is 62% of 400k not that ?
Thats not how tax brackets work my dude. You are making the mistake 50 and a lot of cacs make with taxes.... Republicans plant those lies and people that dont know better fall for it.
If you have a tax rate of 62% above 400k and (for example) a tax rate of 0% below 400k.....
Then if you earn 400,001 a year, you get taxed at 62% ONLY ON THE 1 DOLLAR THAT WAS ABOVE 400K. Not the entire 400k... So you would take home 400k and 38 cents....
It does NOT mean that your 400k in earnings would shrink to 152,000....
This misunderstanding is how they trick people into voting against taxing the rich. They tell you that "
Hey you make 400k... if they raise the tax bracket above 400k to 62% then you will get a 62% paycut because you make 400,001."
But thats a lie. Thats not how taxes work. But because people think they do.... They vote against taxing the wealthy; meanwhile Amazon/Google/Apple make Trillions and pay shyt for taxes because low income people keep voting to keep it that way.
The big issue here, is I don't believe 50 is even making this mistake. I think that just like a Republican, he knows better; but he knows his AUDIENCE DOESNT! So he is intentionally manipulating them for his own benefit.