how the U.S. tax system ACTUALLY works #money

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how the U.S. tax system actually works ????

a common misconception about taxes is that you get taxed the entire amount you make at the respective tax rate, but that’s not true! the U.S. runs on a progressive tax system based on marginal tax rates. instead, each chunk of money is taxed at a certain rate and only the next tax bracket gets taxed at a higher rate. at the end of the day, you will still take home more! so, never deny a raise ????

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#taxes #payraise #money #finance #personalfinance #financeforbeginners