this post was submitted on 31 Jan 2025
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Explain Like I'm Five

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[–] [email protected] -1 points 14 hours ago (1 children)
[–] [email protected] 17 points 13 hours ago

If one earns $10,000 per year, a $2,000 annual tax is 20% of annualized income.

If one earns $100,000 per year, it’s 2%.

The less one earns, taxes are a greater proportion of total income.

Often, flat tax concepts come (or should come with) tax exemptions for actual low-income folks.