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Published on #FITSO Motivation

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What each house represents in astrology

Let’s Talk About Tax Brackets

Since some people (read: conservatives) are freaking out over the idea of TaXiNg RiCh PeOpLe, let’s talk about tax brackets.

Currently, we have seven tax brackets in the US, at rates between 10% and 37%. All income over $500,000 – whether that’s $500,001 or $1 billion – is taxed, at most, at 37%. What Alexandria Ocasio-Cortez has proposed is increasing the tax bracket so that people who are very rich and making millions of dollars a year would pay a higher tax bracket (70%).

The response is, basically, “But what if I suddenly get ten million dollars? Then I’ll have to pay 70% of my millions! That’ll make me worse off than if I merely had nine million!”

This comes up in shit around taxes a lot (”Don’t get a raise, you’ll have a higher tax bracket!”), so let’s address this using simple math.

Pretend that tax bracket goes like this: if you make $15 or less, you pay no taxes. If you make $16-30 dollars, they take away 10%. If you make $31-45, they take away 15%. At $46 or more, they take away 20%.

That doesn’t mean that if you make $16, you have that 10% taken from the total income. You don’t get $1.60 taken away from you. You have that 10% taken from every dollar you make over $15. In this case, only $1 is over $15, so only that dollar gets 10% taken out of it (and you lose $0.10). The rest of the money is taxed at the lower rate (which in this case is 0%).

Say that you make $42, so you’re taxed at 15%. So that means that every year, you pay $6.30, right? 

No. You pay:

Nothing on the first $15 (0% of 15 is $0), plus

10% on all the money between $16 and $30 (10% of 15 is $1.50), plus

15% on all the money between $31 and 42 (15% of 12 is $1.80)

So actually you’re only paying $3.30. You have $38.70 left over.

Now you get a raise. You make $50, which pushes you into the next highest tax bracket. Oh, no, that means that they'll take away 20% of your $50, so you’ll have to spend a whole $10!

No. Let’s do the math again.

You pay:

Nothing on the first $15 (0% of 15 is $0), plus

10% on all the money between $16 and $30 (10% of 15 is $1.50), plus

15% on all the money between $31 and $45 (15% of 15 is $2.25), plus

20% on all the money over $45 (20% of $5 is $1)

So actually, you’re only paying $4.75. You have $45.25 left over.

So if there’s a 70% tax bracket on, say, 10 million dollars or more, it doesn’t mean that the second you make 10 million (something that almost no one in this country makes to begin with), you start getting taxed at 70% and they take away 7 million. The first $9,999,999 are still taxed in the lower brackets. They just take away 70 cents from the ten millionth dollar.

Why white people afraid of black people

Lmao he was going off

Winnie Byanyima brought the hammer all the way DOWN!!

“Keeping the internet open is critical for us. It powers social movements, and provides a global platform for people of color, LGBTQ folks and the most marginalized communities to tell their own stories, run their own businesses and route around powerful gatekeepers.”—Candace Clement, Free Press Action Fund Campaign Director via @fight4future​

Starting today, June 11, U.S. internet providers will be legally allowed to censor and block websites and apps, and force you to pay extra fees to to access your favorite places online. Your internet sanctuaries, the communities you are part of, the ones you have help build up, could be decimated.

Will it happen today? No. Next week? Probably not. The changes will not be swift. They will come piece by piece. A slow, tempered death to the free and open internet we love.

It doesn’t have to be this way. You can still make a difference, Tumblr. We need the House of Representatives to sign a discharge petition in support of the Congressional Review Act that would force a vote on the floor.

Contact your reps—let them know you support net neutrality.

It’s so easy. Just go to BattleForTheNet.com, fill out the form, and follow their directions from there.

They have an updated widget for you to throw on your websites to urge others to make a difference. You can put it on your Tumblr. Let your followers know what you stand for, encourage them to do the same. It’s so easy to do. Just copy and paste their small line of code right into the customize theme page on the web.

Go, go, go, go. We know you have that passion in you. We’re fighting right alongside you.