Something to keep in mind is only the income earned AFTER $400,000 would be taxed at a higher rate.

so if you made $406,000 only the last $6,000 would be affected by the rate change

I mean it's not like you're gonna get in trouble in the street just for being not white (I mean you could but it's mostly safe), but it's a lot of "ordinary" daily life, systemic racism issues etc. also we have a big problem with recognizing the colonial past of the country, it's that kind of stuff... And it's getting worse with the years tbh

But also France relies a lot on tourism so they love them and their money lol so I mean definitely go there if you can you'll probably enjoy your time, I still love my country but it's a mess when you live here tbh

but also who tf even makes that much money? that's some real upper echelon s***

Tbh the police is getting racist as s*** in France too so yeah its definitely getting worse, also people who are closeted racists feel more and more comfortable with it

Damn so america but not as bad lol

Yeah kinda but the higher ups taking notes don't worry we'll soon be on your level

Doubt they'll get the tax plan passed and will let Trump's plan expire just like Obama let the Bush plan expire.

Until all the 400k+ move into a better taxed state

It’s a federal tax... In high tax states like CA, this is going to amount to some people paying over 60%.

It really is a step in the right direction.

but i won’t pay a penny less either

i want to pay less taxes not the same!

Right, my ex's parents made like 350k a year between them and they were livin LAVISH.

my old CTO made about $300k, and he worked for a small CPA so i'd imagine it's not too far fetched

Much more than 85 percentile lol that’s more than 99.5th percentile income. But the question you should ask isnt about individuals and how they feel about higher tax rates or really isn’t even about how people of such income live. The question is the large scale economic impact of high vs low tax rates. If you look at the tax cuts of the 20s, 80s, 60s, 2010s they did wonders for the economy and tax REVENUE at large. High marginal tax rates =/= higher tax revenues and that’s been proven time and time again

This is a very dumb take lmao. 400k a year is a bit more than a 1% salary. Meaning a bit less than 1% of American income earners make that kind of money. There is about 160 million Americans in the workforce so that means a bit more than a million Americans make that much or more.

Also depends where you’re from. That’s not a rare salary at all in my town + many NJ towns, but in other parts of the country the average person barely makes that after 10 years.

That won’t happen. But they will put their money in tax exempt securities and use other accounting gimmicks to reduce their effective tax rate. Don’t let high tax rates fool you, that’s just a way for politicians to get votes. They know it won’t raise tax revenue

Wtf why? Trump literally had taxes increasing for you in 2021.. that's how he decided to frame it. The level he lowered it at is unsustainable and his administration even knew it

That’s a husband and wife who are both doctors and that’s just salary alone

400k not that unreasonable. Wait until you find out what percentage of the American population are millionaires

(birdman voice)

it dont matter to a rich nigga (go figure)
no pun getting money is a lifestyle
all these lame niggas broke irl
social media clowns hashtagging
ya b**** follow justin laboy
she think she know everything in life
lame ass niggas
rich forever! brrrrrrrrrrrr

Don’t worry, all you broke bois will be just fine

Isn't there loopholes to this though?

Right, cuz black people can't be prosecutors...

3% of the US being millionaires isn't too crazy. The problem is those millionaires are wayyyy closer to us than they are the Bezos' of the world, yet the uber wealthy get these millionaires and multi millionaires to fight their battles for them. The wealthiest 300 Americans have as much wealth as the bottom 60% of America , and they are the issue, not the average random millionaire.

Idiot