The sad thing about high taxes like that is that it can penalize normal people with a normal, high income job. 400k won’t probably matter but in my experience, I have a high salary and I don’t have the time or even the money to hire a bunch of people to optimize my taxes in a tax free-heaven paradise.
Normal working people shouldn’t be taxed like crazy. Corporation is the thing we want to target. Large corporations. They have the mean to evade the laws.
The common man and women does not. Even if you have a small company, you do not have the time or the money to ignore the laws or taxes.
Capitalism isn’t made for big corporations. It is made for small company competing with each other. How the fuck the common Man is supposed to compete with Walmart? Like, what??
I know how tax brackets work. That’s exactly how you can optimize your taxes. You try to lower your income as much as possible with all the shenanigans that exists in the law. That’s what I’m saying.
If I do 410k and I don’t have time to optimize my shit, I’m penalized because very rich bro that owns company and shit can hire other bros to optimize their taxes.