Comments by "" (@jmitterii2) on "" video.

  1. Lucid, that's a bit incorrect. But also missing the fact the top 9.9% make 300+ times the all the other quintiles. And you're looking at the amount paid, not the percentage of their income goes to taxes. Of course even if flat tax someone who made $1 million would pay more in total amount compared to someone who made $100K or 10K. It's the proportion is insane. The rich have much larger disposable income yet they pay an even smaller percent of their income. https://www.cbo.gov/publication/51361
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  2. No the gain. And that is what is taxed. The principle isn't taxed again. $100K (supposedly you were taxed on if you earned it via ordinary income and not just borrowed it) and invest it on a house and sell it for $150K, you would be taxed on the $50K profit. If it were a fixer upper and you spent $15K total cost remodeling, that reduces $50K taxable profit that was never taxed in the first place -$15K =You're taxed on $35K. Capital gain is only taxed on new realized money.It isn't double taxed.
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