Comments by "JP 72" (@739jep) on "Investing in Your Financial Literacy" video.

  1. Was not prepared at all to hear you say ‘Bullshit’ 😂 nearly spat out my coffee 😂
    8
  2. You would still have more income , it just maybe wouldn’t be 2x if you happened to creep into a higher bracket. We’re in danger of being over pedantic here I think.
    1
  3.  @MrDjoppio  I’m not saying you’re not taxed , I’m saying that it’s plainly false to state that you have ‘LESS free income’ It’s Basic arithmetic : Gross pay = $100 Tax rate = 40%. Take home pay = $60 Then if your double your income : Gross income = 200 Tax rate = 40% Take home pay = $120 (precisely double your take home pay from before the doubling of your gross income). Now if you enter a new tax bracket that take home pay wont be exactly double - but it will defiantly be more than your original take home pay. Now the original question only gives income and inflation as variables , so tax isn’t even relevant - but as demonstrated here tax wouldn’t only matter to the solution to the question if your tax rate on your new income changed. We are not given that info in the question , so the solution provided in the video is correct.
    1