I find it very hard not to feel angry about the unfairness, and intransigence of the wealthy in this country.
Why should I work so hard, to get so little, when these people have a leg up on everything. And I don’t count myself as that bad off, in fact I’m, overall, goin pretty well.
Sooo… I suspect that this is dramatically misleading.
Suppose you earn $90k a year, you haven’t been able to save very much because hey… its tough out there.
Grandma passes away and leaves you $200k in shares, maybe she bought them for $100k 10 years ago.
You sell them so you can have a deposit for your first house.
Boom, the sale of the shares makes your taxable income in the top 10%, but you’re still not particularly wealthy.
Yes the CGT discount is shit but this graph just says water is wet.