So im not 100% sure how taxes work and i'm hoping someone can give me a brief explanation.
i believe that i am being taxed too much on my paycheque. My coworker told me how much he makes and i believe he is in a higher tax bracket than me, but we both got taxed the same percentage off our paycheques. i have two questions:
1. doesn't the percentage you are taxed increase as you make more money? (which is why i believe he is in a higher tax bracket than me)
2. i don't really mind being taxed more if it means that i'll get a bigger rebate at the end of the year. is this how it works or am i completely off on this?