[seattle_spring]

> The tax rate wouldn't be 60% even at the highest marginal rate, which is 50.4%.

The Biden tax proposal also is adding a 12.4% social security tax for all income over $400k, and it's not split by employer and employee like the first ~$150k is now.

> The average tax rate is about 30%.

What's the average rate if it were realized equally over the 6 years it was earned? Do you feel it's fair this example person pays quite a bit more in taxes versus a similar employee who chose to realize a similar income at a bigco like Facebook?

[apex3stoker]

I couldn't find any solid proposal for social security tax, like not splitting between employer and employee or applying to long term capital gain. If it is implemented like you said, yes, it will push the highest marginal tax rate to above 60%.

If a person makes $1.2m paycheck over 6 year evenly, they have $200k paycheck per year. They are subject to about 23% of federal income tax, and about 7% of social security and medicare taxes, so the average tax rate is about 30%.