Recent comments in /f/dataisbeautiful

sea_dev OP t1_ja8l4ll wrote

Reply to comment by jh937hfiu3hrhv9 in My income versus my effective tax rate each year since graduating college [OC] by sea_dev

I'm a software engineer, but all of my pay raises are from changing companies.

  • I started 2012 working a part time job that would turn full time when I graduated, but I left for another job paying more when I graduated. ($65k salary)
  • In 2013 I left that job and moved to Seattle to work for a large software company. ($100k salary)
  • In 2017 I left that software company for another one. ($135k salary)
  • In 2018 I left that one for another company ($165k salary)
  • In 2022 I left that one for another company ($205k salary)

Every time I switched I also received signing bonuses and every job gave me stock bonuses to supplement my salary.

13

sea_dev OP t1_ja8j7yg wrote

Reply to comment by forengjeng in My income versus my effective tax rate each year since graduating college [OC] by sea_dev

That's just how progressive tax brackets work. For example, the 2022 brackets for married filing jointly are:

  • 10% on income up to $20,550
  • $2,055 + 12% on excess income up to $83,550
  • $9,615 + 22% on excess income up to $178,150
  • $30,427 + 24% on excess income up to $340,100
  • $69,295 + 32% on excess income up to $431,900
  • $98,671 + 35% on excess income up to $647,850
  • $174,253.50 + 37% on excess income

So for 2022 my taxable income was $278,077 and I only took the standard deduction of $25,900. I also had 401k contributions throughout the year, but I hadn't included any of those for previous years "total income" figures in the graph. So my federal income tax that I owed was $54,409 ($30,427+0.24*[278,077-178,150]). But I got to claim $6,000 with the child tax credit, reducing that to $49,055 (nearly a 10% reduction).

Also, our government subsidizes married couples and families. Married filing jointly tax brackets are much lower than individuals and the child tax credits don't start to fall off until I think around $400,000 household income.

7

kompootor t1_ja8guih wrote

Reply to How the US and Canada Reduced Their Power Sector Emissions: Top Source of Electricity in Each State and Province Since 2005 [OC] by NoComplaint1281

The essay page accompanying the graphic makes a nowadays too-typical optimistic pitch: Yes, the US and OECD energy sector is decreasing emissions and emissions-per-unit-GDP is dropping, but total emissions are still increasing in the OECD -- that is, our growth (in consumption and production) significantly outpaces our efficiency gains. [This was wrong when I typed it, which is why I usually link to stuff in-line and don't just go by what I remember from podcasts in November -- I'll have to make the corrections later tonight.] Among other things, this makes us look doubly hypocritical when we say to middle-income countries and India especially that they need to moderate their own pace of growth (against more expensive and slow-to-build upfront infrastructure costs that would all have to be subsidized) for the sake of CC mitigation.

2