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If you had 10k in 2000 then didn't invest, in 2021, you'd lose even more money due to inflation than if you invested. Because cash obviously doesn't grow with
by vineyardmike 6y ago
If you had 10k in 2000 then didn't invest, in 2021, you'd lose even more money due to inflation than if you invested.
Because cash obviously doesn't grow with inflation. You're only option to "get ahead" is to pick a better stock :)
- jukabo 6y agoBut there’s a risk associated with picking stocks. These taxes keep poor people poor. They will never get ahead.
- CameronNemo 6y agoAlso there is always the standard deduction, and I think at the federal level there is even 30k on top of that you can take in LTCG without any taxes. So not a luxurious lifestyle, but certainly enough to survive. I don't think WA is doing that though. They probably have a much lower threshold when the capital gains tax sets in. Edit: just read a bit closer and WA is exempting the first 250k in gains per year. So they are offering an even better deal than the feds.