Coronavirus (COVID-19 Outbreak) (83 Viewers)
- Thread starter Bjerknes
- Start date
You better buckle up, it'll probably be 'till April for you guys 
It seems like the fears of UKovid are growing. It's the reason why we extended our lockdown with another 3 weeks. Probably more European countries will share the same fears and lock up longer.
It seems like the fears of UKovid are growing. It's the reason why we extended our lockdown with another 3 weeks. Probably more European countries will share the same fears and lock up longer.
Trying to figure out that one myself as well 
. In fairness, there's a good social safety net for the workers.Those who lose their job remain to receive % of their previous income for several months.
It's progressive so the more you earn, the more you pay. First 60K are taxed at 37% and everything above 60K is taxed at a rate near 50%. An awful side effect of a progressive tax system (and also socialism/communism itself) is that the incentive of earning more and pursuing high end careers is gone for a lot of people. And the real wealthy will find loopholes in the tax laws and end up paying less. It's just the middle class that gets screwed over.
. In fairness, there's a good social safety net for the workers.Those who lose their job remain to receive % of their previous income for several months.It's progressive so the more you earn, the more you pay. First 60K are taxed at 37% and everything above 60K is taxed at a rate near 50%. An awful side effect of a progressive tax system (and also socialism/communism itself) is that the incentive of earning more and pursuing high end careers is gone for a lot of people. And the real wealthy will find loopholes in the tax laws and end up paying less. It's just the middle class that gets screwed over.
Frankly speaking, the US is not far behind on taxes either. If you are not incorporated and are an employee, expect to pay federal taxes up to 37% of your income. Add state taxes and you’re well into the 40’s. And this doesn’t include health insurance.
Bottom line is: get incorporated.
Disclaimer: I don’t have much clue about taxes!!
Bottom line is: get incorporated.
Disclaimer: I don’t have much clue about taxes!!
Trying to figure out that one myself as well . In fairness, there's a good social safety net for the workers.Those who lose their job remain to receive % of their previous income for several months.
It's progressive so the more you earn, the more you pay. First 60K are taxed at 37% and everything above 60K is taxed at a rate near 50%. An awful side effect of a progressive tax system (and also socialism/communism itself) is that the incentive of earning more and pursuing high end careers is gone for a lot of people. And the real wealthy will find loopholes in the tax laws and end up paying less. It's just the middle class that gets screwed over.
. In fairness, there's a good social safety net for the workers.Those who lose their job remain to receive % of their previous income for several months.It's progressive so the more you earn, the more you pay. First 60K are taxed at 37% and everything above 60K is taxed at a rate near 50%. An awful side effect of a progressive tax system (and also socialism/communism itself) is that the incentive of earning more and pursuing high end careers is gone for a lot of people. And the real wealthy will find loopholes in the tax laws and end up paying less. It's just the middle class that gets screwed over.