Startups (founders + employees) work 10 year with below market salary hoping for equity value. With 43.4% capital gains, in California, that is 56.4% tax. Estate tax takes 40%. Spend your life creating to give 73.8% to the govnt. Buy over priced real estate. Effective tax 90%.
Including this https://twitter.com/kyunbit/status/1385337702514524162">https://twitter.com/kyunbit/s...
Apparently the highest cap gains in history https://twitter.com/geostan77/status/1385358987890094089">https://twitter.com/geostan77...
This is what happens to engineers in the Bay Area https://twitter.com/zachtratar/status/1385020526398115841">https://twitter.com/zachtrata...
More here https://twitter.com/davidstewartny/status/1385381977822404608">https://twitter.com/davidstew...
More here https://twitter.com/tavicosta/status/1385318434934644736">https://twitter.com/tavicosta...
For the people say 11m is the estate exemption. Good news for you. Biden’s tax plan proposes reducing the exemption to $3.5 million: https://www.thinkadvisor.com/2021/04/07/4-biden-tax-proposals-that-could-shake-retirement-estate-plans/#:~:text=Over%20the%20past%20several%20years,estate%20taxes%20will%20increase%20significantly.">https://www.thinkadvisor.com/2021/04/0...
The U.S. has ergodicity which means that rich people fall in rankings as much as other people rise. The rich in 2020 is not the same as 2015 and that dynamism you don& #39;t see in places like Europe https://medium.com/incerto/inequality-and-skin-in-the-game-d8f00bc0cb46">https://medium.com/incerto/i...
You can follow @zaoyang.
Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled: