Current Events > They should have a negative tax bracket

(+) Yeah! (+)

So like, up to a certain income you get extra money instead of paying taxes.

This is a joke thread but if you're determined to take it seriously, I can't stop you.

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I mean, if you're married you don't pay federal income tax if you make less than $27,700(standard deduction for 2023) if you're filling jointly.

...isn't that literally what an income tax return is?

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You get tax forgiveness in most states if you only make that much.

Edit - income tax forgiveness

I don't know the exact numbers but I have a good friend who does in home daycare for years now but she only makes about 15 or 20K a year and she gets virtually all of her income taxes back every year.

archizzy posted...

I don't know the exact numbers but I have a good friend who does in home daycare for years now but she only makes about 15 or 20K a year and she gets virtually all of her income taxes back every year.

25-30k... not saying it's good and all but it's better than ending up in the street without a home.

but with this amount there's a small amount of federal that comes back every year.

i turned down a raise at work because i don't want to be taxed more

Xenogears15 posted...

...isn't that literally what an income tax return is?

No, a tax return is a self-audit of the taxes you've already paid and the accompanying adjustment.

If you get a tax refund all that means is you did your withholding form wrong and you paid more than you actually owed in paycheck withholding.

AlephZero posted...

i turned down a raise at work because i don't want to be taxed more

Haha, I remember that recent topic.

There basically is if you consider the value of services provided to you by the government.

Nobody should not have enough to survive as long as their are others who have enough to feed an entire nation. - Me

They should have a opt out of taxes bracket but you can't use the roads, school systems, or government facilities.

Isn't this just welfare which we already have?

It's not a bad idea to help low income earners out a bit. Of course, it'll never actually happen.

it's called "unearned income credit" and it's already a thing.

Dakimakura posted...

They should have a opt out of taxes bracket but you can't use the roads, school systems, or government facilities.

And people can pollute on you as much as they want!

That's called negative income tax.

https://en.wikipedia.org/wiki/Negative_income_tax

Honestly taxes really need a massive overhaul given some of the shit that can happen.