it's called "angel" investing because it's only one step removed from charity
But not really. I wish I could be that evil. I’d be a lot richer if I were willing to play that kind of game.
I raised my eyebrow at "everyone takes" standard deduction. How is that possible with home prices and interest rates? Even a modest 300-400k house at 5-6% interest, property taxes, local sales tax deductions and minimum charity would exceed the standard deduction. Where I live good luck finding anything more than a condo for less than a million.
Turns out 90% take standard deduction. This is another way to track the extreme "wealth" gap emerging. Only the wealthy itemize.
We're ~92nd percentile for household income.
I’ve never gotten close since it was raised.