How tax brackets actually work Tax LOOPHOLES The Rich Don't Want 2 days ago   02:48

Share
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.

Become a member of the Vox Video Lab! http://bit.ly/video-lab

Watch our video on Alexandria Ocasio-Cortez's 70% tax plan here: https://ufl.ae/videow/rMHE-C47uSO

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.

Subscribe to our channel! http://goo.gl/0bsAjO

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.

Vox.com is a news website that helps you cut through the noise and understand what's really driving the events in the headlines. Check out http://www.vox.com.

Watch our full video catalog: http://goo.gl/IZONyE
Follow Vox on Facebook: http://goo.gl/U2g06o
Or Twitter: http://goo.gl/XFrZ5H
MailFootballSoccer

Comments 3291 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
Thee Apollo
ooooooooooohhhhhhhhhh.
Cynical Liberal
All taxation is theft regardless until we legalize tax evasion. (Which would make any/all tax payments a consensual transaction)
Flower Girl
I'm adulting
Brandon Stennett
Hey ,favor could you guys explain the NO BAIL SWEDEN SITUATION ? would help us ASAP.
Kennedy Smith
We need to learn this in school not stuff that happened millions of years ago
Brad Taylor
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
Because people don't know this, donald trump won the election.
Its ASetUp
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.
Stone Gray Sky
The more you make, the more you keep.
Dost Thou Even Logic Brethren?
You know what else leads to uninformed debates about tax policy? The lies you spread about "tax cuts" to the rich in your videos in which you LIE and claim you can write gambling loss off of your taxes, or that you can write off your mortgages etc. as means to pay less. The sheer stupidity from this channel is the reason it's followers are broke.
Jody Mitoma
Well, I have to say... I appreciate the knowledge dump! I did not know it was progressive like that.
CartelPresent
Still confused. Maybe because im unemployed
siberwolf33
Excellent video all the way until it was made political. Then 👎🏻. God forbid we make a video allowing people to make their own assessments.
邱燕京
Very clear explanation...Thanks for the effort!
Lord Nerdecon
Ugh taxes?! Here is Mexico the national sport is tax evasion XD
Travel Richie
What is Effective tax rate?
Vincent Urquhart
if you are significantly higher than a 70% bracket then close to that will be taxed overall, its riduculus for any 'pocket' too have 70% taken out of it.
still i appreciate you actully informing people of how this works.
Thomas Insall
I wish you'd have shown the power of the IRA deduction or 401k contribution deductions....
Human Being
Taxation is theft
Add Reply

Tax LOOPHOLES The Rich Don't Want How tax brackets actually work 2 days ago   11:02

Share
Years ago, my rich dad told me, “When it comes to taxes, the rich make the rules.” He also said, “If you want to be rich, you need to play by the rules of the rich.” The rules of money are skewed in favor of the rich, and against the working and middle classes. After all, someone has to pay taxes.

There are many ways that the rich make a lot of money and pay little to no money in taxes. On the flip side, the poor and middle class toil away for their money, pay more in taxes the more they earn, and then park their earnings in savings and/or retirement accounts. In the meantime, they receive little or no cash flow on which to live while waiting for retirement -- when they’ll live on their meager savings.

Doesn’t it make more sense to play by the rules of the rich, and earn more while paying less in taxes?

http://www.richdad.com

Facebook: @RobertKiyosaki
https://www.facebook.com/RobertKiyosaki/

Twitter: @TheRealKiyosaki
https://twitter.com/theRealKiyosaki

Instagram: @TheRealKiyosaki
https://www.instagram.com/therealkiyosaki/

Related Videos