this post was submitted on 17 Apr 2024
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ExMormon

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9 Years ago, one of my good buds who was still practicing Mormonism, posted this to FB and I still can't wrap my head around how the hell he honestly thought this was true. (i.imgur.com)
submitted 6 months ago by TehBamski@lemmy.world to c/exmormon@lemmy.world
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[–] Lemmeenym@lemm.ee 10 points 6 months ago (1 children)

The highest tax rate on income is 37%. The effective tax rate of the people who have income in that bracket is significantly lower.

[–] blandfordforever@lemm.ee 1 points 6 months ago

You're only considering federal income tax. There's also state income tax, sales tax, property tax, social security, and other state taxes. It's nearly 50% in many cases.