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This is why it's impossible to tax billionaires

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Amine666worldwatch

Duration: 1:51 Views: 7.5K Submitted: 2 months ago Submitted by:

Billionaires have mastered a system that lets them legally avoid paying income taxes and it all comes down to how they use their wealth. They don’t earn money like most people. Instead of getting taxed salaries, they hold stocks and assets that go up in value. But they don’t sell them because selling means paying capital gains tax. Instead, they borrow money against those stocks. Banks happily give them low-interest loans because they’re backed by billions in shares. This borrowed cash can fund anything jets, mansions, private islands - all tax-free, because loans aren’t considered income. And when they die? Their heirs inherit the stocks, and thanks to a rule called the “stepped-up basis,” the unrealized gains vanish. No one pays the tax. Not the billionaire, not the kids. It’s a system built for wealth to grow quietly and legally untouched

Categories: Conspiracy & Truth Finance, Bitcoin, Gold, Stocks

Tags: impossible taxing billionaire 666

2 +1 scanner721 2 months ago

Wow, Amine666worldwatch, if you actually knew anything, you'd definitely be dangerous!

MisterProgneto

2 +1 MisterProgneto 2 months ago

Elon was just smart. I have 401k's and I don't get taxed as long as it is in those accounts. When I start taking it out, that money will be taxed.

Why do all these liberals hate billionaires? Most of the ones that do hate them are rich themselves.

9 +1 Slickwad 2 months ago

Oh look, a rich liberal nut preaching to us about the evil being rich. Fuck you Trevor Noah.

5 +1 tommix1 2 months ago

That's a white south African.

2 +1 damajah0 2 months ago

this is how the jews are so rich

Galaga

11 +1 Galaga 2 months ago

total BS, "rich" people pay a tax rate of 47% and anyone that tries to tell you otherwise is a Leftist commie puke

3 +1 damajah0 2 months ago

@Galaga hes not talking about income tax you moron

MarGarTar

2 +1 MarGarTar 2 months ago

It is impossible to tax billionaires, because you are gullible and stupid, and you let their lives and contributions to society be valued significantly more than yours. You are a loser, if you continue to accept such theft of your own wealth. Americans are willing losers

Galaga

6 +1 Galaga 2 months ago

@MarGarTar you are an idiot

2 +1 damajah0 2 months ago

@Galaga ironic calling him an idiot

2 +1 JobyFluorine 2 months ago

@damajah0 Ironic calling him out for calling out an idiot... :blink:

9 +1 Theocritus 2 months ago

Basically, what people with a lot of assets do is borrow against the value of their assets, with the assumption that their assets will increase in value. A loan is not a taxable event. You can do this too. I plan on doing this myself, it's why I consistently stockpile assets that rise with inflation.

4 +1 JobyFluorine 2 months ago

@Theocritus I tried to stockpile beer, but I'm drinking up all my profits! Seriously, though, tangible, concrete assets are the safest way to build wealth. Most people struggle nowadays because we're constantly being conditioned to buy shit that no one needs, like a $1200 phone, or $300 sneakers.

MisterProgneto

1 +1 MisterProgneto 2 months ago

@JobyFluorine Right! and those people will never have anything, much less money to retire on.

9 +1 Theocritus 2 months ago

Income taxes are a really stupid way to raise revenue, because taxing productivity discourages productivity. Billionaires pay a lot of taxes, trying to tax the living F out of rich people will simply have the rich people moving to a more friendly tax jurisdiction. The rich are highly mobile. The problem is way too much Gibs Me Dats, not high enough taxes.

MisterProgneto

3 +1 MisterProgneto 2 months ago

@Theocritus We saw that in New York when their governor said they should move if they didn't like the high taxes. Now that most of them have left, she's begging them to come back to "support their 'generous' welfare programs."

9 +1 Theocritus 2 months ago

This guy is the poster boy for White Erasure, and it's happening quick.

L.X

5 +1 L.X 2 months ago

Someone who doesn't understand the difference between borrow and lend shouldn't be thinking about economics.

Gutshot

6 +1 Gutshot 2 months ago

His head is going to explode like that dude in the movie ‘Scanners’

Cripple

7 +1 Cripple 2 months ago

Someone PLEASE pay for that idiot commentator to take a class on Capital Economics 101 ......

He's an idiot convincing even more idiots that money, or assets, that you have in possession need to be taxed even.

The government does that already with property taxes, and this idiot thinks it's a great idea to tax the money in your wallet, just because it is money in your wallet.

3 +1 JobyFluorine 2 months ago

@Cripple That's the first thing that I thought as soon as he muttered "unrealized gains". This guy is a moronic cunt.

essence25

4 +1 essence25 2 months ago

What about the unrealized gains taxation that was introduced under Biden?

2 +1 kma8675309 2 months ago

Steve Jobs was "worth" millions, but his "salary" from Apple was something like 1 dollar.

Soylent.Corporation

4 +1 Soylent.Corporation 2 months ago

Dang, I thought I was the whitest person in the world.

0 +1 JobyFluorine 2 months ago

@Mr_Horse whitest horse*

QuartPlus8oz

5 +1 QuartPlus8oz 2 months ago

How about eliminating all income taxes?

1 +1 kma8675309 2 months ago

@QuartPlus8oz Look up the Fair Tax. It only taxes consumption, prebate for food etc.

0 +1 JobyFluorine 2 months ago

@QuartPlus8oz B-b-b-but they need cash money to launder!