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Mark Cuban is ‘proud to pay’ $275.9 million in taxes
(www.cnbc.com)
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this post was submitted on 16 Apr 2024
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That's 20% of his listed net worth. On an annualized basis I'd say it's pretty fair.
His networth is 5.4 billion. 20% of that is a bit over a billion.... So not really.
I think you divided 5.4 billion by $275 million. Saw that it came out to almost 20. That means it's about 5%. Easy mistake to make. I do it all the time.
Ahh yeah you're right.
i believe networth is what his money is for companies he owns/has stock in, not what he makes every year
Yep, That's the number I gave.
Income tax is over annual income, not your net worth, which, if, you're smart, is mostly in investment portfolios in real estate and/or securities.
Your available liquid assets on-hand as a billionaire, should be very small.
Less than or equal to the year-on-year inflation rate as a percentage of my assets would be my rule of thumb for cash, but that's my own pie-in-the-sky arbitrary bullshit.
Yep I know this. If you look at the comment I was responding to. They said that he paid 20% of his net worth in taxes in a year. Which was not true. The comment or even replied that I was right. It's just a math error. What you're talking about is irrelevant. 🤷
I feel like that sounds mean but I'm not trying to be. You make very good points. It's just not relevant to what was being said.
Then why do I pay 36%?
You pay 36% of your annualized income, not the totality of your net worth. I didn't dig to find his actual income for the year so I cannot speak on that percentage comparison.