401k and IRA contributions have limits. If you have good income and are serious about saving you will run into them.
If you're a billionaire and able to get a line of credit on your portfolio at 3% to pay expenses without selling shares, you will never run into this tax. Warren Buffet, Elon Musk, et al will never be affected by this. If you're a doctor or lawyer who isn't wealthy enough to get those sub-prime rates on equity lines of credit, you will.
401k and IRA contributions have limits. If you have good income and are serious about saving you will run into them.
If you're a billionaire and able to get a line of credit on your portfolio at 3% to pay expenses without selling shares, you will never run into this tax. Warren Buffet, Elon Musk, et al will never be affected by this. If you're a doctor or lawyer who isn't wealthy enough to get those sub-prime rates on equity lines of credit, you will.