this post was submitted on 29 Jul 2023
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Not being from the US I didn’t know that. That takes something from being completely unreasonable to be understandable.
I can’t believe some fake rich guy on the internet lied to us!
Still, if they’re not idiots the winner doesn’t have to work again so they’re still good.
Why would taxing a gross income of above a billion US$ by ~66% be "completely unreasonable"? Imo taxes for such incomes should generally be higher if anything.
You can take a lump sum payout or get it paid to you over 20 years. The lump sum is usually around 60% as the other poster said.