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StraightnLevel
No. A billionaire would pay 27.6% in taxes. 20% in regular income tax, 3.8% Obamacare surtax, and 3.8% NIIT surtax.Still looking for an explanation. If the capital gain is due to inflation, say 20% over the last three years, the billionaire needs to pay 20% of that in taxes?![]()
So, if he’s paying tax on a 20% inflation gain (your example), he has a net negative real income of -7.6%.