@VeroniqueB99 isnt 2% of $1.1M $22,000? It's early and I'm tired. (The original point of the post still stands though.)

Edit: I, an idiot, can't read. The 2% is on the amount above $1M. So it's 2% of $100K. Sorry about that, all, and thank you folks who pointed that out!

@quadrivial
No it’s korrekt. 2% of 100k is 2k. That’s the difference between 1,1M and 1M. πŸ˜ƒ
@VeroniqueB99
@alchemist @VeroniqueB99 Yeah. Just updated my post to reflect my lack of reading comprehension πŸ™ƒ
@quadrivial I was just thinking...
I'd not have you as my tax consultant ;-)))
@hindsight this is why someone else does our taxes 🀣
@quadrivial I'm glad you got there first , I was thinking the same way and would have said the same til i saw you edit
@OliverNoble I've already been told I'd be a bad tax advisor, which I fortunately knew already 🀣
@VeroniqueB99 20% would be better. And 80% of everything over $10 million.
@johnrohde @VeroniqueB99 Nah. 95%. Maybe 99%. Nail them to the wall.
@VeroniqueB99 But isn't paying taxes something the poor and middle class do?
@VeroniqueB99 that 2% would be $22,000 dollars not $2,000
for a 1.1 million it still isn’t that much but let’s get it right.
quadrivial πŸ’›πŸ‡ΊπŸ‡¦πŸ‡¨πŸ‡¦πŸ‡²πŸ‡½ (@[email protected])

@[email protected] isnt 2% of $1.1M $22,000? It's early and I'm tired. (The original point of the post still stands though.) Edit: I, an idiot, can't read. The 2% is on the amount above $1M. So it's 2% of $100K. Sorry about that, all, and thank you folks who pointed that out!

beige.party
@axx @VeroniqueB99 yes it is. I got ya. Misread/ thanks!
@sergiodomeyko @VeroniqueB99 Nope, it’s income Β« above 1m Β», so 2% of 100k :)
@sergiodomeyko no, the first million is explicitly excluded. The 2% applies only to the $100,000 over that first million. For $2.1 million it would be $22,000.
@VeroniqueB99
@VeroniqueB99 If you "earn" 1.1 million per year, that works out to around $3k per day on average. That's a pretty good deal compared to pitchforks.
@crouton πŸ‘ ...it's pocket change.

@VeroniqueB99 #alt4you Tweet from Melanie D'Arrigo @darrigomelanie "Zohran Mamdani's plan to tax the rich is a 2% tax on income over $1 million.

If you make $1.1 million, you'd pay an extra $2,000.

Watching working class conservatives and politicians completely meltdown about this is wild."

Transcriber's note: this is a progressive tax, so it applies to income only AFTER the first million a taxpayer makes each year, to which the new tax does not apply. The math given is correct.

@VeroniqueB99
Alt text:
Melanie Dβ€˜Arrigo @DarrigoMelanie

Zohran Mamdani's plan to tax the rich is a 2% tax on income over $1 million.

If you make $1.1 million, you'd pay an extra $2,000.

Watching working class conservatives and politicians completely meltdown about this is wild.

@VeroniqueB99 My experience of the last 40 years or so is that so-called 'conservatives' are essentially pro or not. The pros know the truth, and their job is to sell the lie. Everyone else (most of them) simply doesn't know better, and is easily convinced of the lies. They THINK they're conservatives, but they're mostly not; they're what an early teacher of mine called 'reactionaries'. They just react to whatever they're told, and they're programmed to. They're almost mindless about it.
@wesdym πŸ’― πŸ‘ accurate.