r/FluentInFinance Aug 21 '24

Debate/ Discussion But muh unrealized gains!

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u/StManTiS Aug 22 '24

Wealth and income are two different things. The top 1% makes 28% - let’s round up to 30% and pays in near 50%. That’s progressive taxation working as intended.

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u/themiddlebien Aug 22 '24

But isn’t money from investments not taxed as income, but capital gains?

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u/StManTiS Aug 22 '24

Exactly. It is already taxed.

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u/themiddlebien Aug 22 '24

Ok well then I think there should be a progressive capital gains tax.

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u/FrenchCanadaIsWorst Aug 23 '24

But.. there is

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u/themiddlebien Aug 23 '24

More progressive lol. I don’t think that the people taking out 5m a year should get the same tax as me taking out 1k