Post #3097933
2026-05-23 05:37 UTC
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.
Replies (1)
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@jamie@zomglol.wtf 2026-05-23 05:39
And that's *just* federal income tax. That doesn't count social security tax and OASDI which are taxed on your $100k of income but not on the $100k in equity that you're holding.