How the rich avoid paying taxes

Capital gains taxes, explained.
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The richest in America don't make money like most Americans. Most people pay income taxes from a regular job. But many in the top 1% make money off their investments, like stocks, and pay capital gains taxes. While normal income has a maximum tax rate of 37%, long-term capital gains tops out at just 20%. Changing that rate, and some loopholes that benefit the wealthiest, is seen as one way to tax the rich.
Read more about how the richest avoid paying income taxes from Vox:
www.vox.com/22432338/joe-bide...
And an investigation from ProPublica:
www.propublica.org/article/th...
For more information about Elon Musk's loans:
www.wsj.com/articles/elon-mus...
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[@Vox]

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. www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax

[@thinkbank8709]

Here is an Idea : Instead of taxing the rich with higher percentage, bring down the tax burden on average folks lower. If Capital gain tax is 20% and Income tax is 37%, then ask for income tax to be lowered to 20%. Someone paying more doesn't make you pay any less. Politicians have fooled people to this false rhetoric that Rich people are taking other people's money. Politicians are basically playing divide and rule policy with people. Today you pay 37% and rich pay 20% . Tomorrow both of you will pay 37%. The day after that your tax will increase to 45% and government will again vilify the rich and point to their lower tax rate. That way politicians will get stronger and stronger and people will loose their freedom bit by bit.

[@theyredistortingyourrhythm]

vox pushes covID govt narrative

[@quacka4204]

The amazon CEO isn’t the richest man in the world now.

[@chewie1355]

Yea but some of that data is warped. Talk to an accountant to get real numbers for your situation.

[@jaysolano7426]

theres 1 thing have solution stop making wars the tax will just reduce itself. It sad to see you people paying taxes for someone else war like hilary did to middle east in exchange of accepting billions of dollars of bribes from other arab kings just to be a mercenary politician. BTW im from asia.

[@LiamFetherstonhaugh]

I got rich when I realized that no one is coming to save me or do it for me. If you take your life seriously, you will see a permanent improvement. I started and learnt consistency at 26, wasn't easy to inspire myself guys, but today I have over $3 million in my retirement savings at 40. Milestone for me.

[@CharlieGrimes27]

This is so relatable and true. I am on the same path and I consuIt with good a market strategst. LETSSS GOOOOO!

[@JustinWitt07]

Agreed. I deal with an investment advisor for this reason. I currently have over $940k invested in a diversified portfolio that has grown exponentially and is suitable for all market seasons. Our current project for this year is a more concrete ballpark target.

[@_LauraRowley]

@@JustinWitt07 How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?

[@JustinWitt07]

@@_LauraRowley Rebecca Charlotte Craig is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

[@Nickolas_M_Greer]

Wow...I know her she is a licensed broker and a FINRA agent she is popular in US and Canada she is really amazing woman with good skills and experience

[@sayanchakraborty3720]

“The fact is, if you're a billionaire, you don't need any income.” Biggest quote of the century, I guess!

[@Ok-lu8gx]

ok

[@Alt3Tab]

the point is, they can generate money just because they are billionaires.

[@vishalj27]

But not everyone can become a billionaire.

[@constantin-X]

@@vishalj27 How much money do they have? Your "billionaires"

[@nirajsingh8403]

Love how if they were worried about getting 10% of those Jobs from China Unemployment in USA would be solved

[@JosephWen01]

I won't argue whether capital gains should be taxed at the same rate as income tax. But, should you be taxed on "paper gains"? The stock market is there for everyone to participate in. But it does require "delayed gratification" to accumulate the money to invest.

[@WiolciaMrozowska531]

Financial professionals like John Desmond Heppolette often bring a wealth of knowledge and experience to the table, helping clients develop and implement sound financial strategies tailored to their specific needs and goals. It's crucial for individuals to recognize the importance of seeking expert advice, particularly when it comes to managing investments and mitigating risks....

[@WiolciaMrozowska531]

Johndeshep934

[@WiolciaMrozowska531]

He´s mostly on telgrams with the user above..

[@MatgorzataZielinska]

John Desmond Heppolette's approach is pivotal for achieving success in the realm of online commerce. His management group has showcased outstanding effectiveness, and I also value the content available on his KZbin channel...

[@J-S-Films]

I don't think it should be. People need to stop thinking tax disparity, and start thinking of tax as the enemy. If your neighbor pays 75% less in taxes, instead of complaining about it and voting to raise their taxes, maybe go over and ask them what they're doing differently, and mirror their actions. A reward without sacrifice especially offered by the government is never really a reward.

[@sickomode6440]

I really want to thank Vox for showing me how to avoid tax.

[@AuVeI]

Based

[@ethanshelbyskateboarding9980]

Tax cheat

[@wishub]

@@ethanshelbyskateboarding9980 amogus

[@4kChannel]

The IRS hates this one simple trick

[@redxshadow146]

@@wishub SuS

[@Housewarmin]

Most people are taught that "you only need a good job to become rich". These billionaires are operating on a whole other playbook that many don't even know exists.

