• BritishJ@lemmy.world
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    1 year ago

    75% on 10M is 7.5M. This is how you get people to end up paying $0, because that rate is far to high. Its like saying for every $1 you earn, you will get $0.25C. Yeah you wouldn’t be happy with that.

    30% of 10M is better than 0% of 10M. If I had that money and they wanted to charge me 75% tax, I would rather pay a smart accountant 1M and get to keep 9M.