How tax brackets actually work

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  • Published on:  Friday, January 18, 2019
  • There is a common misunderstanding about how tax brackets work in the US, and it’s causing us to have uninformed debates about taxes.

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    Watch our video on Alexandria Ocasio-Cortez's 70% tax plan here: https://www.thclips.net/video/bWRO-M47eCY/video.html

    Check out the podcast on this topic from Today Explained: https://bit.ly/2VEoEIC

    The TEx crew took a deep dive into Representative Alexandria Ocasio-Cortez's proposal for a marginal tax rate of 70% for top earners in America. A lot of people are upset, and even more have no idea how it works.

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    When Rep. Alexandria Ocasio-Cortez proposed a 70 percent top income tax rate, many conservatives started saying Democrats wants to take away 70 percent of Americans’ hard-earned money. This is not only wrong, but it takes advantage of something Americans have long misunderstood: tax brackets. It’s time to fix that with a simple, paper-made video.

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  • Source: https://youtu.be/VJhsjUPDulw
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Comment

  • Vox

    Vox

     7 months ago +49

    We've made a follow-up to this video, that examines the reasoning and debate around a 70% marginal tax rate: https://youtu.be/bWRO-M47eCY

  • The_Ghost_750

    The_Ghost_750

     2 days ago

    no they still want to take away 70% of whatever you would have made past 10 million. nice try at lying tho (and thats according to one of your own articles)

  • jesse aulabaugh

    jesse aulabaugh

     7 days ago

    Correct me if I'm wrong but haven't numerous polatitons proposed a 70% top bracket starting at a million dollars? If so a 11 million dollar income would be taxed at roughly 70%. So yes if u are rich they do want to take 70% of your income.

  • Ritz Kola

    Ritz Kola

     7 days ago

    The Human Brain is a wonder. My entire life mines has been. When this video first came out I just didn’t get it. I couldn’t understand. Couldn’t comprehend or wrap my mind around it. It was like watching gibberish and being quizzed on aerodynamics. So I gave up and gave myself time. Half a year later I’m finally fully understand the concept and came back to this video just to confirm. And it makes total sense. I always go through this. Somethings I just don’t get so I give up and give myself time. Usually in a week or a few months I’ll understand it to the tee.

  • MsEriKaT

    MsEriKaT

     7 days ago +1

    I'm more confused now

  • jama211

    jama211

     7 days ago

    The fact that this video is necessary is very sad, and says a lot about american schooling.

  • If Adam had Corrected Eve

    If Adam had Corrected Eve

     14 days ago

    Tax EVERYONE 10% across the board.
    It can be a another %., as long it’s uniform across the board.

  • Jordan Finfrock

    Jordan Finfrock

     14 days ago

    As someone who is PTIN certified by the Gov to do taxes, this doesn't make sense. Technically you are saying if someone has 100k then theyre taxed at 24% until 80k then >24% after that. This is like saying 10k of your money is taxed at 10% then the next portion of your income is taxed at 12% then so on and so forth.

  • Leon Kennedy

    Leon Kennedy

     14 days ago

    Sounds like theft with extra steps

  • Derek L

    Derek L

     14 days ago

    😂 "just send them this video" like theft is okay as long as its not stealing from me and the rest of us vote on it.

  • Justin Amazing

    Justin Amazing

     21 days ago

    United States should have a 10/10/10 tax system and people keep asking me what that means:
    What that means is that
    You pay a 10% tax to your city that you live in.
    Then your city pays a 10% tax to the State.
    Then the State pays a 10% tax to the government and doing that would be better living for civilians of the United States and also better wages and more money. Why can’t we do that because that’s what we pay a church is a 10% tithe.

  • Sea

    Sea

     28 days ago +1

    This blew my mind, why dont schools teach this?

  • Thee Apollo

    Thee Apollo

     1 months ago

    ooooooooooohhhhhhhhhh.

  • Cynical Liberal

    Cynical Liberal

     1 months ago

    All taxation is theft regardless until we legalize tax evasion. (Which would make any/all tax payments a consensual transaction)

  • Flower Girl

    Flower Girl

     1 months ago

    I'm adulting

  • Brandon Stennett

    Brandon Stennett

     1 months ago

    Hey ,favor could you guys explain the NO BAIL SWEDEN SITUATION ? would help us ASAP.

  • Kennedy Smith

    Kennedy Smith

     2 months ago

    We need to learn this in school not stuff that happened millions of years ago

  • Brad Taylor

    Brad Taylor

     2 months ago

    If u get pushed into the next bracket and are losing money on ur check just claim a higher exemption number and they will take a few percent less and then ull be see ur raise and ull see that ur taxes are still getting paid. Your welcome.

  • Peter S

    Peter S

     2 months ago

    Because people don't know this, donald trump won the election.

  • Its ASetUp

    Its ASetUp

     2 months ago

    How they work, the more you make, the more they take. It assumes you don’t work 2 or more jobs or over 40 hrs to make extra. How they keep you on the plantation. Working under the table is the only solution.