I don't support any candidate, but the tax proposals are very concerning. The taxes proposed are so high that even an E9 will not be able to afford food and housing anymore. They will all quit and leave. 90% taxes happened in the past but just one time during the world war. It can not be the norm. No economy can survive that. Taxes never target rich people because their income is always zero on paper. However, tech workers have no choice but to pay because it's taken from our wages. If these proposals pass, the tech industry will collapse. We will all have to move to other countries in order to survive. I will not vote in the election because I don't support any of the candidates. However, it really sucks to see our hard earned money is forcefully taken by the government and given to politicians and scammers.
Such melodrama OP!! Nobody will quit. They will cling to their jobs like their life depended on it. And if anybody quits, there will be a 1000 waiting in line to take that job. Stop the BS.
I don't even know what this rant is about , Biden said they will not increase tax for anyone below 400K. Also tech workers in silicon valley is only paid 400K above salary, when ie as working in Ohio my TC 125 , nobody had TC above 200.
It's 400k for families with two tech parents which is really easy to hit mid career. 200k each spouse is like entry level at a top tier company with remote jobs. For senior engineer at most decent companies remote would pay you 300k each, so 600k as a couple.
You can easily reach to 400k when your YOE is more than 8. People who has high YOE is ok since they already had a lot of money. However, people like you, you will never climb the ladder. GL
Yeah similar things promised by Indian Democratic Party (congress) Is someone behind the scenes making these policies? I mean this is going to bring total collapse of private jobs. We will be digging and filling holes
Whats your take on Congress’ manifesto? The inheritance tax (@Pitroda) seems like a low blow pathetic attempt (although Congress has cleared that they don’t share his views) but RaGa’s whole line of promises is built around socialism — Take from the mid/rich and distribute to the less fortunate ones
And the current dictatorship is helping the poor and not promoting hate speech right?
lol @ E9 cannot afford housing. Sure go back to your country and live like a king
We need to have mass federal government layoffs just like we have layoffs in tech. We need someone like Elon to fire half of all government workers. Most of them are doing useless jobs if not harming us as class enemies. If we cut the government spending in half, we could have lower interest rates with less inflation.
There have been numerous studies that the US government could reduce jobs by 30% (the military excepted) without a cut in already dismal services
Oh, did you mean like changing the accounting rules so software research is amortized over 5 years instead of being expensed, which led to mass layoffs and under-investment in the tech industry, which Trump did, or did you mean ending the college tuition deduction from the tax code, which reduces the knowledge base of the country, which Trump also did? After Trump hands Ukraine over to Russia, he will sabotage what he hasn’t already set back in America’s technological leadership, handing the technological and military advantages to Russia and China, as his master Putin has ordered him.
Relax. It will never happen and even if it did it won't impact anyone.
Bidenomics explained…
Federal income tax in the US is progressive, which means you only pay the highest amount on a fraction of your income over a certain bracket. Look up the definition for more explanation. But to put it simply, it’s not like your full amount gets taxed at high rates.
Agreed