re: Biden proposed 44.6% Capital Gains tax, 25% tax on Unrealized Gains

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The only way they have a lower tax rate is if they half less income. Buffet is intellectually dishonest every single time he makes the claim his secretary pays a higher effective rate than he does.

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That’s not exactly true. Highest capital gains tax rate is 23.8%, with no FICA taxes owed on that money.

A single filer W2 employee at $200,000 of wages would pay over 25% in federal income and FICA taxes.

Obviously 23.8% of $10,000,000 is a lot more than money than 25% of $200,000, but it’s still a lower effective rate.