I mean this in a negative way:
How much does he have left? Can't be used up by any stretch of our imagination . . . .
On $12M there'd be at least 10% taken right off the top for his agent. If he had a manager or management team, there'd be another 15%, so figure $9M before taxes. Then:
Tax Type.........Marginal Tax Rate...Effective Tax Rate..........Amount
Federal.................39.60%..................37.40%..............$3.365,801
FICA.......................2.35%....................2.41%............... $217,011
State..................... 5.00%................... 4.97%............... $447,168
Local..................... 2.25%....................2.25%............... $202,500
Total Income Taxes.................................................................... $4,232,480
Income After Taxes.................................................................... $4,767,520
Substract binge spending on clothes, cars, watches, sneaker collection & tattoos, mama's house, his own overpriced pad, stupid investments, making it rain & cases of Cristal, out of town trips with the posse, & leach money, and he's probably got about eighty bucks left. Maybe he put $40K away in an IRA, but who knows?