So.. wash your car, got it. Can I have my 2 minutes back now?

It’s not “newer” cars but rather “expensive” cars where these apply.

“fun environment” usually means “we lack any real culture or team work so we compensate and pretend to like each other by hosting a ‘happy hour’ every so often”

Correlation does not mean causation.

I honestly had no idea. Many people have responded with a similar statement. Very troubling indeed.

I’m sorry you feel that way. It would be difficult for me to disagree more. Algebra is a critical and practical skill in almost every field of work whether you realize you use it or not. It also teaches invaluable conceptual problem solving skills. Understanding different rock formations provides valuable context to…

Marginal tax rate has a very specific meaning. Factors like deductions that impact what you actually pay have no bearing on what the marginal tax rates are. As soon as you start factoring other variables, you are no longer talking about marginal tax rates. You are talking about effective tax rates.

I honestly had no idea so many people never learned this. It explains so much.

I’m sorry your school failed you in this regard. I had no idea they don’t teach something so basic and fundamental. Take what you read online with a grain of salt and I’m happy to answer any questions about it.

Many people are replying to my comment with the same note. I find it unbelievable. It’s so basic and important. It could be covered in less than a single class period. I can’t imagine how an economics teacher could skip it.

Did you feel it was a waste because the skills were so remedial or because you don’t use them frequently?

You would think there would be an intellectual curiosity about something that impacts your life so much.

That is frightening. I’m blown away by how many people responded to my comment in a similar way.

What are they teaching in high school economics class if they don’t teach something as basic as how the income tax works? Seriously, I’m honestly asking.

I think PeteRR is genuinely confused about the fundamentals of how a marginal tax system works.

A 90% effective marginal “tax” rate

Only if they don’t understand how a marginal tax system works. Judging by this article’s content, it sounds like most people don’t. That is very concerning since that is something that used to be taught in high school.

Complicated but not ridiculously so. A pure progressive or pure regressive tax system would be greatly simplified but both have serious flaws on the extreme ends of the income spectrum. The US takes a balanced approach which reduces the negatives of each system but makes the whole thing a lot more complicated overall.

Anything above the $37650 in the example would be subject to a higher rate. That would be 10% of the first $92750 = 927.50. Then, 15% of $28,375 =$4256.25. Then, 25% on $350 = $87.50. It ends up $5,271.25, which is an effective tax rate of 13.9% on your adjusted income. Keep in mind that’s $38k adjusted, not gross.…

Same reason why every voice sent over radio in every movie ever made sounds tinny with a little bit of crackle. It’s just a stylistic effect so you can tell it’s not physically there.