Re:California plan for wealth tax on anyone who spends 60 da...
by chipotle_coyote on Saturday December 19, 2020 @02:39PM
(#25480449)
It is a tax on money after the first $30M, so that is
$20M * 0.004 = $80,000
Which does actually mean my numbers are off, in that I accidentally calculated the guy with $50M in wealth having to pay $800K in wealth tax, and he actually only has to pay $80K. So, thank you for pointing out that this proposed tax was even more trivial for anyone that it would have affected than I'd originally thought.
$20M * 0.004 = $80,000
Which does actually mean my numbers are off, in that I accidentally calculated the guy with $50M in wealth having to pay $800K in wealth tax, and he actually only has to pay $80K. So, thank you for pointing out that this proposed tax was even more trivial for anyone that it would have affected than I'd originally thought.