Re:How to have a billion dollar exit with zero capital gains...
by parkingrift on Tuesday May 10, 2022 @08:12AM
(#31326121)
Why? Is there some correlation between the amount of capital gains I’ve made and the amount of money society needs? If I were to make less in capital gains does that mean society is missing out in some way?
I pay federal income taxes, payroll taxes, medicare and medicaid taxes, social security taxes, corporate taxes, state income taxes, city income taxes, property taxes, and more.
Why should I then pay a huge capital gains bill? Why should I feel morally obligated to do such a thing?
I think you’re missing all the taxes paid along the way to achieving a billion dollar business. For me it’s 47% per year. Far more than I would consider my fair share considering most people pay an effective rate of 0%.
I pay federal income taxes, payroll taxes, medicare and medicaid taxes, social security taxes, corporate taxes, state income taxes, city income taxes, property taxes, and more.
Why should I then pay a huge capital gains bill? Why should I feel morally obligated to do such a thing?
I think you’re missing all the taxes paid along the way to achieving a billion dollar business. For me it’s 47% per year. Far more than I would consider my fair share considering most people pay an effective rate of 0%.