[@vojvoda-draza]

No one is stopping you from having brilliant ideas and starting a company

[@waterfoker8558]

It's up to you to find out the reality and not get swept up by what's handed to you

[@_b.4596]

@@vojvoda-draza because every company is successful

[@GewelReal]

@@_b.4596 a lot of them are

[@ilyashussein5972]

@@vojvoda-draza most billionaires have family that are extremely wealthy and their children, as you've seen in this video, will have done nothing to earn that money apart from being born. Essentially they are hording wealth and their not being taxed appropriately. It's extremely unlikely you'll become a billionaire from a good idea this is evident in the population of billionaires in comparison to normal people. The American dream isn't real and it never was.

[@nover1134]

"How the rich avoid paying taxes" The state allows it, simple!

[@mainely8007]

Hence the reason billionaires spend so much money buying politicians including Democratic party ones.

[@greenapril7923]

True

[@dipojones]

@@mainely8007 Someone has to write and pass the laws that allow billionaires to avoid taxes.

[@eco-techandtravel5258]

And also poor people allowed. Because they are voting on least important things.

[@larsstougaard7097]

Biden will ......😴

[@CJ-wright]

I'll suggest that because of the crash, choosing the appropriate stock won't be too simple. Jim Cramer mentioned that despite the crash, there are still tremendous chances, and I saw someone mention making $250k from approximately $110k since the crash. How do I generate returns like these? Nate

[@Victoriataylor5668]

There are certainly many ways to earn large yields during a crisis, but it is advisable to carry out these trades with the guidance of a financial expert.

[@Brittany-reeds]

@@Victoriataylor5668 That's accurate, I've had a coach helping me for about a year, I started with less than $120,000, and I'm only $19,000 short of making a million dollars.

[@cliftondippolito]

@@Brittany-reeds Impressive! Can you provide further details?

[@cliftondippolito]

@@Brittany-reeds She comes off as intelligent and well-read. Thank you for sharing; I did a Google search for her name and found her webpage.

[@cliftondippolito]

@@Brittany-reeds She comes off as intelligent and well-read. Thank you for sharing; I did a Google search for her name and found her webpage.

[@talented009]

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??

[@Adukwulukman859]

Find stocks with yields that exceed the market and stocks that, at the very least, follow the long-term market trend. However, you should get guidance from a financial advisor if you want to create a successful long-term plan

[@ThomasHeintz]

I agree, I've been in constant touch with an Investment advisor for approximately 17 months. These days, it's really easy to buy into trending stocks, but the task is determining when to sell or hold. That's where my advisor comes in, to help me with entry and exit points , I've accrued over $337k from an initially stagnant reserve of $148K all within 18 months...

[@DarleneMurphy774]

@@ThomasHeintz I need a guide so i can salvage my port-folio due to the massive dips and come up with better strategies. How can one reach this advisor??

[@ThomasHeintz]

@@DarleneMurphy774 I started out with a commentator named “LAURA MARIE RAY.” Her honest approach gives me complete ownership and control over my position, and her rates are incredibly affordable given my ROI.

[@esther.74]

@@ThomasHeintz Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

[@omarfarique6304]

Expectation: Tax money is used to build infrastructures and invested in healthcare. Reality: Used to bail out big banks and used to finance wars.

[@chinmaysharma9424]

Unfortunately, no one understands that, I think everyone forgot what happened in 2008.

[@bearmugs1408]

In the US, healthcare isn't even centrally run. The US spends more than other comparable countries who have national healthcare. The military wastes millions a year. Lots of tax dollars go nowhere and probably end up in the pockets of rich people.

[@HebrewHammer185]

Every single financial institution that got TARP money paid it back. They were loans not free money. The real issue was the lack of regulation not the bailouts

[@thomasgate416]

@@bearmugs1408 True, and to add to that, most organizations are privatized, hence the price tag on healthcare in America

[@hockeymaskbob2942]

stop paying taxes, they can't arrest all of us

[@mybakwaaschannel]

"if you are homeless, just buy a house" that woman makes so much more sense now!

[@wasd6287]

Explain it then

[@frankdobraszkiewicz2410]

Please say how

[@mustbeyourimagination8651]

Is it becaue she was raised to be rich?

[@mbsucks101]

@Q E D agreed

[@aaronbono4688]

@@nealkandel4382 I think they are being sarcastic

[@signordoge8721]

Warren Buffett is the embodiment of 'hate the game, not the player'. What a legend.

[@ethanshelbyskateboarding9980]

If Warren Buffett and Elon Musk don't have to pay taxes then neither do the middle class and poor

[@abrardaiyan4268]

these players often make the rules

[@ethanshelbyskateboarding9980]

Wrong,if the middle class and poor have to pay taxes then AUTOMATICALLY so does trash like Musk and Buffett

[@ethanshelbyskateboarding9980]

@@abrardaiyan4268 Musk and Bezos are criminals, THEY HAVE TO PAY TAXES LIKE EVERYONE ELSE

[@ethanshelbyskateboarding9980]

@@abrardaiyan4268 irrelevant,they should pay taxes like everyone else

[@douglaschester2097]

This is amazing. “How to build wealth

[@douglaschester2097]

The first step to building wealth is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI pIanner, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.

[@douglaschester2097]

I am fortunate I made productive decisions that changed my finances (gathered over 1M in 2years) through my financiaI planner. Got my 2nd house in Feb, and hoping to retire soon. Give this a try and attain good-returns.

[@douglaschester2097]

researvh the name, if you care.

