Escape# Question

[lordchriscole]

I had a question for mj about the escape number equation I just finished the new book but I was wondering on every step that is in the pdf do I calculate the countries highest tax bracket or my state? Also do I add the carrying cost like kids ,health insurance and entertainment cost and existing cost to assets after I multiply 1.5%?

 

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[MJ DeMarco]

do I calculate the countries highest tax bracket or my state?

Both, and add.

For example and for simplicity:

Fed Tax Rate: 40%
State Top Tax Rate: 5%

45%.

It's really interesting (And DISHEARTENING) when you see how much $$ one needs to earn on a pre-tax basis for things.

You want to own a $5M house free and clear? You really need to earn around $9M to amass $5M.

 

[lordchriscole]

Both, and add.

For example and for simplicity:

Fed Tax Rate: 40%
State Top Tax Rate: 5%

45%.

It's really interesting (And DISHEARTENING) when you see how much $$ one needs to earn on a pre-tax basis for things.

You want to own a $5M house free and clear? You really need to earn around $9M to amass $5M.

oh that makes more since and yes it is a little bit but its the cost of freedom. Right?

 

[Kak]

oh that makes more since and yes it is a little bit but its the cost of freedom. Right?

No. It is quite literally the anti-freedom. It’s proportional slavery.

We define ourselves more often than not by our life’s work, the projects we put in to the world. This is robbery of our very humanity.

You are expected to work 6 months of the year for someone else. Someone that tells you what to do and threatens you with force.

Don’t ever let them convince you that taxes are for your own good. They aren’t.

 

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[lordchriscole]

Both, and add.

For example and for simplicity:

Fed Tax Rate: 40%
State Top Tax Rate: 5%

45%.

It's really interesting (And DISHEARTENING) when you see how much $$ one needs to earn on a pre-tax basis for things.

You want to own a $5M house free and clear? You really need to earn around $9M to amass $5M.

hey MJ I did my escape# and it came out to be 37,097,682.32 does that sound right? or did I mess something up.