i want to go to college and finish it

we've tarot reading in Gen 1 vc. if anybody is interested?

currently high school freshman

I think personally I like to keep my own money. Our founding fathers revolted for the sole purpose of being taxed at like 1% and not even that but they barely even had to pay for the things taxed and the fact that we are increasing taxes by like 15 to 20% is completely against the ideals of America

@Nightenhelser Children cost their parents money in healthcare though, you cost your parents money and your "healthy" period will just be spent working up enough money to fund your children

And Democrats want to increase taxes in order to stimulate the economy as they say it but this is hurting people because it’s taking money out of their pockets and we need money to pay for things because we like money and if you increase taxes for the sole purpose of for example healthcare for everybody around you that you don’t even know what you’re paying for then it’s just going to be inefficient

Nope that stuff is not good

luckily i don't have any children or plan to so the money i'm making and saving up now is going into a nice nest egg for an early retirement

Whats the personal allowance in the U.S?

What do you mean? Like minimum wage?

As in what amount of your income is protected and untaxed

Uh, I have 3 kids, and they dont make us any more broke than we already are

Were

Oh I don’t really know honestly sorry you’d have to search it up

I know stuff but not everything

Ah ok, i couldnt find it when i searched it so i was wondering if you even have it

I’m not an adult I’m a teenager so I’m not aware of dealing with finances like my parents know about that since they do bills and stuff

Same

I coukd ask my parents of the tax rate? I can tell you that taxes have definitely decreased under trumps administration as we only pay around $2000 instead of before which I’d like to think was higher

I dont remember the amount, but its fairly high. We pay someone to do our taxes

And even at 80k we get back what we pay in

Increasing taxes will do nothing but harm. Especially for minorities since well there is an income gap

ha smelly freshman

I’m a junior in highschool

I think I've found it, I dont think you have a personal allowance tho

im a sophomore

What is it? Also i wanna say thanks for having an engaging conversation with me because a lot of people like to resort to ad hominem but I appreciate the respect you’ve given to me

So in the UK you have a personal allowance of £12,500, meaning you pay 0% tax on that money

Oh so personal allowance is money they cannot touch unlike gross income?

But considering any income to be fine and able to handle more taxes is crazy. We are supposedly middle class but had so much debt that we are still paying off

does anyone play mc java here

Yeah its your untaxed bracket

And are barely a paycheck away from bankruptcy at any given time

who pinged meee

no one

if you make 12,501 do you pay tax on 1 or 12,501?

We cannot be taxed more. The young Turks think higher taxes stimulates the economy but he’s wrong. What stimulates the economy is production and consumption

Yes I think

@Nightenhelser £1

They cant touch your £12,500

Wait so you have a certain amount of income but the rest of your money has to go to taxes?