obviously I'm in the UK, and therefore my views are unlikely to be shared by those in the US. However I pay a good 35-45[1]% of my total income in taxes. I don't mind so long as we have a system that supports my fellow man.
So it smacks to me of pearl clutching. I don't see why a multimillionaire who has the option to hide their wealth should be exempt from paying a reasonable amount of tax. Man up and pay your fair share, its not like its ever going to be as higher percentage as what someone on $70-170k is.
[1] do the math of total loss of income on that....
Management fees are all over the place. In the UK pensions are capped at .75% (it used to be be as high as 2%)
in the US, 401k mangement fees are ~1% (https://www.investopedia.com/articles/personal-finance/06191...)
obviously I'm in the UK, and therefore my views are unlikely to be shared by those in the US. However I pay a good 35-45[1]% of my total income in taxes. I don't mind so long as we have a system that supports my fellow man.
So it smacks to me of pearl clutching. I don't see why a multimillionaire who has the option to hide their wealth should be exempt from paying a reasonable amount of tax. Man up and pay your fair share, its not like its ever going to be as higher percentage as what someone on $70-170k is.
[1] do the math of total loss of income on that....