How the rich avoid paying taxes

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Title	:	How the rich avoid paying taxes
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If you want to learn more about the US tax system, check out ProPublica's investigation into the wealth and taxes of some of the richest people in the country They obtained IRS records of billionaires like Jeff Bezos and Elon Musk that specifically show how the rich get away with paying little to no taxes br wwwpropublicaorg/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax
Comment from : Vox

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
Comment from : Die Fake News Klinik (Michael Hörl)

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 brbrI'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 brbrIt's pointless
Comment from : PS4 Games

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
Comment from : Jazz Monty Music

Abolish the IRS VOTE FOR THE NICE INDIAN MAN
Comment from : tj Cambre

Elon Musk paid $11 billion tax in one year a few years ago
Comment from : Gary david

4:15 very disingenuous to not mention inheritance taxes on this asset
Comment from : stevec7272

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
Comment from : Rambunctious

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
Comment from : Lucas

That's an interesting topic
Comment from : Financial Glitch

On the thumb nail you show the man that has paid the IRS the highest private single year tax in the country history…
Comment from : Generallyannoyed2024

It seems a uniform international Estate Tax Law ( should start at 51 ) would fix problem
Comment from : Glenn Hertel

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

Is Your Trust Fund Invalad?
Comment from : Glenn Hertel

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
Comment from : So I Think Im A Gamer

I don't pay taxes, that makes me smartbr - DonaldJTrump
Comment from : siu20

I hope to graduate from Youtube University brThanks Professor for the valuable Lecture
Comment from : Alfredo Matias

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

Where is this 50 increase please
Comment from : Connor Games

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?
Comment from : J Anonymous

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
Comment from : Raw Financial News

If I pay on a gain not realized, do I get a credit on a loss not realized? brAnd 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"!
Comment from : Danielle Kohler

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
Comment from : Kylfá Fröknulf

People forget more billionaires hire millions of people that should be a tax discount in itself
Comment from : TRGF_GraphiteVoid

2:00 Gigachad
Comment from : M P

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
Comment from : D Biddy

A more truthful title would be ; Money dispels the lies of the bureaucracy and the legal establishment
Comment from : edriquez57

i dont agree with making the rich pay more taxes
Comment from : casblz

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??
Comment from : Derrick D Lake

The middle class pays a higher percentage than billionaires, the rich are thieves who use every possible legal trick to get their income tax freebrThey paid hundreds of tax lawyers to find the loopholesbrPoor people get ripped off
Comment from : Economie Libérale

Nice try Socialists!brbrPaying tax on assets before they are sold means paying more tax than the taxpayer normally gets revenuebrbrIf we have to pay taxes on unsold gains, will we get a credit for each unsold loss?brbrIf not, that form of taxation is Socialism When that form of taxation is enforced, it’s called Communism
Comment from : R Dee

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!!!!
Comment from : Kiddthegreat

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

But they dont explain there is also a risk Job is not a risk
Comment from : Juan Pablo Osorio

pls pay your taxes ukraine needs more money
Comment from : bob

Blame the game, not the player Most of the time, rich people use loopholes or reinvest in their business
Comment from : The Blitzer

very informative
Comment from : Mostafa shreif

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
Comment from : bob fletch

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
Comment from : Jared Laflamme

Corrupt
Comment from : Lane Hoffner

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
Comment from : Eye4Skillz

Who cares They employ thousands of people
Comment from : Eye4Skillz

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
Comment from : Fizzy Plazmuh

Heres a solution get rid of all income taxes
Comment from : dcavic6157

Lol taxes keep u poor end of story Why u think rich people got money & influence the government to keep adding loopholes lol
Comment from : Michael Mayo

Pay your tax bills! What a tax handout They wonder why the country is falling apart
Comment from : T181T

Let’s put a couple things into perspective before taking this video too seriously brbra) the top 25 of the population pays about 60 of all income taxes and the top 50 of the population pays about 80 of all income taxes Pretty sure the top half is paying more than its fair share brbrb) tens of millions of tax dollars have been confirmed to be wasted on:br- sending money to foreign countriesbr- teaching foreign countries how to acquire that moneybr- determining if hot tubs reduce stressbr- determining the effects of being drunk and falling over, and br- transgender research of apesbrbrThis is but a few drops in the ocean that is wasteful spending by the federal government brbrhmm, question: isn’t it more productive to demand that millions of tax dollars stop being wasted than going after a few billionaires who might owe a few hundred thousand in taxes?brbrc) A large portion of this video is bashing capitalism, and news flash: capitalism has historically been the best type of economy ever Capitalism 101: Low risk generates low rewards, the same as large risk generates large rewards Stock taxes are low BECAUSE of the high risk they impose
Comment from : rathofturkey

ira giveaway
Comment from : Paul Sypersma

Rich people with businesses still pay most income tax Even if you have a small llc you can be given breaks It's supposed to benefit the economy provided you're not stuffing the money away
Comment from : Donnny Donowitz