[@douglaschester2097]

REBECCA MARTIN WATSON

[@scottabc72]

Remember this when hearing about execs 'donating' their salary or their salary is 'just $1' - its just another PR move.

[@theyredistortingyourrhythm]

Delaware loophoole

[@Trystero_]

Last time I checked warren buffet is worth about $100 billion and has donated about $30 billion, and when he dies all of his wealth will go to charity as will most of the richest people in America.

[@scottabc72]

@@Trystero_ You actually believe that most of the richest people will donate most of their wealth? That is truly pitiful. Sorry you're wrong, Buffett is an outlier treating wealth the way he does. Of course many very wealthy people will 'donate' large amounts of their wealth but they are very often getting something back for it too. At the very least good PR and often something tangible such as kids going to Universities that just happen to have buildings funded by 'donations'.

[@everythingisfine9988]

Technically, as far as PR goes. This is an extremely cheap form of it.

[@onlyrog5]

Common sense.

[@crooked52h]

Why don’t they teach this in school ? Answer: We need busy worker bees 🐝

[@rayzard3687]

robots in future :we are worker bees

[@ChosenOne6666]

They do in Tax accounting.

[@mainely8007]

The rich also need consumers or they would have replaced us all with robots long ago.

[@TheAviationistKhizr]

@@eployrlarisjwnqj5035 Because then 70% of people have no purpose. A robot is better than them. Then no one has any income to buy the products that the robots are making

[@eployrlarisjwnqj5035]

Robots are more efficient in repetitive factory jobs and can work 24/7 so why don’t companies use them yet? They are there right?

[@danieljamal3709]

Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market/crypto market has plenty of opportunities to earn a decent payout even in a downtrend, with the right skills and proper understanding of how the market works.

[@georgecooper8750]

Courage taught me: no matter how bad a crisis gets, any sound investment will eventually pay off

[@veramonique1724]

You are so right. I know because my advisor is able to find so many good plays. My portfolio literally went from $300k to $1.1m last year (not counting withdrawals I made) all really exciting. I guess it’s the experience and better judgement.

[@dannyvera8475]

please who is your advisor

[@veramonique1724]

@@dannyvera8475 My advisor is PRISCILLA DIANE AIVAZIAN I found her on a BBC interview where she was featured and reached out to her afterward. She has since provided entry and exit points on the securities I focus on. You can look her up online if you care about supervision. I follow her trade pattern and haven’t regretted doing so

[@dannyvera8475]

@@veramonique1724 Access to good information is what we investors need to progress financially and generally in life. here's a good one and I am grateful.

[@NancyFranciss]

I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $200K across markets but don't know where to start.

[@blissds-gi3mb]

This seems like the worst period. Even the markets are very unpredictable. started investing recently when the market prices were a bit high ,today i am more than 60% down

[@dawsondanny990]

Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value

[@user-cy7bs3hb8v]

The best course of action if you lack ma-rket knowledge is to ask a consultant or invest-ing co-ach for guidance or assistance. Speaking with a con-sultant helped me stay afloat in the market and grow my port-folio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.

[@NancyFranciss]

Fantastic! Can you share more details?

[@NancyFranciss]

I'm definitely gonna check her out. Do yo have any idea if she manages a family fund?

[@SaschaHusenbeth]

When the richest people point out the flaws in the system that makes them get richer and richer, you know that system is fundamentally flawed.

[@mendozadaniel338]

The worst part is that the government officials whose job it is to regulate them are also in their pockets. The wealthy have outsized control over political decision because they are big political donors. And even the most honest politician and/or political party needs money to finance their campaigns and win. Getting money out of politics or at the very least being more transparent could help to finally see actual change and close the wealth gap. It is in any countries best interest that the middle class be healthy and large.

[@1LuvMLPFiM]

You know what they say. "Don't hate the player, hate the game."

[@jojomojito2754]

making fun of the system that they are benefiting from. Adding insult to injury

[@grandesingsbetter7369]

@@1LuvMLPFiM and who tf u think made the game ?

[@altrag]

@@1LuvMLPFiM Except the players are making up the game as they go.

[@richardxia1720]

Me: gets my first paycheck Government: *I’m about to end this man’s whole career*

[@claudia-uy5gk]

:(

[@user-ti2xi9bd4u]

Walmart:” we pay $12 an hour!” After taxed: $8 an hour. Ok I quit

[@ViktorScberg]

Put it into crypto

[@drewvega2260]

There is absolutely no reason whatsoever for anyone making $12 an hour to pay any taxes.

[@Ego-Fiend]

Ever since I got my first paycheck for a job that pays $15 an hour I was like "why tf am I working here now..." I can't get an Xbox at this rate

[@RayaFlora]

I’m more than happy to discover this channel. I need to thank you for your time for this, particularly a fantastic watch!! I liked every little bit of it and I have subscribed you to look at new posts all the time.

[@ExxonMobilCompany]

To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough>. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?

[@marcelrobert9569]

I agree. Based on personal experience working with an investment advisor, I currently have $385k in a well-diversified portfolio that has experienced exponential growth. It's not only about having money to invest in stocks, but you also need to be knowledgeable, persistent, and have strong hands to back it up.

[@charlotteflair1043]

@@marcelrobert9569 I lost over $9000 this week, which is money I'm putting aside for retirement ; who is this individual that advises you?

