MostlyHarmlessMar 2
Show threadKirsty Darbyshire
@MostlyHarmless isn’t this basically what a tax free personal allowance is for? Though I’m not at all sure that the UK’s £12.5k, which feels like it’s been frozen forever, is enough for each person to pay for housing & utilities, but I feel like that’s the concept behind it.
Mar 2 at 8:01amWeb
Show threadPasswordsarehard4Mar 2
@nocto @MostlyHarmless US federal taxes have a standardized deduction which I think works similar. They’d assume you would spend at least $X to stay alive so you can take that without any proof, no receipts or records needed. It brings down your taxable income by whatever amount and you pay tax on what’s left above that amount. It’s a scaling system it’s just a broken one.