They are alluding to capital gains. If you don’t need money now, you take 50 million dollars in stock, hold it for at least a year, and now you’re paying 15% or less instead of whatever the top tax bracket would be (like 37% or something) if you were to take it as employment income.
One of the greatest unfairnesses in the tax systems in many countries (certainly at least the US and UK) is that income from “investment” (which generally is money made from having money or owning thing, though there are often ways for freelancers and small business owners to use it to have their income from work look like the income of business ownership) is taxed less than income from work.
It’s “interesting” how the countries with the loudest “strives vs skivers” and “meritocracy” bullshit from politicians, generally penalised people more for working than for sitting on their hands whilst their fortune naturally grows through rent-seeking.
If you say so…I’m more of a turbotax on April 14 kinda guy
They are alluding to capital gains. If you don’t need money now, you take 50 million dollars in stock, hold it for at least a year, and now you’re paying 15% or less instead of whatever the top tax bracket would be (like 37% or something) if you were to take it as employment income.
One of the greatest unfairnesses in the tax systems in many countries (certainly at least the US and UK) is that income from “investment” (which generally is money made from having money or owning thing, though there are often ways for freelancers and small business owners to use it to have their income from work look like the income of business ownership) is taxed less than income from work.
It’s “interesting” how the countries with the loudest “strives vs skivers” and “meritocracy” bullshit from politicians, generally penalised people more for working than for sitting on their hands whilst their fortune naturally grows through rent-seeking.