[@marcelrobert9569]

@@charlotteflair1043 Yes,My advisor is Julie Anne Hoover is highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..

[@robertlucas8288]

@@marcelrobert9569 Thank you for this tip. it was easy to find your coach. and I conducted thorough research on her credentials before scheduling a call with her. Based on her résumé, she appears to possess a high level of proficiency, and I am grateful for the opportunity to speak with her.

[@kristopherthemediator3346]

Invest in high yield dividend stocks. start the earlier t he better

[@DiRECs]

I think a more correct title would be "One way the rich avoid paying taxes"

[@pex3]

It’s the biggest way

[@thinkbank8709]

Here is an Idea : Instead of taxing the rich with higher percentage, bring down the tax burden on average folks lower. If Capital gain tax is 20% and Income tax is 37%, then ask for income tax to be lowered to 20%. Someone paying more doesn't make you pay any less. Politicians have fooled people to this false rhetoric that Rich people are taking other people's money. Politicians are basically playing divide and rule policy with people. Today you pay 37% and rich pay 20% . Tomorrow both of you will pay 37%. The day after that your tax will increase to 45% and government will again vilify the rich and point to their lower tax rate. That way politicians will get stronger and stronger and people will loose their freedom bit by bit. . I will end my comment with a quote from a wise man named Alexis de Tocquevile : "The American republic will endure until the day Congress realises that they can bribe the people with people's own money."

[@tommyk1210]

@@thinkbank8709 but that won’t work… 50% of federal income comes from personal income tax. Reducing the personal income tax rate would significantly effect the budget

[@ragingdiabetic]

They don’t tho

[@bigboyskoots3232]

@@ragingdiabetic raising cap gains to 40% would raise 1/2 the amount the military spends in 1 year to 10 years of times. And the aftermath of doing that will be terrible. There is a lot more harm than good.

[@zelkouo4662]

Short answer: It's because they sell stocks. They get taxed on the stocks they sell while normal people get taxed on income

[@Cashcash69]

So then how do they have the money to spend on stuff if it’s all in stocks

[@thinginground5179]

@@Cashcash69 What?

[@dailyrant4068]

@@Cashcash69 Because they can get ultra low interest rate loans to use as living expenses. They don't really need much proof of income. There's a saying that banks only loan money to people who don't need money. It is 100% accurate.

[@Cashcash69]

@@dailyrant4068 so then how do they pay back the bank

[@papiangelus]

@@Cashcash69 You don't know much about the stock market, do you?

[@koderken]

Totally incorrect title for this video. It did not show a single real-life rich person "avoiding' any tax. They all paid what they were required to pay.

[@AdityaDesai96]

37% is the highest marginal tax rate. Effective tax rates are usually much lower. You only pay ~37% in taxes (Federal + FICA) if you make over a million dollars a year.

[@ultrastoat3298]

Right, I love how they put the 37% tax figure above the photo of the secretary lol. Cool, a secretary pulling multiple millions a year 😂. Most REAL secretaries are probably paying like 10% tax.

[@brosephbrown9069]

@@ultrastoat329810% is still alot of someone’s income. While they’re able to avoid paying billions

[@nallebrean]

Lucky you. I pay 80% marginal tax.

[@Cyclops0000]

Company CEO's: "We can't afford to give pay rises this year." Meanwhile: The whole executive board has had huge bonuses, have stock portfolios that are so large they don't even need their jobs and their workers are on the poverty line.

[@OctogonOxygen024816]

As it should be

[@giorgialadashvili4771]

@@OctogonOxygen024816 Why? You support modern neo-feudalism?

[@trader2137]

it should be that way, those in executive board achieved their status through hard work and education, meanwhile the 'working class' is usually uneducated workforce that will be shortly replaced by robots anyway

[@breme3757]

@@trader2137 anarcho-capitalists Bottom text

[@noahwallace3458]

You do realize you could put your own money into their stock to their stock cause if their stock goes up then you win new win it's not their fault you didn't put money in

[@JokersAce0]

Meh, I was actually hoping for something more in depth and nuanced than capital gains vs. income tax as the basis for how the rich "avoid" paying taxes. If it's capital gains obviously they aren't actually avoiding taxes. Offshore tax havens and complicated plans devised by the largest financial firms on the other hand is something I'd be interested in actually learning about.

[@M69392]

Offshore tax havens are for hiding company profits or dark money. This video is about individuals who don't even need tax havens.

[@the_tax_consultant]

There's a documentary floating around youtube that shows how Big4 consulting firms (specifically KPMG) uses tax havens to shift taxable income to tax havens.

[@HoangLinhBuiSilverDrone]

you won't ever hear about it on VOX. That's how most people that invested in Vox get their tax evaded

[@ombogalombo]

Worked for a Big 4 in tax consulting. Cyprus, Dubai, Holland, Caribbean. That’s the combo at the moment. You move the dolla around in a specific order through two/three companies and foundations and that’s it.

[@PantMal]

Same. Was also waiting for something similar.

[@bartoszdobroslaw9774]

Great stocks and I just bought in on them, but I'm interested in making short term profit, let say turn a $150K to $500k in 6months, I'd appreciate tips on how what stocks to buy to make this much profit.

[@bartoszdobroslaw9774]

@Fred Howard That sounds great and how do i connect with her ?

