Income and this income taxes are first derivatives of wealth. It doesn't make se... | Hacker News

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		Aunche on Aug 5, 2021 \| parent \| context \| favorite \| on: Wealthy people are renouncing American citizenship Income and this income taxes are first derivatives of wealth. It doesn't make sense to directly compare the two. The wealthy spend relatively little of their wealth on discretionary spending.

sobellian on Aug 5, 2021 | [–]

Ordinary income is not the first derivative of wealth, capital gains also contribute.

trainsplanes on Aug 6, 2021 | [–]

>The wealthy spend relatively little of their wealth on discretionary spending.

So they have unnecessary wealth just sitting around that they don't need.

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