Worth noting: the gain on those share from here on out will be taxed at the capital gains rate, assuming he holds onto them for a year. In California I think th

Worth noting: the gain on those share from here on out will be taxed at the capital gains rate, assuming he holds onto them for a year. In California I think that tops out at 33.3%. Also, in the mid 20th century (a very high growth time for the US) personal income tax topped out around 90%. "Harsh" is definitely a matter of perspective.