Post #3097932
2026-05-23 05:27 UTC
He's also conveniently overlooking the fact that he's managed to avoid paying tax on so much of the money he's made in his career. If it had all been taxed as income, like how the rest of us are taxed on most or all of what we get, he would've paid several times more.
Replies (1)
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@jamie@zomglol.wtf 2026-05-23 05:37
The average person has little to no wealth and won't be impacted by a wealth tax in any meaningful way. If you have $100k in stock and are taxed for 1% of your wealth (the example PG said is equivalent to 20% of income tax), it means you would have to pay $1k in tax. But if you make $100k in income, you'd be taxed: 10% of $11925 + 12% of $36550 + 22% of $51525 … which comes out to $16,914, almost 17x what you'd pay if you held a growth stock.