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> That's why poor people pay the highest percentage of their income The key word here is income. “Wealth” and “income” tend to be conflated by ostensibly intel
by xienze 1y ago
> That's why poor people pay the highest percentage of their income
The key word here is income. “Wealth” and “income” tend to be conflated by ostensibly intelligent people who should know better. If I’m granted a million dollars in stock but draw a $20K salary, I’m “wealthy” but not “paying my fair share” because I’ve hardly earned any income for the year.
- ponector 1y agoIs it right? From my knowledge stock compensation is considered as income and is taxed. But I got your point. There are ways to be wealthy, have a rich lifestyle but report no taxable income/profit. What you actually want is to have a wealth tax like in Switzerland. 0.05-0.3% annual tax based on net assets.
- Workaccount2 1y agoRealizing stock value (selling stock) is considered income.
- ponector 1y agoLooks like you are talking about stock options, not stocks. If you receive a stock as compensation - it is an income. If you sell them years later with profit - it is additional extra income.
- FireBeyond 1y ago> Is it right? From my knowledge stock compensation is considered as income and is taxed. Unless you have enough stock that you can take a zero or low interest loan against that stock as collateral and kick that can down the road until you die and there's a huge threshold for estate tax, that is if you've not got it structured so that the stock is owned by a trust.