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You’re forgetting inflation and income taxes! If I had a $1b I would have to earn 5% + 2-3% a year just to break even - but if some portion of that 7-8% was i
by cascom 6y ago
You’re forgetting inflation and income taxes! If I had a $1b I would have to earn 5% + 2-3% a year just to break even - but if some portion of that 7-8% was income/capital gains than I would have to earn even more... and that’s before I put fuel in my jet or feed my thoroughbreds...
- rodw 6y ago> You’re forgetting inflation and income taxes! No, I'm "modelling" the wealth tax with the exact same assumptions as pg, save that I'm using a plan that was actually proposed as opposed to a "take 1% of everyone's wealth every year" strawman. Also, this statement: > I would have to earn 5% + 2-3% a year just to break even only applies to your wealth in excess of $1,000,000,000.