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A comment on What do wealthy people buy, that ordinary people know nothing about? (2015). Parent comment
If you rent a $10m house you pay $500k a year for it. With 50% tax you'd have to earn $1m a year to pay the rent.
If you own a $10m house you pay no rent, and have to earn $0 a year to live there.
If you rent a $10m house you pay $500k a year for it. With 50% tax you'd have to earn $1m a year to pay the rent.
If you own a $10m house you pay no rent, and have to earn $0 a year to live there.