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this post was submitted on 09 Jul 2023
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Bro TOTAL WEALTH. 25% of my TOTAL WEALTH. It's less than 25% of my income, because my total wealth is less than my yearly income.
Marginal or average brackets have nothing to do with it because I'm talking about the tax burden I have relative to my TOTAL WEALTH.
This is why it's frustrating. Everyone ignores the single most important part: this is about TOTAL WEALTH.
TOTAL WEALTH.
TOTAL WEALTH.
Is that clear yet ffs
No it's not clear.
What the heck are you even on about your total wealth???
We're talking tax brackets on income tax! Or taxing people based on revenue.
What does your total wealth have anything to do with this? Heck, I own a bunch of shit, some is more valuable, it's part of my total wealth, but I sure ain't taxed on it because THAT'S NOT HOW INCOME TAXES WORK!