Row 47861

Row ID: 47861 | Dataset Entry | Axioma AXP Content Repository

Content Data

This page contains data entry 47861 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

You start with nothing. Income tax is a flat 20%.

You earn $50k, and you put all of it in a 401k. You have never paid income tax.

You take $50k as a 401k loan. Now you have lifetime earnings of $50k, $50k in your pocket, and lifetime tax paid of $0.

You do whatever the fuck you want with the $50k. Doesn't matter.

You earn another $70k. You pay $14k income tax. You repay the 401k loan.

Your lifetime earnings is $120k. Your 401k has $50k in it. You have $6k in cash and $50k that you did whatever the fuck you want with. You pay $14k income tax, resulting in a lifetime tax of $14k on $120k income. This is a tax rate of 11.67%, but income tax is 20%. Sounds like you haven't paid all your tax due yet.

You retire and withdraw the remaining $50k from your 401k. You pay $10k in tax. In your life, you earned $120k and paid $24k tax. This is the income tax rate of 20%. You never paid tax twice on the same dollar at any point.

FieldValue
text You start with nothing. Income tax is a flat 20%. You earn $50k, and you put all of it in a 401k. You have never paid income tax. You take $50k as a 401k loan. Now you have lifetime earnings of $50k, $50k in your pocket, and lifetime tax paid of $0. You do whatever the fuck you want with the $50k. Doesn't matter. You earn another $70k. You pay $14k income tax. You repay the 401k loan. Your lifetime earnings is $120k. Your 401k has $50k in it. You have $6k in cash and $50k that you did whate…
label r/investing
dataType comment
communityName r/investing
datetime 2024-05-22
username_encoded Z0FBQUFBQm5Lak1SanBhMnB2bFR2RnJfUk80bXNhd3IxcW04V2FTZ050azFld0FDbFRWbldJOTFUcmJZVlA4SHp2T0ZCU2pnbEE5aUdlVDI1VVN3WUcyZHNoZ1BpRjk1eGc9PQ==
url_encoded Z0FBQUFBQm5Lak9nVFVxSXNVcWxNMl8wTWFyMG5ac2NBQ0NkLXE5cXhMWDhXdV9KRmZsUmVPR2g3ZEJCTFRuY0JBNGxNUEwyZVpZaE1BRHEtT0RhWFQyODItQVNxekItVXdSMmE2Ni1tUF9DcmpaVUUyb0dyYnN6bUE3SFFPYXBnQzkzekItdkpGWk95UHpsXzJJUHE4b1JFeUtfV3U4bDdNeVRFblRKTEc4OFI3c05kV3k0SXQ1bll4TzhGNWp3NnZpN293TVlaNmkxc3RCWXJmSEgtTGtLMm5xY3NDazFFZz09

Raw Record

{
  "text": "You start with nothing. Income tax is a flat 20%.\n\nYou earn $50k, and you put all of it in a 401k. You have never paid income tax.\n\nYou take $50k as a 401k loan. Now you have lifetime earnings of $50k, $50k in your pocket, and lifetime tax paid of $0.\n\nYou do whatever the fuck you want with the $50k. Doesn't matter.\n\nYou earn another $70k. You pay $14k income tax. You repay the 401k loan.\n\nYour lifetime earnings is $120k. Your 401k has $50k in it. You have $6k in cash and $50k that you did whatever the fuck you want with. You pay $14k income tax, resulting in a lifetime tax of $14k on $120k income. This is a tax rate of 11.67%, but income tax is 20%. Sounds like you haven't paid all your tax due yet.\n\nYou retire and withdraw the remaining $50k from your 401k. You pay $10k in tax. In your life, you earned $120k and paid $24k tax. This is the income tax rate of 20%. You never paid tax twice on the same dollar at any point.",
  "label": "r/investing",
  "dataType": "comment",
  "communityName": "r/investing",
  "datetime": "2024-05-22",
  "username_encoded": "Z0FBQUFBQm5Lak1SanBhMnB2bFR2RnJfUk80bXNhd3IxcW04V2FTZ050azFld0FDbFRWbldJOTFUcmJZVlA4SHp2T0ZCU2pnbEE5aUdlVDI1VVN3WUcyZHNoZ1BpRjk1eGc9PQ==",
  "url_encoded": "Z0FBQUFBQm5Lak9nVFVxSXNVcWxNMl8wTWFyMG5ac2NBQ0NkLXE5cXhMWDhXdV9KRmZsUmVPR2g3ZEJCTFRuY0JBNGxNUEwyZVpZaE1BRHEtT0RhWFQyODItQVNxekItVXdSMmE2Ni1tUF9DcmpaVUUyb0dyYnN6bUE3SFFPYXBnQzkzekItdkpGWk95UHpsXzJJUHE4b1JFeUtfV3U4bDdNeVRFblRKTEc4OFI3c05kV3k0SXQ1bll4TzhGNWp3NnZpN293TVlaNmkxc3RCWXJmSEgtTGtLMm5xY3NDazFFZz09"
}
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