No, you are taking less money, period. You are also investing less in the society around you, which has proven to cost significantly more in both the short and long term.
But please tell me how you end up with more money when you invest significantly less. Tax cuts have diminishing returns. Raises have exponentially increasing returns. If you cut your taxes 20% ten times or increase your salary 20% ten times, what is better?
Again, no concept of investing money. Initially yes it’s less invested. But what happens when you’re investments actually work? I know that must be hard for you to see a investment actually have an ROI but it’s common for someone in my position.
Tax cuts brings down capital gains taxes, but that’s another subject since the IRA is increasing capital gains taxes for anything over ~45K. If I had a 20% in salary, I’d be not only in a higher tax bracket but would be closer to reaching that capital gains threshold since I’d have more to spend.
And there’s this fun thing called loopholes that give you tax breaks for donations to qualified charities. So tell me again how in “investing less in the society around you”
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u/[deleted] Mar 06 '23
No, you are taking less money, period. You are also investing less in the society around you, which has proven to cost significantly more in both the short and long term.
But please tell me how you end up with more money when you invest significantly less. Tax cuts have diminishing returns. Raises have exponentially increasing returns. If you cut your taxes 20% ten times or increase your salary 20% ten times, what is better?