OpenResearch Unconditional Cash Study's first findings available

Re:OpenResearch Unconditional Cash Study's first findings av... by circlefavshape on Tuesday July 23, 2024 @06:26AM (#41044517)

Wow! It's amazing how anti-tax Americans are when their taxes are so low!

My income is at the 24% level above, and I'm paying 52% marginal taxes in Ireland (or 35% of my total income after tax credits etc)

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Re:OpenResearch Unconditional Cash Study's first findings av... by iainmerrick on Tuesday July 23, 2024 @08:02AM (#41045084)

I believe those are just the federal tax rates. In the US you pay both federal and state taxes, so it depends a lot on which state you live in.

Their taxes probably are lower than yours, but probably not by as much as you think, and certain things like medical insurance are really expensive in the US.

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Re:OpenResearch Unconditional Cash Study's first findings av... by samatman on Tuesday July 23, 2024 @02:23PM (#41049182)

American taxes are low because Americans are anti-tax. That's not amazing, it's democracy.

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Re:OpenResearch Unconditional Cash Study's first findings av... by throwaway2037 on Wednesday July 24, 2024 @01:47AM (#41053958)

Who cares about marginal tax rates -- that is the rate you pay on your last one Euro of income. What really matters is effective (blended) rate.

In the US, there are normally two levels of income tax (Federal and State), and, rarely, there is also a local/city income tax (like New York City). Sorry, I am not familiar with the Irish income tax system. Since you mentioned that you are in the 24% bucket, your gross income is more than 100K USD. (Congrats: That is pretty high in Ireland where the median income is about 38K EUR.) If you add up all income taxes in the US (Federal + State + Payroll), I guess it is pretty close to your 35% effective rate in Ireland. So really, not so different.

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