The Great Wealth Transfer has begun: Cerulli Associates reports that baby boomers are set to leave a collective $105 trillion to their heirs by 2048, making Millennials and Gen Z much wealthier in the process [1]. For Ryan, this process has already begun. He’s dealing with the passing of his beloved mother, and the funeral arrangements, paperwork and all the tasks that come with the end of life. He is also faced with decisions that will affect his financial future: Ryan’s mother left him a portfolio of mu ...

The Social Security Administration now projects insolvency for its OASI Trust Fund by late 2032, after spending has accelerated under the One, Big Beautiful Bill Act. That means something will have to give over the next seven years. The government could trim benefits, raise the retirement age for benefits, raise taxes — or likely a combination of all three. Trending Now: Social Security’s Biggest Lie — Why ‘Full Retirement Age’ Isn’t What You Think Consider This: 6 Popular SUVs That Aren't Worth the Cost ...

韩股刚创下新高，总统就"泼冷水"，投资者怒了：说好的提振股市呢？ 在讲话中，李在明再次强调了韩国股市被严重低估的现象，并表示其中一个原因可能是"需求不足"。 今年以来，Kospi指数已上涨约38%，成为全球表现最好的股指之一。分析指出，市场热情主要源于该 国正在进行的企业治理改革行动，以及全球AI热潮带来的提振。 李在明：没必要降低税收门槛，韩股仍被严重低估 李在明在新闻发布会上承认，7月底提出的资本利得税修订提案已引发市场对政府振兴股市承诺的质 疑。他表示： 周三，韩国KOSPI指数周三收于3314.53点，创下历史新高，超过了2021年7月6日创下的纪录，盘中一 度触及3317.77点。 在股市创新高之际，周四，韩国总统李在明在新闻发布会上表示，将把此前备受争议的资本利得税修订 提案交由国会决定。 这一暧昧的表态未能满足投资者对政府彻底放弃该计划的预期。韩国KOSPI指数在李在明表态后抹去早 盘0.9%的涨幅，截至发稿涨幅缩窄至0.2%。 这份于7月下旬提出的原始提案，旨在将征收资本利得税的个人股东持股门槛从50亿韩元大幅下调至10 亿韩元，扩大征收范围。该提案当时遭到了韩国散户的强烈抵抗，并引发了一轮抛 ...

Core Points - The South Korean government, led by President Lee Jae-myung, unexpectedly introduced a comprehensive tax increase plan just two months into his administration, which includes significant reductions in capital gains tax thresholds, increases in securities transaction tax, and a rise in the maximum corporate income tax rate [1][2] - The announcement has sparked strong public opposition, with a petition to withdraw the capital gains tax plan gathering over 120,000 signatures, far exceeding the 50,000 needed to submit the proposal for parliamentary review [1][3] - The tax reform is projected to increase the annual tax burden on households and businesses by 8.2 trillion KRW (approximately 5.9 billion USD) over the next five years, marking the largest increase in recent years [3] Tax Plan Details - The proposal aims to lower the capital gains tax threshold from the current 5 billion KRW to 1 billion KRW (approximately 714,000 USD) [2] - The securities transaction tax rate will rise from 0.15% to 0.2%, and the maximum corporate income tax rate will increase from 24% to 25%, reversing the previous administration's tax cuts [2] - New rules for dividend income tax will impose a 20% tax on dividend income between 20 million and 300 million KRW, with a 35% rate on amounts exceeding 300 million KRW [2] Market Reaction - The tax increase announcement led to a significant drop in the KOSPI index, which fell by 3.9%, marking the largest single-day decline since April [1][2] - Investor confidence has been severely impacted, with market experts expressing disappointment over the sudden nature of the tax proposals, especially during a period of structural reform in the South Korean capital market [2][3] - Concerns have been raised that the higher capital gains tax could lead to long-term undervaluation of the stock market, as major shareholders might sell off stocks at year-end to avoid taxes, potentially destabilizing the market [2][3] Political Implications - The stark contrast between the government's current tax policies and President Lee's campaign promises, which included a goal of pushing the KOSPI index to 5,000 points, has led to a crisis of confidence among investors [4] - The government's need to find funding sources for consumer stimulus policies due to declining tax revenues from economic slowdown has prompted these tax reforms, which may further alienate retail investors and weaken corporate competitiveness [3][4]

