Miễn là cổ phiếu báo giá thị trường cho thấy một xu hướng tăng, tài sản của ông sẽ tự động phát triển. Cuối cùng, và những gì là đặc biệt quan trọng, sở hữu cổ phần sẽ mở ra khả năng của hệ thống chơi trên thị trường chứng khoán. | government securities of which from 50 to 75 per cent bring in a tax-exempt By keeping big blocks of stocks a millionaire expects to get dividends but this is not his chief interest. These blocks give him the right to control a definite group of companies or to participate in their control and to enjoy colossal opportunities for enrichment and power associated with this control. As long as stock market quotations show a tendency to rise his fortune automatically grows. Lastly and what is especially important possession of shares opens the possibility of systematically playing on the stock market. By selling his stock at a price exceeding the one he paid the millionaire gets the difference which if there are many shares is quite considerable. . tax legislation provides a maximum tax rate of only 25 per cent for such incomes known as a capital gain a circumstance fortunate for the millionaires but by no means accidental. The share of stock market profits and subsequent capital gains in the general incomes of the wealthiest families is quite high. Here are the respective figures of the Treasury Department for Size of income thousand dollars Net profit on capital gains million dollars Gross income of the given group million dollars Capital gains per cent of gross income 50-500 . 2 416 15 703 500-1 000 . . . 298 568 Over 1 000 . . 464 790 More than 50 per cent of the income of the Very Rich comes from stock market speculation. It is profitable for the financial tycoons to sell even part of the stock of the companies they control if they are confident that their control is not challenged by At any rate they are always 1 But the Very Rich typically carry 25 to 30 per cent of their fortune in tax-exempt securities and some go as high as 75 per cent Mrs. Horace Dodge Sr. sank her entire 56-million legacy in tax-exempts lately these have been earning a pleasurable 3 per cent equivalent to a taxable return of 30 per cent Fortune .
