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The rich don't tend to have much income to tax (proportionally). The bulk of their wealth increase per year comes from capital gains.
by phyzix5761 8mo ago
The rich don't tend to have much income to tax (proportionally). The bulk of their wealth increase per year comes from capital gains.
- thewebguyd 8mo agoWashington also has a capital gains tax now, 7% on long-term capital gains above $270k, and 9.9% on gains above $1 million, exempting real estate and retirement accounts.