[@bartoszdobroslaw9774]

@Fred Howard Okay i just found her website and left a message for her. thanks.

[@joef8325]

Just sell cocaine double or triple your money if you get caught you get free housing and food maybe a new lover not by choice

[@user-zz9ul4uc1m]

I'm so happy I made productive decision about my finances that change my life forever, hoping to retire next year.. Investment should always be on any creative man's heart for success in life

[@dakfahnirqrh7548]

The simplest way to describe this is "do not liquidate."

[@tightywhitey9779]

But if you don’t liquidize, you risk your stocks becoming worthless. Essentially all the billionaires net worths are money they don’t actually have in hand yet. It’s 99% stocks, so they don’t pay taxes until sell. This seems logical to me, guess I’m the only one.

[@nameisamine]

“Liquidate”

[@NizarElZarif]

@@tightywhitey9779 Once you are rich enough, liquidity is really not an issue, assets are more important. That is why CEO choose to get payed in stocks not salary. For example, Bill Gates is now the biggest land owner in the USA. Fiat currency is only meaningful when you are poor, the real money is assets.

[@oozey262]

@@NizarElZarif couldn’t be more right. To me owning assets and having a pocket change in my bank is more important than having billions in fiat paper, think this way Currency can just be as worthless as a bankrupt company if inflation is abused or an undesirable event occurs, your assets can always be sold in the current market value not the value of the over inflated currency. Make the right choice invest only in low risk assets

[@NaudVanDalen]

@@NizarElZarif Stocks aren't even real money at all.

[@sachiconza9406]

"Tax me if you can!" What a good pun.

[@ff-qf1th]

it's meaningless; it does nothing. if he instead put money on progressive/left leaning candidates who want to tax the rich, he might actually make a change in the world with his money.

[@slavenrasic2173]

dont bite the hand that feeds you, they say

[@thonkingintensifies9510]

Tax and catch don’t really sound the same

[@alexhennigh5242]

Not a pun. More a play on words.

[@hoodlumscraggy1801]

I don’t think you know what a pun is

[@byronjasper2873]

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.

[@ztomminator]

No just for playing the game wrong. If you are a stay-at-home mother you don't have to hey annual earned income taxes

[@ryushogun9890]

No, you just voted for social based governments that need your money to do stuff.

[@masked_motivation_]

No, a punishment for not thinking and acting in the best possible way. The rich not being taxed as much is a good incentive for finding ways to get there

[@_pseud0]

​@@masked_motivation_ actually they pay about 30-40% of the total tax paid by the entire population even at extremely low rates because their income is so high.

[@ANonyMouse627]

To put it in perspective, if you live in the USA you probably already have more wealth than most people in the world. If your family income is $10,000 a year, you are wealthier than 84 percent of the world. If it's $50,000 or more a year, you make more than 99 percent of the world.

[@javedsaboo]

Dear Vox team, this is Javed here from Mumbai- India. I am big fan of your presentations and your topic selections. Request to start an Indian specific channels to cover issues pertaining to India. It would be grateful and also feasible for your team. Thanks!

[@SvdSinner]

Lame claim to fame: My niece once dated the son of the Secretary that Warren Buffet was referring to.

[@dibbidydoo4318]

six degrees of separation.

[@grantwood8167]

Small world

[@sumit7851]

What a long longgggggggg connection 😁

[@DavidWilson-np3eu]

You're famous!

[@Hagrits_hat]

How did it went ...? Or how it's going

[@abhinandhrajeev6335]

"The poor and the middle class work for their money while the rich put their money to work" This is the best financial quote of the century

[@Flappybirdys]

@@Outstanding_Gal the American system kind of is. But why poor people continue to be poor is because that’s the only conclusion they make from this video. There is absolutely nothing stopping them from investing and buying stocks too.

[@Flappybirdys]

@@Outstanding_Gal a reason why so many people in Australia retire as millionaires is because we have a system called superannuation, where the government forces you to invest a part of your income for your retirement. Even my mum on minimum wage and only coming to Australia for 8 years will retire with atleast a quarter million in cash and over a million in assets.

[@Ninja-gt3zi]

@@Flappybirdys they dont teach this at school. Poor people wont get that education government dont want people to know

[@donkeykong4983]

✝️✝️✝️✝️✝️✝️✝️

[@ManMan-xq8jh]

@@Ninja-gt3zi A smarter population is a better population they have no reason to not provide education

[@The_NonDescript]

Hey, those $75K in leaf blowers blowing lizards off tree aren't going to pay themselves!

[@JohnDoe-fi9yh]

The tax difference is about risk. A paycheck is guaranteed if you work for a company. However, investments aren't guaranteed to be profitable. Ppl who want to tax rich ppl don't understand that more taxes will stifle economic growth and innovation. This is just a simple case of envious ppl wanting to punish successful ppl.

[@davidthompson3872]

Our lawmakers are the 1% mostly . That’s why it doesn’t change.

[@onlyrog5]

This.

[@TheFrankybody]

Not really, the people you vote for get paid by the 1% to keep these laws. Thats one of the reasons people wanted Trump.

[@thebutters816]

Lol i love how this reason, is same problem in any other country

[@RudolfJvVuuren]

@@TheFrankybody Wait are you saying Trump isn't one of the 1%??

