How the rich avoid paying taxes

I don't get it. If they want to buy a house for 1 million, where do thet get the money if they don't sell their stocks?

Why don't lower the taxes of Buffet secretary from 37% to 20%?
We, common folk rather would f'up the rich people who produce things and allow the goverment pests who do not produce anything to steal from both of us.
I ask - why?
Why we want someone to steal our money if he simply [as an owner] can print, and DO PRINT, this money anyways?

in soialist Europe like Austria the poor donot pay taxes. No taxes up to 1100 USD a month, nearly no taxes up to 1800 USD. There pension get s massivly subsidized bei the rich. Many poor get 1000 USD pension without paying any taxes during their hole life...

You can't tax the rich. Isn't as easy as to go to someone, put your hand into his pocket, see what he have and take the tax out of it. Taxing the rich mean all the money in the world to be counted every month. Are you kidding me? No one would do that even with super computers. CBDCs? Are you kidding me? CBDC would highlight every dollar spend for drugs and prostitution. The criminals would use all their power to remain in the shadows. And even if CBDC is established by some miracle that would mean total control of the government over the population because it would make environment for automatic fines and social credit system. All because you want to put YOUR hand in someone's pocket. Exactly the one who giving you the job you have and enjoy. But in the best case if CBDC or some variant of it is established and doesn't lead to total state control, tell me who on earth would risk real banking with digital banking? Imagine your savings (especially if millions) in digital account (no gold backing, no notes, no paper documents, no anything) and tell me if you feel ok with this. No? Well yeah. No one can tax the rich. You just can't.

I'm not any expert actually. I don't claim any expertise. But even for me is obvious that if some miracle happen and God tax the rich the one who going to pay for their taxes is... guess who... the employees lol

It's pointless.

Income tax cannot be applied on those who never work. Wealth tax is the only thing to apply on these ultra capitalist, who pays our politicians to AVOID making a wealth tax a law. And the biggest grifter of them all was right: the system is rigged. Bravo to Trump for telling the truth and doing nothing about it. HE HAD a chance.

Abolish the IRS VOTE FOR THE NICE INDIAN MAN.

Not to entertain corruption. If, anybody entertain the corruption, then, that person is also corrupted doing good sized crime.

Elon Musk paid $11 billion tax in one year a few years ago

Anyone against taxing the rich, just tell me this: why should a doctor or a teacher be less well off than Jeff bezos or Elon musk.

If they had to pay taxes they’d be fcked so I think it’s ok😂 I’d do the same if I was making millions

That's an interesting topic

On the thumb nail you show the man that has paid the IRS the highest private single year tax in the country history…

It seems a uniform international Estate Tax Law ( should start at 51% ) would fix problem.

Yes thanks to the Republicans traitors because they don't want to tax the richest because they have to look for their wealthy donors

Is Your Trust Fund Invalad?

I don’t agree with this… we are comparing apples to oranges. Employment taxes is higher because you are forced to investing almost 8% of your earnings to social security and Medicare. Which was only founded because 90% of the population is reckless with their money and are broke and suffering by they time they reached an age they can no longer work. Capital gains tax is taxed less because it doesn’t contribute towards either of those two taxes meaning you don’t build up credits for retirement later on in life. It also doesn’t make sense hypothetically if we are both given a batch of potato and you decide to eat it all because you are hungry at that moment and I chose to starve in the moment and plant some potato so I won’t be hungry later. Why should I be punished for making a sacrifice that’s beneficial to my future vs you who were just thinking of the moment and made poor choices. Also the rich play less because they live off their companies and write off most of their personal living expenses. It’s not hard to make a company buy a house or a car and rent it to yourself at a loss. The company now has a write off for future income and you get a massive discount on your purchases. That are also protected if you’re ever sued because you don’t own them. It’s not about being taxes equally it’s about learning to use the laws as a tool.

I don't pay taxes, that makes me smart
- Donald.J.Trump

This is absurd, the richest people pay almost all of the total amount of tax dollars collected. It makes sense to tax the capital gains lower because there is risk associated with that income, some years you could stand to lose alot of money. Having a job sux, but the taxes arent whats killing you, in fact you might only have the job at that pay because companies get to lower their tax by hiring you with their profits.
Then theres the question of what is actually done with the taxes collected, it is used in the most inefficient manner imaginable and you want people to buy into this system even more?

