Fair, will edit to make capital gains. It's late, tired -_-
> You are also adding inflation as a separate line item. Wow.
Inflation is a separate line item and it's effectively a tax. Since 2000, the dollar has lost >35% of it's value, i.e. you can purchase 35% less. They've also changed the way inflation is calculated in that time, it's likely even higher. As an exercise: If you gave someone land, but every year took x% of it -- they'd call that a tax.
> You are being penalized because you aren't paying attention to the market and somehow doing the most inefficient things.
Not really sure what you mean, if it's regarding taxes, I was pointing out how I could be paying 60%+ in taxes. I know there are rebates, discounts, etc but (A) a lot of people don't know these and (B) when you earn enough that disappears. The general point was 60+% taxes is real.
As it not something you pay to the state, why not add your healthcare premiums while you’re at it.
If you have assets look into charitable contributions. You can donate a portion highly valued illiquid business interests to any charity that will take it and reduce your own taxes for years.
Municipal governments are affected the same as you are.
And the federal government which issues the currency is also mostly adversely affected while marginally helping it (and all borrowers) defer paying off its debt. The additional money in its coffers is from its own creation* and doesnt help it purchase more (for long) as it has the same purchasing power and liquidity in the global market.
Its revenue sources, which are mostly tax these days, are distinctive from inflation.
*us treasury issues USD bonds, fed buys USD bonds from everyone including the us treasury creating new USD at the moment of transaction. Sometimes the US treasury is the recipient, other times the other investors are
It's not a tax on income. It's a tax on past income. If you keep switching jobs and invest your money you shouldn't have to worry about inflation at all except when it's too low.
The reason why it exists is that we don't want old money to dominate the economy, the other reason is that demand for USD is legitimately going up.
I don't think that's the case, the price of dollar against other currencies does not indicate that.
For now it is a non-negligible factor
(I’m not the person you replied to, and they didnt mention other currencies, just adding to the discussion)
Why are you calling it investment revenue? Its either income or a capital gain or its stuck inside of a C Corporation and doesn't really have to be paid to you?
You are also adding inflation as a separate line item. Wow.
And on everything else, even Illinois isn't that complicated.
You are being penalized because you aren't paying attention to the market and somehow doing the most inefficient things.
I'm guessing a pass through LLC designated as an S-Corp importing humans from a sanctioned country and making them pay rent in your house after ferrying them up the Mississippi river all the way to Chicago and driving them in your pre-catalytic converter truck to the suburbs. Have you tried SaaS?