What? No. Net worth amounts are quoted in approximate pre-tax amounts. The vast bulk of which, for the 1%, are deferred capital gains taxes. The rest of us don’t get the ability to defer taxes until we feel like it, and capital gains are taxed at a lower rate too because… just because.
What? No. Net worth amounts are quoted in approximate pre-tax amounts. The vast bulk of which, for the 1%, are deferred capital gains taxes. The rest of us don’t get the ability to defer taxes until we feel like it, and capital gains are taxed at a lower rate too because… just because.