You make $100. You pay 20% tax, so $20. You invest that $80 in a st ...

You make $100.

You pay 20% tax, so $20.

You invest that $80 in a stock.

Stock goes to $200.

You pay $48 tax.

You did all this right. You made it, you invested it properly, you were “right” about your stock pick. All the risk and you don’t get all the reward.