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How Trump or Harris tax plans might change your income (slrpnk.net)

submitted 2 weeks ago by ByteOnBikes to c/usa@midwest.social

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Source https://www.barrons.com/articles/trump-harris-tax-rates-plans-cuts-income-e8db90ee

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[–] 5oap10116@lemmy.world 6 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

It's funny because Americans have been radicalized against taxes saying its wage theft and taking away all their earnings..., but historically, when taxes increase, firms have an incentive to pay their workers more so wages generally increase with tax increases. You're pecking at the reason why tit works that way. It's arguably counter intuitive but that's why the propaganda against higher taxes works so well.

[–] explodicle@sh.itjust.works 1 points 2 weeks ago (1 children)

Taxes on wages are theft because you created your labor. Taxes on property and pollution aren't theft because nobody created the earth. The rich have successfully conflated them all as just taxes, and most of us have no idea how tax incidence works.

You're pecking at the reason why tit works that way.

[–] 5oap10116@lemmy.world 2 points 2 weeks ago

Check out my perky natural pair