You’re only charged the higher rate on the income within that bracket. Imagine the hypothetical marginal tax rate is 10% for 0-50k and 15% for 51k-100k. If you make 45k you are paying 4.5k in taxes and take home 40.5k. If you get a pay rIse to 60k, you pay 10% of all of your income that is in the 0-50k bracket, and 15% on the income within the 50k-100k bracket. So, you’ll pay 5k (10% of 50k) + 1.5k (15% of the 10k that is in the higher marginal tax bracket) for a total tax of 6.5k and take home of 53.5k.
Always take the raise.
Edit: didn’t closely read the OP. Take the raise if it comes with a better title and your $/hour doesn’t go down.
Ask your company to purchase a company vehicle (get magnet decals, not paint), and arrange so that you effectively own it except on paper. If you ever leave said company arrange to buy it. It has to weigh a lot, so I hope you like trucks.
Find a large sturdy tree limb and neck yourself for being a retard. Tax rates are progressive theft. What that means is you dont get taxed at a particular rate for your entire income but each portion of income. As a rough example imagine a country where you earned 100,000. The first 30k is taxed at 10%, then the next 30k is taxed at 20%, then the next, 30k is taxed at 30%. So 3k + 6k + 9k or 18k/90k for an effective rate of 20% on a 90k salary.
I don't know how the tax works in the United States but in Canada people talk like this all the time and they're incorrect.
Don't get me wrong we are over taxed and our tax dollars are going to all the wrong places but here's how it works.
Say you make 65,000 a year.
You are not in one tax bracket. You are in all the tax brackets. Your first $20,000 is in tax bracket A. Your next $20,000 is in tax bracket B, the next $20,000 is in tax bracket C. And your $5000 is in tax bracket D.
Not sure if that's how your tax code works but it's a pretty common method of scaling tax with salary. So it's always better to make more money.
[ + ] ReturnOfTheGoats
[ - ] ReturnOfTheGoats 6 points 8 monthsFeb 5, 2024 02:17:44 ago (+6/-0)*
Always take the raise.
Edit: didn’t closely read the OP. Take the raise if it comes with a better title and your $/hour doesn’t go down.
[ + ] Sector2
[ - ] Sector2 3 points 8 monthsFeb 5, 2024 00:58:52 ago (+3/-0)
[ + ] observation1
[ - ] observation1 3 points 8 monthsFeb 5, 2024 00:24:32 ago (+3/-0)
Move back to Idaho on paper. Your company can hire out of state.
[ + ] observation1
[ - ] observation1 3 points 8 monthsFeb 5, 2024 00:23:17 ago (+3/-0)
[ + ] Moravian
[ - ] Moravian 3 points 8 monthsFeb 4, 2024 23:58:39 ago (+3/-0)
[ + ] Hobama
[ - ] Hobama 2 points 8 monthsFeb 5, 2024 04:50:28 ago (+2/-0)
[ + ] Deleted
[ - ] deleted 0 points 8 monthsFeb 5, 2024 08:59:48 ago (+0/-0)
[ + ] GeorgeBailey
[ - ] GeorgeBailey 2 points 8 monthsFeb 5, 2024 04:43:06 ago (+2/-0)
Don't get me wrong we are over taxed and our tax dollars are going to all the wrong places but here's how it works.
Say you make 65,000 a year.
You are not in one tax bracket. You are in all the tax brackets. Your first $20,000 is in tax bracket A. Your next $20,000 is in tax bracket B, the next $20,000 is in tax bracket C. And your $5000 is in tax bracket D.
Not sure if that's how your tax code works but it's a pretty common method of scaling tax with salary. So it's always better to make more money.
[ + ] Hobama
[ - ] Hobama 0 points 8 monthsFeb 5, 2024 04:51:01 ago (+0/-0)
[ + ] Deleted
[ - ] deleted 0 points 8 monthsFeb 5, 2024 09:00:43 ago (+0/-0)
[ + ] DukeofRaul
[ - ] DukeofRaul 2 points 8 monthsFeb 5, 2024 03:04:09 ago (+2/-0)
[ + ] beece
[ - ] beece 1 point 8 monthsFeb 5, 2024 09:42:38 ago (+1/-0)
[ + ] i_scream_trucks
[ - ] i_scream_trucks 0 points 8 monthsFeb 5, 2024 02:46:33 ago (+0/-0)
"No"
[ + ] UncleDoug
[ - ] UncleDoug 0 points 8 monthsFeb 5, 2024 06:50:37 ago (+0/-0)