Submitted by nevertoolate2 t3_11iap3h in LifeProTips

Only the money above the old tax bracket will be taxed at the higher rate. If you were making $99,999 per year and you got a raise to $100,001, i.e. a $2 per year raise, only the $2 would get taxed at the higher rate.

So don't worry, and may you get a raise in 2023!

EDIT--believe it or not, progressive taxation is not common knowledge. That's why I posted it. I tried to be clear and concise.

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