How U.S. Taxes ACTUALLY Work! Explained.

How Taxes Actually Work in the US. #shorts

►

📲FOLLOW ME AND MY FRIENDS:

PS: I am not a Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for.

[Danymok]

The boss should have said "you work in a bank, how do you not know this, no more raise for you"

[StevenAcunaBG]

"wait, you are our lead accountant. How do you not know this?"

[takumifujiwara]

“So can I still take that raise boss?”

“Haha, no”

[Hannahbenowitz]

I've lived in America and Canada. Paid about the same in taxes but get way more for my taxes in Canada. Most Americans hate the government (hate giving them their money even more) because they've never experienced good governance.

[among-us-]

A boss refusing an opportunity to not give someone a raise. Unrealistic

[snekky]

In a realistic scenario the boss would've just accepted his logic and not given a raise.

[abdullahsfarini]

“Yes, but now you’re fired because you should know this”

[memerightsactivist]

“Actually, I ran the numbers on this… and it actually makes more financial sense to *gain* money…” -Oscar Martinez

[bradlucass]

Increasing tax rates are the reason I rolled over my 401k to a Roth. I don’t want to be 59 paying taxes on current income on withdrawals made from my retirement account.

[trainknut]

"So when do I get that raise?"
"Sorry you said no, I gave it to myself while we were talking"

[WizDaPenguin]

If you didn’t understand the explanation, think of it like this:
If you make $40, 526 a year, then $40, 525 of it would still be taxed at 12%. Only the dollar in the next bracket would be taxed at 22%

Edit: Clarity

[oscar.esteves]

"I'll pass"

"Ok buddy"

[alksi]

I thought for a good +20 years that if i go over a dollar, i start to pay double the taxes over all my salary.

[jasonh]

38k a year is 18.27 an hour. The raise is 69 cents an hour.

[SSkeleton]

"We hired you as accountant. You are fired"
The ending we deservedly

[SummerSiren-lmij]

Whenever I try to explain this to somebody in a debate, they can't make sense of it because I could never put it into proper words. You made it sounds so simple, good job!

[letsgets]

I like when I hear "the more you make they take."
Yeah, but you still make more.

[musclegeek]

I’ve tried to explain this to my father like 20 times

[scarpfish]

I just love these shorts videos about conversations that would never happen in real life.

[Matthew-liwe]

I literally have felt the urge to beat people who warn me about "don't go into the next bracket!"