Nebulous Menace (Sandy B.)May 2, 2023

Weird math thing: Trying to figure out if this "millennials are doing fine" article is skewing the wealth numbers. I don't have an answer, but Mark Zuckerberg, millennial, has about 1% of the wealth of all American millennials. (Average wealth around $100,000, 71 million of them, that's $7,100 billion. Zuck is worth $85 billion.)

https://www.noahpinion.blog/p/will-there-be-a-millennial-big-chill gives median income [good] and per-capita wealth [less good].

... why is our top income tax rate 35% instead of 85%, again?

Will there be a Millennial Big Chill?

Millennials are finally doing OK economically. Will their politics moderate?

Noahpinion
Show threadTower Street Geek
@nebulousmenace Surely you don't think the megawealthy give a damn about *income tax,* do you?
May 2, 2023 at 7:14pmWeb
Show threadNebulous Menace (Sandy B.)May 2, 2023
@jeff_rubinoff A valid point. On the other hand, Elon Wossname nearly got crushed by " borrow, spend and die."
Show threadTower Street GeekJul 29, 2023
@nebulousmenace Off topic, but we have a wealth tax here now, and will until 2026 when it will get replaced due to unconstitutionality, and it makes me appreciate capital gains tax.
Show threadNebulous Menace (Sandy B.)Jul 29, 2023
@jeff_rubinoff I'm guessing it isn't a "kicks in at $10 million" wealth tax.
Show threadTower Street GeekJul 29, 2023
@nebulousmenace Applies to everything over €50;grand
Show threadTower Street GeekJul 29, 2023
@nebulousmenace So I will probably close our eToro account, which is mostly in index trackers and is taxed at 52.4% of the expected return this year of around 5.5% (actual return around 2%) and put into a savings account, taxed at 0.05% or so