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7 COMMENTS

  1. Most people get rich with ordinary income from small businesses, not capital gains. You are WAY off base in your thesis. You also failed to mention that the capital gains tax applies to nominal dollar gains, not real value gains. In other words, you pay a capital gains tax on inflation. So the capital gains tax in real terms is higher than 20%, and as a percentage of real term gains it can be 100% on assets that grow no faster than the rate of real inflation (not fed reported inflation).

  2. The income distribution is way more skewed than the chart that you showed. It's a totally rigged game but a big reason why the income inequality has exploded recently is because of Quantitative Easing.

  5. You forgot to say that you need fiat money in case of any crisis. At least enough that would last for 12 months on the lowest standard in case you loose your source of income. So you need save that money.

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