For all the 1%s here

#1

Looking at Manch, Ptiemann, Elt1, sfdragonboy, hanera, jane, wuqijun…

time to start figuring out how to save on those darn taxes

edit: added names :slight_smile:

#2

The biggest boy in town, wuqijun, is missing?
Super-rich > $100 million, I believe none of us is there.

#3

Uh, I drive a 1991 Honda CRX Si for commuting…(hint: me no richie…)

#4

lol. ok. + Wuqijun.

#5

Uh huh. We all know you’re “The Millionaire Next Door”

#6

Ok, as I am munching on lunch packed by the Mrs. and not going out for a burger that costs $20 around here…

2 Likes
#7

Well thanks for singling me out, hanera! But you are wrong, I’m not the 1%. Please have @BA_lurker to remove me from his list.

1 Like
#8

On a more serious note, the article resonates because it does make sense that taxes have a disproportionate impact on people between 35 - 99% of the wealth spectrum. They are likely the ones who are earning income that is probably salaried or easily traced vs income via investment.

p.s. in case it was not obvious - the above list of people is neither complete nor accurate, but was written in jest.

#9

+1

#10

Read the article, Now I understand what BA_lurker is talking about. Top 1% paid the highest tax rate of 22.83%, so they should think hard about how to save on taxes.

In any case, the main reason rich (0.1% to 0.001%) are paying less tax is because long-term capital gain tax is at 15% and dividends are considered as capital gain. The author is suggesting progressive tax rates for capital gain. Just for info, many nations such as Singapore, don’t have capital gain tax and dividends are not considered as capital gain. However, most dividends are not taxable :slight_smile: , complicated system :slight_smile:

Top 1% definition by financial samurai

#11

Yes, as I later drive home in my lil Honda to watch the Dubs hopefully put a licking on Bron Bron I will remind myself, you’re a 1%er, you’re a 1%er…:slight_smile:

1 Like
#12

I need to learn how to make money from you guys so that I can retire at 55.

#13

I have no problem paying taxes. The more tax I need to pay, the happier I am. I don’t understand why people would want to evade paying tax at all…

#14

Being an investor is a lifelong job. You don’t get to retire until you are laying on your death bed. Sorry…

3 Likes
#15

That article isn’t even about the US. Those countries have insane tax rates and very few tax deductions. Some even tax 1% of wealth each year if you’re above a certain threshold.

#16

Please don’t tell us you’re 53…(we got some hot stock/real estate picks but NOT that hot…) :slight_smile:

#17

He probably have a type R engine w/ turbo in this SI. S2000 seats, tien adjustable suspension. mugen exhaust,full bodykit. not cheap. SF fast & furious dragonboy.

#18

Uh oh, @dioworld likes to ride low, loud and faaast…

#19

1% of the US is over 3 million. …10% 33million…Probably a lot of BA area people in the top 10% of earners in the US

#20

Nope long way till 55.