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Boraxo commented on the blog post Tax Cut Deal Gives $139,000 to Every Millionaire in America
The headline is patently false – you’re confusing everyone who has an earned income of a million dollars per year with everyone who has a net worth of a million dollars. The former gets $139K in tax breaks, the latter – a far, far larger group – does not.
Also, very few people who do make at least a million dollars per year take it as earned income – pretty much just entertainers and athletes. Anyone else shifts it to stock options, so it comes in as unearned income (capital gains), and is taxed at a flat 15%.
