4 ms·
You should look into the recent proposed bills that target exactly this. The provision that made headlines was a wealth tax on $30MM personal wealth, however i
by batt4good 6y ago
You should look into the recent proposed bills that target exactly this. The provision that made headlines was a wealth tax on $30MM personal wealth, however it also includes enormous income tax hikes on anything above $1MM and explicitly targets capital gains.
- jedberg 6y ago> however it also includes enormous income tax hikes on anything above $1MM It's a 1% tax hike on income over $1M, 3% on over $2M, and 3.5% on income above $5M. I wouldn't call that enormous.
- batt4good 6y agoAt rates like this, the gov't (federal and state) are collectively taking more than half my income and still can't seem to function properly. 3% is enormous on top of existing sky high CA numbers...
- octernion 6y agostill far below historical highs if you are being taxed at that marginal rate.