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"Getting paid more money is for fools"
(lemmy.ml)
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this post was submitted on 20 Jun 2024
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Exactly, or that's how it was explained to me. Say you get a 10k raise from 94k to 104k and the next bracket is at 100k. If your old percent was 20% and the 100k bracket is 25% only the "extra" 4k would be taxed at 25% and the 6k before that would be 20%.
Or so I've been told by smarter people than me. Numbers/ brackets and percentages are all made up to make it easier.
Midwest, US if it matters.