[@nhhuynh3085]

Then don't vote for them.

[@acoldhand]

COME ON JEFFREY YOU CAN DO IT, PAVE THE WAY PUT YOUR BACK INTO IT

[@joonamato]

COME ON JEFFREY, GET 'EM

[@mrnoirsunsortedgoods7874]

This is underated.

[@cburns458]

YES

[@ExopMan]

JEFFREY, JEFFERY BEZOSSS

[@f-ckmyr0fil81]

ე ყ კ 📞🎹📯

[@guru0503p]

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

[@thatundeadlegacy2985]

the poor are richer though, a rising tide raises all

[@lexxihd5843]

@@thatundeadlegacy2985 The poor are better of, but not richer. Nowadays many people can't afford a own house or even rent. Even if they work 50-60hrs.

[@thatundeadlegacy2985]

ban companies from owning residental, ban people from owning more than 4 homes, problem solved overnight, easy.@@lexxihd5843

[@aaronbrown1992]

This was a joke. I have stocks, I’m not a member of the 1%. I’m still able to take advantage of the capital gains tax. It’s not a “only the rich can use this” sort of thing. Do people really believe you should tax someone on the value of their stocks, when those gains aren’t even realized? That’s ridiculous

[@kentonwu4383]

Maybe that's fair, but then why does an excessive majority of capital gains go to 1% of people? The point is when you are already rich the system makes it easier for you to become richer. You cannot afford to put all your wealth in capital like a billionaire can. Capital gains should, at the very least, be taxed at the same level as income.

[@murdered350]

Yea. This whole video is really just advocating for socialism.

[@shazzadhasan3970]

@@kentonwu4383 which will crash the market and thus the economy and you won't be able to put food on the table.

[@ryanpearl9435]

I not even lying, my grandfather's name is Morris Pearl. I jumped out my seat when I heard that guy has the same name, spelled the same way too lol😂

[@amanraph3292]

Does your grandad own lots of stock 🧐🧐🧐

[@ryanpearl9435]

@@amanraph3292 he was a furniture salesman is Toronto back in the 50s and 60s. He owned a place called Pearls furniture. He passed away about 11 years ago, and I'm 13 so I never knew him. But we still have some of his furniture in our house!

[@f-ckmyr0fil81]

He was a bit

[@JJs_playground]

@@ryanpearl9435 wait, what. You're 13 and you're watching this video. Good on you, if you're already thinking about this stuff now I see a bright future ahead for you. Keep it up.

[@aestheticvibezz142]

@@JJs_playground I'm 16 Just watching how they escape xD

[@reek2987]

“For those who have more, more will be given and from those who have nothing everything will be taken.” -Mathew’s Principle

[@akashpanthi2917]

But a person holding his/her stock must not be paying tax for it. If that's the case,then government should even compensate the stock holders when stocks go down

[@wagner9527]

For those who make right choices, do not forget you have no guarantee that your papers wont not go down.

[@suzukigixxer1627]

Nepali🇳🇵?

[@TheLadedaman]

@@akashpanthi2917 that's why capital gains tax is low, to incentivize investing in the market despite risk.

[@elliottbeetz6753]

What happens to the stock market tho if you start taxing gains heavily? Does that decrease the value of shares? I’m curious what the impact would be

[@Leahwilliamson124]

It's wise to seek a professional guidance when building a strong financial portfolio due to its complexity

[@sabinadavis3503]

As a newbie, about to invest you most have four things in mind. 1 have long time mindset 2 be willing to take risk 3 be careful on Money usage, if you are not spending to earn back then stop spending 4 never claimed to know -Ask question, it's the best you work with a financial advisor.. like Martinez Amend, he is good on what he knows how to do best.

[@wendierenard548]

Hit $200k today. Thanks you for all the knowledge and nuggets you had thrown my way over the last months. Started with $20k in October 2023

[@roselinedavidson3162]

Most rich people stay rich by spending like poor and investing without season, and most poor people spending like rich yet not investing like the rich, but impressing them.

[@macdenise3203]

You're absolutely right, and that's a beautiful mindset you've got there I never thought of it this way before.

[@jonaswinter614]

He's in Inceland, Mr Martinez Amend Carrie's out both orientation and mentorship potential he's performing wonder's

[@user-rc8xc6yx8h]

People who donated money to Kylie Jenner are now looking like : The ocean is thirsty

[@vegeta8mysocks]

But an ocean's water is not drinkable

[@Fromtheforgottengardens]

The wealth gap generally, makes people resentful and oblivious to people's struggle and point of view.

[@Ok-lu8gx]

ok

[@khuret1773]

What about Ur Expensive Healthcare ?? Why can't US make healthcare free

[@mr.joesterr5359]

@@khuret1773 because a large amount of the populace doesn’t want free healthcare. They want to go bankrupt paying medical bills

[@robertshelton3796]

Middle class people with middle class cars in middle class houses own stock. Stop treating us like we're rich: we're not.

[@obidean3964]

@@mr.joesterr5359 Lol 😆

[@marcusmossuto]

The rate of capital gains is a reasonable debate. The debate on taxing unrealized capital gains is just absurd. The quote in the video is that the money is not taxed is false. That money is not sitting in a vault in n the Rocky Mountains, it is deployed in the economy in capital plant and equipment, research and development and the paying of thousands of workers. Taxing the unrealized gains means destroying the company to pay a property tax which is destructive but also unconstitutional.

