the streets like homeless people, no matter how much money you have. Oh no, wait, you can't even live on the streets because there will be no more streets. What are you going to do? Live inside your paper with some numbers printed on it?

>>51615864
I'm German

>> No.51615905

>>51615875
Honk honk

>> No.51615931
File: 2 KB, 125x105, 1631806866299s.jpg [View same] [iqdb] [saucenao] [google]
51615931

>>51615875

>> No.51615964
File: 255 KB, 991x672, fpi.jpg [View same] [iqdb] [saucenao] [google]
51615964

>>51615931
He's right, it really is like that.

>> No.51615980

>>51615881
You do know it's a tiered system? right? You're not earning less

>> No.51615989

>>51615623
>>51615811
>>51615864
>what are tax deduction/credit phase out limits

>> No.51615994

>>51615875

You get taxed at the same rate you always did in all the lower brackets. Only your income earned above the new bracket is taxed at the marginal rate. i.e. if you got a raise from $160k to $170k/year, you would still be paying the same taxes you always did on the income below $164,925 based on the latest rates. Then it's only the income above that ($5075) that would be taxed at 24%. The rest would be taxed at between 10-22% depending on the bracket the income fell in.

But like I said, who knows what retarded shit they're doing in Germany which is apparently where OP is from. I know how much Europe loves to tax their citizens, Sweden is after all the country that can lay claim to the 102% marginal tax rate (yes that's right, if you made $100k in income, you actually owed the government $102k in taxes, because fuck you, that's why).

>> No.51616045

>>51615994
While true about marginal income taxes, there are gradual phaseout income cutoffs for various deductions and credits. If you make even $1 over those limits, your take home total can be less due to losing more in gov tax subsidies. Examples such as Earned income tax credit and savers' credit for retirement contributions. BS to keep people poor I know.

Who knows wtf they do in Germanistan though.

>> No.51616094

>>51616045

You're right, but the other anon didn't mention anything about credits/deductions, the implication was getting bumped up to a higher bracket offset his income. ie. making $160k taxed @ 22% = $35.2k in taxes, got a raise and now I'm making $165k taxed @ 24% = $39.6k in taxes = my raise was almost completely offset by a higher tax bracket. Which isn't how the progressive tax rate in the US even works. Our tax laws are retarded to be sure, but not quite that retarded.

>> No.51616208

>>51616094
If I get 300 euros more salary, I have to pay more than 300 euros extra in taxes. So it's not worth to get an increase.

>> No.51616331

>>51615623
taxes and fees have me so fucking paranoid that I had to use vinu as a safe option, I'm entering the darkest stage of my life

>> No.51616558

>>51616208
Prove it:
https://www.brutto-netto-rechner.info/gehalt/gross_net_calculator_germany.php

>> No.51616597

>>51616558
>Tell me you've never worked a single day in your life without telling me you never worked a single day in your life

>> No.51616804

>>51616597
yea didn't think so

>> No.51616973
File: 92 KB, 474x541, th-1214500391.jpg [View same] [iqdb] [saucenao] [google]
51616973

>>51616804
>posting a random online_link_calculator.jew
people like you will get the rope first.

Post how they calculate it and maybe i will take a look at it.