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You have an investment portfolio worth $1m. You earned a return last year of $50,000 on your portfolio and paid a combined federal, state, and
You have an investment portfolio worth $1m. You earned a return last year of $50,000 on your portfolio and paid a combined federal, state, and local tax rate of 40%, which is $20,000. If inflation was 10% over the course of the year, explain precisely and exactly how you were affected by the burden of inflation
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