2min chapter

Animal Spirits Podcast cover image

The Worst Chart in Finance (EP.301)

Animal Spirits Podcast

CHAPTER

The Millionaire Mansion Tax in Los Angeles

There's a millionaire mansion tax that's going into effect in Los Angeles. The 4% tax on property sales above 5 million must be paid by the seller. I just think it's hilarious that someone would honestly think owning a $5 million home does not make you a millionaire. This chart is weird. Why was there a spike in 2017 for feeling confident? There's too much noise. People have access to too much.

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