How tax brackets actually work Why It's Almost Impossible to Ride 1 day ago   02:48

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Vox
Vox
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://ufl.ae/videow/rMHE-C47uSO

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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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Comments 3314 Comments

Vox
We've made a follow-up to this video, that examines the reasoning and debate around a 70% marginal tax rate: https://ufl.ae/videow/rMHE-C47uSO
Frank Troiso
You tried to make an explanatory video and made it partisan for no reason
Nicholas Hall
The point is any tax is too much tax. I understand the government has certain functions to fill and you need to fund this, I can understand that. Anything more than base esentialls is just stealing. Molon labe. The revolutionary war was fought over a 3% commodities tax.
SamjrMusic
What is the cap and who decides the cap on every pocket?
Spencer Cooper-Thorn
Is this American taxes I’m assuming , not uk?
Katrina Millings
If you didn't already know this you're an idiot.
Tyrone Rodgers
Guess what! We already understand how it works. And no matter how you slice it, it's still our money. Now go further and explain how the top earners are paying the bulk of the tax bill while being told we should pay our fair share.
Steven s
So you mean if you have a 90% tax on people who make over $120k/yr they will still work once they get to that bracket so they can keep 10% of there money? I guess this is why Bernie and his communist base are totally clueless. NO the people will stop working once they reach that bracket.
Jesse Block
What if you actually understand this and still disagree with raising the marginal tax rate?!?
Bleu B.
A bit confused, why am I only paying 10% on that first %9.7k? Why is the amount 9.7k? Does it vary from person to person or are these always the set numbers for everyone here in america? (also can I have an answer for the next subsequent tax "pockets" as well?)
A.C. Mitchell
Thanks for breaking this down! I really did think that all of that 84,000 would be taxed at 22% #TheMoreYouKnow!
Adam Skott
Interesting. Because the very first paycheck all the way to the last which I see everywhere. Is taxes at 23%
Aaron Hartmann
If you leave out the promotion and use the $84000 as base.
$70,000 after deductions
$970
$3,573
$6,715.50
=$11,258.50

$11,258.50 is about 16.08% of $70,000.
So, yeah like the video says about the 22% is correct.
algon44
Horrible video explanation, I can just imagine how many people watched and now think they know tax law, brackets.
Sugar
It really is sad that Vox along with other dems have to resort to “you don’t know how taxes work” if you have any sort of objection to tax increases regardless of the amount.
Its ASetUp
How they actually work: I see my tax bracket, now I am on a mission to get out of the rat race as soon as possible. More you make the more they take. If $ = time, time = $. I’m tired of having my life redistributed.
quantass
Funny there are 2K down votes. Let me guess, Conservatives. Sheesh.
Paulie Wallnuts
Still sucks
David
Good explanation, but a little bit of an oversimplification. As incomes go up, your effective tax rate approaches your marginal tax rate, just because the lower brackets don't mean much anymore. So a 70% marginal tax rate on people earning in the millions turns out to be a 70% effective rate.
Marcos Santana
Thank you
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Why It's Almost Impossible to Ride How tax brackets actually work 1 day ago   18:07

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The hour record for cycling is very simple. It's just one rider going as far as possible for one hour. WIRED's Robbie Gonzalez explores the physical power needed to push for 60 minutes and the equipment and track choices that can make or break the record.

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