NOT ANY MORE
Comment from : Holly Kelley

What is more equitable is a single rate income tax of 12 to 15 Making the rate the same for everyone Government must operate within its budget No more giveaways to foreign countries, almoneis must be paid back, no more foreign incurtions, no grifter programs, slash social programs that dont have positive results, cut government employees! thats just a start!
Comment from : Jon Green

The video is technically correct but the way the "facts" are presented is a bit skewed The system is a lot more complicated and in reality, quite fair If you have investments or own a business you'd understand
Comment from : david lagos

Why not talk about your owners
Comment from : Avikal Mann

but wouldn't raising capital gains make investing less lucrative as a way for people of lower classes to climb the ladder?
Comment from : slapping terps

one of them holds the risk
Comment from : AR-15enjoyer

Easiest approach is to stop pretending that stock or stock options paid to billionaires aren't employment income Treat the MV of the stocks as salary and problem solved
Comment from : allialliw

Karma
Comment from : Houston713

Every family has that one person who will break the family financial struggle, I hope you become the one💯
Comment from : Real stock market

Warren Buffett is the embodiment of 'hate the game, not the player' What a legend
Comment from : signor doge

You can thank the republicans for that
Comment from : SHAZAM !

He can always send a check directly to the treasury if he thinks he isn't paying enough!
Comment from : Evan Erickson

who els here trying to avoid taxes loll
Comment from : will Holly

People has no power at all
Comment from : Iryna Sunny

Let’s also change the way government employees get paid - if they haven’t got the country out of debt while in the office - they do not get paid and all of their benefits including pension fund is cancelled
Comment from : A N D R E Y

Don’t you guys think the government is taking wayyyyy more than enough for taxes as it is and now they want even more?
Comment from : AtomicTwist

Own nothing, control everything
Comment from : Dark Galaxy

I’m not sure why we would tax the money of a stock before it’s sold If you have a stock worth 1 million dollars, on paper you have 1 million dollars but you can’t spend it It’s just the value of the stock you own If you sold that stock, you would earn the money after the government taxed it
Comment from : Mrdollyman567

I have a hot take and a radical ideabrWe cut government spendingbrThat way we can lower the taxes on everybody, take power from the elites, ensure the government has to manage a budget and get our economy functional again
Comment from : Golden Redder

Taxes are unconstitutional and damper gdp & growth into the economy What is the gov doing with the 8 trillion of taxes they already have ? Bailing out banks and funding wars Elon has done way more than the government with way less He is literally creating jobs and stopping climate change The whole reason we fought the revolutionary War was taxes we forgot were we came from
Comment from : professor G

Freedom Toons made you look real bad The Debunkers ate your lunch
Comment from : Michael Woodall

Is almost depressing that some of us hard working middle class have to file and pay the IRS every year Like we are being punished for not being rich
Comment from : Byron Jasper

Let's try this, why not force the "government" to make it's income by actually being productive in it's own right?
Comment from : Steven Casteel

The deception the corruption fraud scams brTax evasion Racteering Bla blah blah
Comment from : Damian Lenard

Dolla Dolla bill y'all taxes are good sometimes for the potholes in road in winter
Comment from : Damian Lenard

Yeah, tax an unsold stock, what a brilliant ideabrDid those guys huff too much paint thinner?
Comment from : Marian Nestos

Taxation is theft
Comment from : Highway Boy Jon

There’s one thing I gotta point out When Vox talks about the unsold stock being untaxed, it’s because stock prices constantly fluctuate so all that wealth is “theoretical” until they sell
Comment from : Ploopy Face

Greed Destroys!!!
Comment from : Gerald Butler

Politicians make the laws and use the tax loopholes For themselves without the Rich, they would be no jobs
Comment from : Emmett Mitcham

FREEDOMTOONS GOYS
Comment from : ramanauskiene edita

Freedomtoons did a far more in depth video on this subject I highly recommend you see it if you thought this was good
Comment from : WWII Trophy Luger PO8

200-400 billion dollars over 10 years! 😮‍💨 only 318 trillion to go!
Comment from : ACE NOIR

The rich in America are also the trash of America
Comment from : Jay

The Debunkers just wrecked you
Comment from : drno62

Pure disgusting disinformation from socialists that wants to steal my hard earned moneybrbrNo, sorry you won'tbrbrTaxation is theft
Comment from : Hamphield D Phoenix

You know nothing prevents buffet from just giving money to the government? There’s literally a line on the tax form that asks if you just want to give the government money
Comment from : charles hetrick