Americans Now Need at Least $500k a Year to Enter Top 1%

Re:Americans Now Need at Least $500k a Year to Enter Top 1% by vonmoltke on Wednesday October 16, 2019 @08:27PM (#21277706)

So, what is the income of a household sitting on $10MM+?

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Re:Americans Now Need at Least $500k a Year to Enter Top 1% by mikeyouse on Wednesday October 16, 2019 @08:36PM (#21277771)

Precisely the correct question - cap gains at that same 7% would yield $700k/year and be taxed at a rate of less than half the income tax rate.

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Re:Americans Now Need at Least $500k a Year to Enter Top 1% by vonmoltke on Wednesday October 16, 2019 @09:40PM (#21278183)

Cap gains of $700k per year would mean this household had an income of $700k per year, and so be in the top 1% of incomes.

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Re:Americans Now Need at Least $500k a Year to Enter Top 1% by y4mi on Thursday October 17, 2019 @01:15AM (#21279108)

Only if they choose to do so by selling their investment if I understood the previous comment correctly.

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Re:Americans Now Need at Least $500k a Year to Enter Top 1% by vonmoltke on Thursday October 17, 2019 @07:53AM (#21281033)

If they don't realize it, they don't get taxed on it. I read the comment as stating they are getting taxed every year.

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