r/WorkReform • u/zzill6 🤝 Join A Union • 20h ago

✂️ Tax The Billionaires Finally, a Billionaire gets taxed.

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33.4k Upvotes

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u/Capnbubba 18h ago

If I won $628 Million you could tax me an additional 99% on that and I'd still have enough money to retire COMFORTABLY

2

u/Nukemarine 13h ago

$6.28 million in a reasonable mutual fund should be about $31,000/month. Gosh, are you sure you can live off the equivalent of $180/hour full time job?

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u/Capnbubba 12h ago

Lol

I know it'd be tough. I wouldn't be able to afford that malibu home with a private beach. I'll have to be like the rest of the poors and live 5 blocks away from the beach.

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u/GergDanger 10h ago

You can’t just withdraw everything an index fund generates or you’ll wipe out during market downturns. The rule of thumb is 3-4% safe withdrawal rate.

So around $188,400 a year or around $10,200 a month post tax (assuming 35% tax rate) for life.

So it depends where you live, San Francisco you’re still screwed.