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The point is that the really rich get little income (ex. Bezos paying himself around 80K a year) and instead use ex. capital gains to only pay 20%. I don't min
by ThomPete 8y ago
The point is that the really rich get little income (ex. Bezos paying himself around 80K a year) and instead use ex. capital gains to only pay 20%.
I don't mind this system it benefits me greatly too. But it's absurd that I pay close to 50% in tax (I live in New York) from the income I make from the actual work I do and much less when I invest.
That model seems backward as my income is actually the best indicator of how much value I provide.
Where as the potential upside from an investment or buying a house is so big it dwarf any income most people can make.