4 ms·
Assuming a 15% long term cap gains rate you'd write a check for $135k. You now have 765k--not bad, but how many years did it take? Now, what if the tax rate was
by lrm242 17y ago
Assuming a 15% long term cap gains rate you'd write a check for $135k. You now have 765k--not bad, but how many years did it take? Now, what if the tax rate was 34% (as will be in a few years under this plan in CA): you write a check for $306k and you're left with 594k. If this exist took you three years you just averaged a 200k/year salary--great job. Unfortunately, you'd have been better off working for Cisco because of the amount of risk you likely took to achieve that outcome. Anything that the government does to minimize the reward for taking risk will, undoubtedly, also minimize the amount of innovation.
Please save this and come back and read it after you write a check (one or multiple) to the US government for millions of dollars after you struggle for 5+ years and literally risk everything you have to make a business successful.