Group 1 - Over 120,000 people in South Korea have signed a petition to halt the recently announced capital gains tax increase plan, surpassing the required 50,000 signatures for parliamentary review [1] - The South Korean stock market experienced a significant decline of 3.9%, marking the largest drop since April of this year [1] Group 2 - The tax increase plan announced by the South Korean Ministry of Finance includes a substantial reduction of the capital gains tax threshold from 5 billion KRW to 1 billion KRW (approximately 714,000 USD), an increase in the securities transaction tax rate from 0.15% to 0.2%, and a rise in the maximum corporate income tax rate from 24% to 25% [2] - New rules for dividend income tax have been introduced, imposing a 20% tax on dividend income between 20 million and 300 million KRW, and a 35% tax on amounts exceeding 300 million KRW [2] Group 3 - The unexpected tax increase plan has severely impacted investor confidence, with market consensus initially expecting only a moderate rise in corporate tax rates and new dividend taxation proposals [3] - The proposal has faced strong opposition, particularly from retail investors, with over 30,000 signatures against the capital gains tax proposal by last Friday afternoon, indicating significant discontent among the investor community [3] - Warnings from investors and business groups suggest that this move could alienate a large and influential retail investor base and potentially weaken the competitiveness of South Korean companies, casting a shadow over the prospects for economic reform [3]

Group 1 - Over 120,000 people in South Korea have signed a petition to halt the recently announced capital gains tax increase plan, surpassing the required 50,000 signatures for parliamentary review, testing the ruling party's resolve to push the proposal through [1][3] - The tax increase plan includes significantly lowering the capital gains tax threshold from 5 billion KRW to 1 billion KRW (approximately 714,000 USD), raising the securities transaction tax rate from 0.15% to 0.2%, and increasing the highest corporate income tax rate from 24% to 25%, reversing the previous government's tax cuts [2] - The unexpected tax proposal has severely impacted investor confidence, with the Kospi index experiencing a 3.9% drop, the largest decline since April of this year, as investors express disappointment over the sudden announcement amid ongoing structural reforms in the South Korean capital market [2][3] Group 2 - The tax proposal has faced strong opposition, particularly from retail investors, with over 30,000 signatures against the capital gains tax proposal collected by Friday afternoon, indicating significant discontent within the investor community [3] - Investor and business groups warn that the tax increase could alienate a large and influential retail investor base and potentially weaken the competitiveness of South Korean companies, casting a shadow over the prospects for economic reform [3]

Core Insights - The article highlights the stark contrast between the tax obligations of ultra-wealthy individuals like Jeff Bezos and ordinary workers, emphasizing that Bezos has managed to pay an effective tax rate of approximately 1% on his wealth growth, while average workers face rates between 20% to 30% [2][6]. Group 1: Wealth Accumulation Strategies - Bezos's wealth accumulation strategy is based on the principle of "never selling," allowing him to avoid capital gains taxes by not liquidating his stock holdings, which continue to appreciate in value as Amazon grows [3]. - The article suggests that entrepreneurs should focus on long-term investments in high-growth assets and avoid frequent trading to minimize tax liabilities [3]. Group 2: Financial Leverage - The principle of borrowing rather than earning is discussed, where wealthy individuals use loans against their assets to fund large purchases without incurring tax liabilities, as loans are not considered income [4]. - Entrepreneurs are encouraged to utilize debt financing to optimize their capital structure, ensuring that the return on investment exceeds the cost of borrowing [4]. Group 3: Wealth Transfer and Tax Strategies - The article explains the strategy of leaving wealth to heirs without incurring taxes, as heirs benefit from a step-up in basis, effectively resetting the capital gains tax liability [5]. - Entrepreneurs are advised to consider trust structures and family funds to legally minimize tax burdens during wealth transfer, ensuring the continuity of family wealth [5]. Group 4: Income vs. Capital Gains - A key distinction is made between labor income, which is subject to higher tax rates, and capital income, which can be managed to incur lower tax rates through strategic planning [6]. - Amazon's global effective tax rate is noted to be as low as 1% to 12%, achieved through tax credits and strategic profit allocation to low-tax jurisdictions [6]. Group 5: Tax System Insights - The article concludes that the tax system primarily targets income tax rather than wealth tax, allowing the ultra-wealthy to structure their finances in a way that minimizes taxable income [7]. - Entrepreneurs are urged to study wealth management principles and leverage tax policies and financial instruments to enhance wealth accumulation and protection [7].