[@nax1807]

acuiring loans against stock you hold to have a tax exempt form of income is pure genious!!

[@salokin3087]

I would like to see more on how such rich lifestyles are financed through leveraging debt and assets, that seems more relevant as it explains why we see luxury manors and yachts get bought by people who dont really work

[@stevenrburgoyne]

Its actually really simple. Say you own stock worth 50 million. You can get a loan for say 10 million at 2-3%. Now take that and go buy something expensive which will appreciate in value, like real estate. After 2-3 years sell that house for 12-13 million. It cost about 1 million in interest, pay back the 10 million loan (11 total) and now there is another 1-2 million left over (even after paying 20% tax) which was made from not selling any stock. Use that to buy other stuff. Rinse and repeat. When tangable assets are worth so much, its very easy to make money out of nothing to live. No matter how rich you are, a load of bread costs $2. The rich can leverage their wealth without doing anything to buy that, whereas everyone else has to actually buy it.

[@nothingnothing3211]

@@stevenrburgoyne It's what normal people think what rich do. You should know that you never invest with owed money. It's the potion of absolute destruction.

[@stevenrburgoyne]

@@nothingnothing3211 never invest everything with borrowed money, sure. But it's one way. Some people take the money and invest in new businesses, or go out and do other stuff with the money. I know plenty of wealthy people who use some of their portfolio and do exactly this, especially on assets like houses. Sure, the market crashes and the value goes down but guess what, it goes back up eventually. Take the 2008 crash. By 2012 house values were back to before crash numbers. Hold the asset for 5-8 years instead of 2-3. At the end, the rich still end up ahead because they have other sources/capital to cushion the blow.

[@dm2060]

@@nothingnothing3211 except, that is literally what billionaires do. They get credit lines from banks that they use to buy food cars yatchs houses etc.

[@vardhan4594]

@@dm2060 banks keep their assets as collateral and if you have stocks that you have been holding since ages as you made a great investment..... Who wouldn't want that

[@mathiasenger7665]

In Norway we have a "Net Worth-tax". So you pay about 1% of your net worth in taxes per year. For clarification: Your net worth has to be above 150 000 US dollars in order for the tax to apply. And the government has a rather Conservative way of estimating your net worth. So a large amount of the population will never be eligible to pay this tax.

[@itstimetomakelol6650]

Seems fair

[@Cecilia-ky3uw]

net worth taxes can be avoided by racking up debt

[@daveausmunchen7787]

@@itstimetomakelol6650 why does it? What’s „fair“ about a game we both play in which I am better than you, for whatever reason, and then a referee comes in and Takes away half of every point I score (just think 1 vs 1 basketball) and after halftime makes it more exciting by deducting another few points just for fun. Now please explain to me how in any shape or form that is “fair”

[@itstimetomakelol6650]

@@daveausmunchen7787 Your money doesn't just get taken. You get something in return. It wouldn't be fair to not pay for infrastructure, healthcare etc. 50% is a lot imo, especially in a country like the US which still is a third world country in some parts. But 1% of net worth every year ain't that much if you work. $1 000 000 net worth means $10 000 in taxes at the end of the year. And maybe we could just only have this tax for people with a six figure income or a net worth of up to $25 000 000.

[@daveausmunchen7787]

@@itstimetomakelol6650 Of course it just gets taken. Yes one gets infrastructure, education,… (not healthcare that at least in Germany is another thing you gotta pay) but one has already paid taxes to become worth 1.000.000. Or how do you think people earned 1 million? If it was inherited, you paid taxes, if it was earned, you paid taxes,….. and as soon as you do something with the money you pay taxes, whether it is buying a car, buying food,… Yes it might not seem a lot, but take this, I am from Munich, my neighbors house is worth about 2 million euros (which is nothing special). So my neighbor who bought the house decades ago when it was a lot cheaper would now have to pay 10.000€ annually (progressive taxation) from retirement which maybe is 50.000€ before and 30.000€ after taxes, healthcare,… They are not rich but their net worth is extraordinarily high due to real estate

[@alexstephanie8051]

Successful people don't become that way overnight. most people see at a glance-wealth, a great career, purpose-is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life

[@alexstephanie8051]

@Jamie Janny I agree with you Investment is the key to sustaining financial longevity . And not just any investment but an investment with guaranteed return .

[@Charles-ew3km]

@@alexstephanie8051 yeah investment is the key to sustaining your financial longevity but venturing into any legit investment business without proper guidance of an expert can lead to great loss too .

[@steveashley8260]

Exactly and many of us don't know where to invest our money so we invest it on wrong place and to the wrong people

[@hassangary8961]

@@steveashley8260 Obviously talking about been successful , I know I am blessed if not I wouldn't have met someone who is as spectacular as Benson Sandra

[@hassangary8961]

She helped me recovered all I've lost trading by myself

[@mojolafakeye6488]

Could someone explain this to me; their net worth is based on the value of stocks they hold, stocks which could plummet at any time. If they are taxed based on their networth rather than profits or income, how do they get compensated if the value of their stocks do plummet?

