lol my first reaction to this is that your boy should take on some overhead. it’s deductible. are you just straight paying taxes on $1.4m of revenue?
Matt Yglesias is taking in $1.4 million a year on Substack. His only overhead is his managing editor (who is also his wife) www.businessinsider.com/matt-yglesia...
The political writer — and as of the last four years, a small business owner — on the upside of unbundling.
It is why his wife is his employee (taxes, and she gets Social Security credit, which matters). "No overhead" is probably relative, as far as taxes go. There are plenty of expenses he can take before taxable income, like computers, travel expenses, home office, etc.
He definitely has some overhead. His wife is an employee, and he's got one or two others who are on payroll and presumably getting benefits (employment tax will if course be different than revenue). I'd be $1m or more is revenue, but not the whole 1.4
The upside for me is I usually don't have to read his stuff on more widely available media.
The top tax rate is still ridiculously low…
He's keeping his head low with the IRS b/c he doesn't want them looking into his I'm-sure-totally-above-board ties with Effective Altruism
Also, it seems like he could actually afford to have a real small journalism operation and do meaningful work while still walking away with a clean million a year, but I guess he just wants to be a well paid Glenn Greenwald knockoff.
My first reaction is to ask, "who is reading this disgusting fucking hack?"
Why do the worst and shittiest people get paid a ton of money to be shitty
Bros are out here rawdogging long flights and revenue
I assume he's maxing out his SEP or maybe running a defined benefit scheme, so its less than that even without overhead