They wont be paid if he doesn't sell before 60. This will be completely untaxed. Thats the IRA abuse: its meant to be used tax deferred as a retirement scheme for a certain amount (6k a year) not for billions.
But because of its mechanics you would like to put your wildest shots into IRA's (say, option trading) because it has the highest expected value in case it goes up.
In the spirit of the program, there would be a cap to how much money will be shielded from capital gains tax.
Its kind of surprising to me how obvious it has become to compare % as more or less instead of absolute numbers. I dont know anything else but taxes that people use this notion.
30% of a small number is a lot less than 10% of a massive number. Most definitely PT has paid a multiple of taxes than middle class: millions upon millions of it.
The most common justification is the subscription to the punitive usage of taxes: if someone has money, he should be punished more and more for it.
Maybe you could use another framework and say, how much of taxes and public services do you consume and how much do you contribute. And I assure you people like PT are very much net providers, whereas middle class will very often be a net consumer.
> The H-1B LCA requires visa holders be paid equivalent to or better than U.S. workers.
This is a typical bureaucrat solution. An an immigrant you dont have the power to leverage salary, so there is no chance you will get the same results as an american, adjusted for everything else. First of all, there is a legal cost of the visa, which is and will always be paid by the employee. Second, you can adjust salary in 20 ways the bureaucrat cant see: PTO, stock grants, chances of advances, bonuses, etc. And finally, if you as an employee cant go into your bosses office saying a competing company wants to pay you 20%, because you cant do that with an H1B, your long term income is also affected.
What is hard to believe is that the mercantilist mindset has been vanquished 200 years ago, and you still need to instruct adults into why it doesn't work over and over again.
But because of its mechanics you would like to put your wildest shots into IRA's (say, option trading) because it has the highest expected value in case it goes up.
In the spirit of the program, there would be a cap to how much money will be shielded from capital gains tax.