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Besides some math errors (I checked D'angelo's number and got about $348M "tax", not $23M; Zuckerberg's checked out though) -- I don't understand this: "Althou
by cespare 12y ago
Besides some math errors (I checked D'angelo's number and got about $348M "tax", not $23M; Zuckerberg's checked out though) -- I don't understand this:
"Although the model may seem fair on the onset, it can be criticized the same way we criticize a flat tax. Those at the threshold are "punished" the most."
It seems to me that because it's a "progressive" tax this criticism doesn't apply.
Edit: math checks out now, I think
- cyrusradfar 12y agoFlat tax is a policy that some advocate in the US where there aren't tax brackets and everyone is basically required to pay, for example, a flat 30% tax. In Andrew's case, he says 50% of all proceeds that are greater than the financial freedom limit. That means if you have 1B over you pay $500M and if you have $10M over you pay $5. That $5 million may seem like it has more of an impact to the latter person. Does that clarify it @cespare?