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A comment on the US economy and the EU were the same size in 2008, the US is now nearly 2X. Parent comment
I overestimated the tax by a lot, I misread the chart and was adding the "Cuota" (sum of previous row taxes) from 1 row below what I should have.
They only pay 3,108.51 on the first 668,499.75. This puts the total tax at about half of my estimate, so only a ~0.35% drag on their 2M portfolio.
It's a very progressive tax, basically goes up 10X for really rich folks (>10M they take 3.5% of total wealth).
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I overestimated the tax by a lot, I misread the chart and was adding the "Cuota" (sum of previous row taxes) from 1 row below what I should have.
They only pay 3,108.51 on the first 668,499.75. This puts the total tax at about half of my estimate, so only a ~0.35% drag on their 2M portfolio.
It's a very progressive tax, basically goes up 10X for really rich folks (>10M they take 3.5% of total wealth).