Free Republic
Browse · Search
General/Chat
Topics · Post Article

To: MinorityRepublican

No income tax in Florida says it all.


2 posted on 10/04/2025 7:23:58 PM PDT by Nextrush (FREEDOM IS EVERYBODY'S BUSINESS, REMEMBER REV; NIEMOLLER)
[ Post Reply | Private Reply | To 1 | View Replies ]


To: Nextrush
"The analysis, from wealth intelligence firm Altrata, defines these people as those worth more than $30 million."M

Iin my view, $30 M is hardly ultra wealthy, though it's certainly comfortably wealthy. Look at it this way: Most retirement guides say that if you safely invest your wealth, you can take no more than 4 percent a year as income in order to preserve your wealth and keep even with inflation.

That would mean that you would have an income of about 1 million a year. Given that state and local taxes get half of that, your spendable income would be about a half mil a year. That's comfortable, for sure, but you don't get a private jet, foreign mansions, or new trophy wives or hubbies for that.

28 posted on 10/05/2025 3:57:10 AM PDT by norwaypinesavage (Freud: projection is a defense mechanism of those [Leftists] struggling with inferiority complexes)
[ Post Reply | Private Reply | To 2 | View Replies ]

Free Republic
Browse · Search
General/Chat
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson