Comments by "" (@jmitterii2) on "Warren Buffett’s House Makes "Business Insider" Freak Out!" video.

  1. I had to explain tax brackets to a friend that was near completing her accounting degree, and she was taking on a second job doing taxes. She refused to believe me... she said skeptical, "I don't think so... I'll have to ask the instructor." I said that she really should, because not knowing basic tax structure would make doing peoples' taxes pretty difficult. But I find myself having to explain that to everyone at work, and even my dad gets confused thinking a little bit will make all taxes paid at the higher bracket no matter how often I explain how it works and he acknowledges he understands. He recount in the 80's when his union was talked into only taking a 1% pay increase do the patriotic duty to relieve inflation. But the company had already set aside 3% for the union workers, so they gave it to non-union management for a 6% increase for them. And he was upset it caused him to pay more taxes into the next bracket... I have to keep reminding him, yes you got screwed, but it didn't get taxed more than the pitiful 1% increase... just that little bit was taxed at the higher rate. Hence they get suckered like his union to being patriotic thinking not taking 3% pay increase, but just a 1% would save the economy from inflation. Nope. Instead they gave it to the other non-union workers. It's really difficult to teach people. Anything.
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