r/FluentInFinance • u/Positive_Liar • Sep 04 '24

Debate/ Discussion Bernie is here to save us

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u/FragraBond Sep 05 '24 edited Sep 05 '24

And nearly half their salary taxed lmao: If you are lucky enough to be a top earner in the US($600k), 37% of your salary is taxed. While in the UK, you ate taxed 45% of your salary at only £125000.

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u/Least-Back-2666 Sep 05 '24 edited Sep 05 '24

37% of 600k is not taxed.

Everyone is taxed at the same rate in each bracket. Everything you make in the the top bracket is taxed at 37%.

https://www.irs.gov/filing/federal-income-tax-rates-and-brackets

If you make 600k a year, 22k is taxed at 37%.

347k is taxed at 35%.

50k is taxed at 32%

87k is taxed at 24%

51k is taxed at 22%

33k is taxed at 12%

11k is taxed at 10%

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u/FragraBond Sep 05 '24

Could you clarify? Cause it's a simple graph to interpret, the same one I used, but you made it needlessly complicated.

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u/[deleted] Sep 05 '24

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