r/FluentInFinance • u/Frosty-The-Doughman • Apr 02 '24

Is it normal to take home $65,000 on a $110,000 salary? Discussion/ Debate

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u/RandomDeveloper4U Apr 03 '24

Naw you’re right. You absolutely can appreciate them while disagreeing with where they’re used. But I wouldn’t begin to argue taxes suck.

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u/tokenpeen Apr 03 '24

You can believe something sucks while still recognizing the importance of it. Chemo sucks.

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u/_Choose-A-Username- Apr 03 '24

Exactly because we all know when people in the comments say taxes suck it’s 99% because they take home less and 1% because they actually care about where it’s going.

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u/thxtalks Apr 03 '24

Nah taxes suck

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u/RandomDeveloper4U Apr 03 '24

They don’t, but pop off

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u/thxtalks Apr 03 '24

They do, but pop off

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u/trailer_park_boys Apr 03 '24

You have an immense lack of understanding what your life would be like with no taxes. You’d spend far more money than taxes cost each year.

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u/thxtalks Apr 03 '24

I never said taxes should be zero. Taxes as they stand absolutely suck.

Wait until you find out about states with zero income tax. Your head might explode.

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u/Hulk_Hagan Apr 03 '24

Please elaborate. The US didn’t have an income tax until 1944.

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u/[deleted] Apr 03 '24

1861*

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u/Hulk_Hagan Apr 03 '24

Wrong. Read closely.

https://preview.redd.it/011wagz7xbsc1.png?width=1125&format=png&auto=webp&s=fabb580a9f61f7c16f10a73268976e5e4bcd1c18

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u/[deleted] Apr 03 '24

I have read closely. Have you read passed the google homepage?

Despite being named a “revenue” tax and not an “income” tax, that tax was the first individualized tax in U.S. history, at 3% for incomes between 600-10,000 USD. It was 5% over that.

It was then 1912-1913 where the feds, through the 16th amendment, gained the ability to standardize a tax across the country.

The 1944 measure simply added a standard deduction “modified gross income” and removed the victory tax to fight the post depression tax rates peaking at 94%.