2 ms·
> With compounding, total taxation takes away >99% of income That does not compute. Perhaps you could explain that.
by worik 2y ago
> With compounding, total taxation takes away >99% of income
That does not compute.
Perhaps you could explain that.
- sandworm101 2y agoI think he was aiming for disposable income, rather than all income.
- worik 2y agoI think it is lies.
- OutOfHere 2y agoI haven't yet checked this yet for correctness, but the approach to go about doing such a calculation is at https://chatgpt.com/share/8145329b-b009-46f6-a9cf-7703f4958875 https://chatgpt.com/share/8145329b-b009-46f6-a9cf-7703f49588... It says the answer is a 90% loss (not 99% or higher), which still is quite bad. Again, this is pending me doing the calculations myself. Regarding taxes, a total tax burden of 50% was used to account for all taxes (income, sales, property, etc.) Even this calculation by GPT doesn't take into account the "investment gain" taxes one would have to pay at the end, which would bring the loss percentage above 90.