Biden is also among those who will get his wealth inherited by his successor amd use the loophole

Where is this 50% increase please.

Sounds like a great idea! Now I just need to earn a lot of money taxed at 37%, then not spend it and invest it. Risk losing everything I saved and then I get to only pay 20% on that money as long as I let it sit for a year or more, if not I have to pay another tax rate of 37% on gains.

So, if the "wealthy" aren't paying their "fair share," explain how the top 50% of earners pay 97% of all the taxes in the country. Also taxing unrealized gains to "stick it to the billionaires" would affect normal people's retirement plans as all of those involve building unrealized capital gains from stock throughout their lifetime, just like Warren Buffett did. Guess you don't mind working until you drop dead, huh?

"Our system is making the rich get richer, and richer and richer and everyone else, not. " - A Millionare❤

High taxes don't create middle class. The taxes on capital gains encourage people to buy and hold, the majority don't pay that much in tax (total tax on $50k, what percent is the total income tax?) Also, if you take loans on stock you lose those interest payments; if you sell you lose future gains.

If I pay on a gain not realized, do I get a credit on a loss not realized?
And why not lower taxes on the "middle class" Why is the government always wanting to raise taxes, I say it makes more sense to lower rates so all income is treated equally when realized [into real cash]. Investments whether stocks or owning a business are NOT savings accounts, they are a RISK of LOSS and Gain. This video represents FALSE logic. Just think about it. How many of us invest for our retirement, this would Destroy Small Businesses because of the demonizing of the "RICH"!

Its a good system but the only way to have them paying similar tax is to charge a wealth holdings tax. But you cant charge them the missing up to 17% that income tax people on top pay because every billion you hold is now losing up to 170M x Billions held no one would go for that.

People forget more billionaires hire millions of people that should be a tax discount in itself.

Typing imaginary numbers, producing imaginary results. Not really producing anything tangible or beneficial to the community, avoiding taxes while the working class has less "imaginary numbers" to work with to make the numbers bigger on the computer screen as well as getting taxed harder comparatively to their income and net worth.

A more truthful title would be ; Money dispels the lies of the bureaucracy and the legal establishment .

i dont agree with making the rich pay more taxes

The financial system has been artificially pumped for over a decade to ensure big pockets were lined; and now those same hands will make a fortune in the largest transfer of wealth in human history by shorting it on the way down. Inflation does have a roll, but that's to keep everyone panicked, and focused on their bills and expenses, rather than focus on the capital crimes of politicians and corporations,I'm still at a crossroads deciding if to liquidate my $338k stock portfolio, what’s the best way to take advantage of this bear market??

It seems like the best thing to do is just learn how to trade well and make your bag then we can just eliminate giving the gov't any of our dough. Enriching the IRS won't fix anything I don't believe. It will just empower the poisonous entity that is already

The middle class pays a higher percentage than billionaires, the rich are thieves who use every possible legal trick to get their income tax free.
They paid hundreds of tax lawyers to find the loopholes.
Poor people get ripped off.

Nice try Socialists!

Paying tax on assets before they are sold means paying more tax than the taxpayer normally gets revenue.

If we have to pay taxes on unsold gains, will we get a credit for each unsold loss?

If not, that form of taxation is Socialism. When that form of taxation is enforced, it’s called Communism.

However that stock would be worth if and when the market crashes it will happen again. It should have crash years ago but the federal reserve keep pumping it up. Also banks go under and get bailed out by US!!!!

That great but the average person doesn’t have the money to invest in stocks to make a living

But they dont explain there is also a risk. Job is not a risk.

pls pay your taxes ukraine needs more money

Blame the game, not the player. Most of the time, rich people use loopholes or reinvest in their business.

very informative

I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.

I feel like if the person studied hard and went to college and worked hard to get to the place they are at kinda deserve it a lot of poor people are just lazy don’t have the same work ethic or mindset and why should they be punished for that and this is coming from me a person who makes 30 k a year

Corrupt

How much of my money that I work for is a fair share. What is a fair share of what I work for to give to people who don’t work. What do I owe the lazy people who don’t want to work What’s my fair share of what I earn to give to you who doesn’t earn What’s fair How about I keep my money You keep yours I give you nothing you give me nothing

Who cares They employ thousands of people.

They simply donate to politicians to rewrite the tax laws for them. Buffet is comfortable admitting the truth because he knows his rich friends will still donate to buy politicians and justices.