Re:Why Don't Tech Companies Pay Their Engineers to Stay?
by GianFabien on Friday September 06, 2024 @04:09AM
(#41464038)
Typically with a higher income you taxation rate increases even more. So 50% more salary might only end up being 20% more in your hand.
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Re:Why Don't Tech Companies Pay Their Engineers to Stay?
by throwaway2037 on Friday September 06, 2024 @04:53AM
(#41464259)
> So 50% more salary might only end up being 20% more in your hand.
Re:Why Don't Tech Companies Pay Their Engineers to Stay?
by consteval on Friday September 06, 2024 @01:28PM
(#41468046)
Even under a progressive tax things don't work the way conservative fiscal armchair economists would like to have you believe.
Poor people still, comparatively, spend more of their income to taxes. That's because poor people have to spend more of their income on direct consumption, i.e. not investment.
If I'm poor I'm easily spending 90% of all my money on stuff for me, right now. If I'm rich that drops to 10%, and the rest goes towards stuff that isn't taxed.
So, while income tax may favor the poor, sales tax very obviously favors the rich. The only reason a progressive tax exists is because rich people are so powerfully favored in modern tax systems, we need to try to bring them back in line to the burden poorer people face. Even still, poor people face more burden.