Core Viewpoint - The unexpected tax increase plan introduced by the new South Korean government has led to a significant market downturn, contradicting previous promises to boost the stock market and investor confidence [1][5][7]. Group 1: Tax Increase Details - The tax plan includes a substantial reduction in the capital gains tax threshold from 5 billion KRW to 1 billion KRW (approximately 714,000 USD) [5]. - The securities transaction tax rate will increase from 0.15% to 0.2% [5]. - The corporate income tax rate will rise from 24% to 25%, reversing previous tax cuts [5]. - New rules for dividend income tax will impose a 20% tax on dividends between 20 million and 300 million KRW, and a 35% tax on amounts exceeding 300 million KRW [5]. Group 2: Market Reaction - The announcement led to a sharp decline in the KOSPI index, which fell by as much as 3.8%, with major stocks like Samsung Electronics and SK Hynix leading the drop [1][6]. - The South Korean won also depreciated against the US dollar, falling by 0.6% to a two-month low [1]. - Investor sentiment has been severely impacted, with over 30,000 signatures collected on a petition against the capital gains tax proposal, nearing the threshold for parliamentary review [6]. Group 3: Political and Economic Context - The tax increase is seen as a response to growing fiscal pressures due to slowing economic growth and declining corporate tax revenues [7]. - The government's actions contradict President Yoon Suk-yeol's campaign promise to improve corporate governance and push the KOSPI index to 5,000 points [7]. - Analysts suggest that this move could undermine public support for the government and deter foreign investors who were optimistic about the market due to reform promises [7].

2025.08.01 本文字数：2597，阅读时长大约4分钟 作者 |第一财经 后歆桐 美国政府稍早称将从8月1日起对印度输美商品征收25%的关税。印度商业和工业部长戈亚尔在议会重 申，印度将采取一切必要措施维护国家利益。 但荷兰国际分析师西卡莫尔（Tony Sycamore）称："目前，市场的反应仍算较为温和，我认为部分原因 在于近期与欧盟、日本和韩国的贸易协议确实起到了缓解影响的作用。此外，市场现在可能还认为，这 些贸易关税水平是可以重新谈判的，并且随着时间的推移，可能会进一步降低。" 关税叠加拟提高资本利得税，韩国股市领跌 当地时间8月1日的"关税大限"进入倒计时，据央视新闻报道，当地时间7月31日，美国总统特朗普签署 行政令，确定了对多个国家和地区征收的"对等关税"税率，具体税率从10%至41%不等。 受此消息影响，在隔夜美股三大指数均收跌后，今日亚太主要股指也集体低开低走。日经225指数低开 后跌幅迅速扩大至1%。韩国综合指数跌超2%，领跌亚太股指，一度跌近4%，SK海力士跌超4%。富时 新加坡海峡指数开盘跌0.11%，报4169.28点。MSCI中国A50互联互通指数期货开盘跌0.2%。上证指数 ...

Group 1 - The U.S. government has implemented "reciprocal tariffs" ranging from 10% to 41% on various countries, impacting market sentiment and leading to declines in major stock indices across Asia-Pacific [1] - The South Korean stock market has been particularly affected, with the composite index dropping nearly 4% due to both the tariff impacts and the government's plan to increase capital gains tax [7] - Japan's officials are closely monitoring the effects of U.S. tariffs on their economy, with expectations of potential pressure on exports and overall economic performance [4] Group 2 - The South Korean government has proposed a comprehensive tax reform that includes raising corporate tax rates and expanding the capital gains tax, which is expected to increase annual tax revenue significantly [7] - Despite the negative market reactions, some analysts believe that recent trade agreements with the EU, Japan, and South Korea may mitigate the impact of the tariffs, suggesting that the tariff levels could be renegotiated in the future [6] - The Japanese central bank is maintaining its current interest rates but is open to future increases, indicating a cautious approach to economic conditions influenced by U.S. trade policies [4]