[@Dancemikacin]

that's why it hasn't been implemented yet because there is no solution to that problem other than paying them back

[@unnamedhero7543]

They wouldn't do a one time payment or something, they would pay taxes on their net worth every year. Same as how we treat property taxes.

[@Quickshifter123]

Fun fact: a baseline millionaire is 1000 times closer to a status of a homeless person than to a status of a baseline billionaire.

[@musicaddict4214]

A us cent weighs 2.5 grams A million dollars in pennies would weigh 275 us tons A billion dollars would weigh 275577 tons

[@MrNateSPF]

@Impersonal Immigrant Math.

[@Quickshifter123]

@Impersonal Immigrant homeless person (0$) --millionaire (1 mil$)----------------billionaire (1000 millions$)

[@Lebronwski]

Good, when wealth is concentrated big things can happen.

[@generationfallout5189]

One million seconds equals about 11 days... but one billion seconds equals about 31 YEARS!

[@BroAnarchy]

The disparity of economic wealth for all Americans is really really sad

[@Ok-lu8gx]

ok

[@salokin3087]

Not really. This happens in nearly every large economy like China or the UK, financial assets are simply more valuable than income streams

[@robertshelton3796]

Middle class people with middle class cars in middle class houses own stock. Stop treating us like we're rich: we're not.

[@BroAnarchy]

@@robertshelton3796 Saying you own stock doesn't matter much in the face of context. Do you own a few shares that are valued at $1,000 or so? Or do you own thousands of shares worth half a mil? Because that's a _HUGE Difference_

[@kushalrijal9453]

Applicable almost everywhere.

[@joeschmo7145]

Kings in castles and peasants out toiling in the fields, man has never changed and man will never change.

[@Phil60084]

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.

[@aaronbisignani588]

Everyone: Pays taxes to support society. Rich People: "You pay taxes!?"

[@saricubra2867]

In Argentina, taxation is theft

[@VenkateshT-zi7on]

In india, saving for tomorrow is equal to theft on today

[@adamdanilowicz4252]

You technically do suport society by putting your savings back into the economy, through stock market investment. How do you think corporations like Tesla can build billion dollar factories?

[@user-hw9fn9uv5c]

@@adamdanilowicz4252 if tesla supports society then public transport should be prayed to as our lord and savior

[@TheFloatingSheep]

@@saricubra2867 taxation is theft everywhere

[@slylover123]

What a concept that they benefit from the very system they don't give back to

[@mainely8007]

This is why billionaire activists start astroturf groups like the Tea Party and a host of other agitators. They started the right wing religion of anti-governmentalism.

[@midaeium]

The republican party in a nutshell

[@greenapril7923]

That's how it work

[@michaels4123]

Na. Billionaires simply understand the game of capitalism. The poor don't. Like the video tell us. You don't get rich from earning a salary. You get rich by owning assets that appreciate in value.

[@eco-techandtravel5258]

@@michaels4123 why you called capitalism it curptionalism.

[@scottscott5827]

A paycheck is taxed at a max of 37%. A short-term stock gain is taxed at a max of 37%.

[@killer13387]

Blatantly omits time frames in capital gains vs salary,. Risk, and company tax also omitted. We have massively wage mobility. I wanted to watch this feeling challenged.

[@ailsa7471]

It's nice to see someone rich who agrees with this

[@fikridjojo]

To be honest I prefer he show us the real action to solve this problem tho...

[@skinnylegend3487]

“I want to live in a country filled with middle class people who can afford to shop at our companies”. When you tax the rich the middle class grows the lower class shrinks and people buy more and the rich still make money. When they get taxed we all gain.

[@perlasandoval7883]

yeah it's a incentive

[@allenbragg7920]

The wealth is in stock. No one gets anything until portion of that wealth is sold. What have they done while creating more wealth? New corporations hiring more people, attempting to build latest battery technology, solar roofing, space planes and hyperloops.

[@es2627]

that is socialist non-sense the richest places on Earth have the lowest tax rates

[@greenlemonboy9762]

But the rich get less richer. To the point where there is no point in being rich. Then nobody will, be motivated to innovate an work extra hard. Everyone will just get a middle class job. Before you know it, the things that make america the richest country in the world, businesses like apple, google, facebook, amazon, and tesla, will be gone, and america will no longer be the top country in the world. Everyone should pay the same percent of tax, with no loopholes. Minimus wage workers should pay 15-30%, as well as rich. Thats the only way we can remain a capitalist country that sparks innovation, and has people from other countries wanting to come in.

[@ivan24zg]

@@greenlemonboy9762 we live in a society

[@admiralcapn]

Taxing on income (or "wealth") appears to be the problem in the first place. Tax based on spending, i.e. a National Sales Tax. Make it 20% on non-essential products (i.e. 0% on fresh produce, basic clothing, etc) and have an annual "rebate" to each taxpayer of 20% of what they spent up to $6k (thus making the first $30k they spend tax-free, or "progressive"). Thus, if you're spending money, you're being taxed. It doesn't matter where you "hide" your money, if you're spending it, it's taxed. It also favors savers (encouraging good money habits) instead of inflation encouraging borrowers.

[@conchobar]

Nah, the rich would create a revolving leasing/ rental model to get around that too. Also they can buy via shell companies and trusts, so they never outright buy/own anything personally.

[@shazzadhasan3970]

@@conchobar they will not be taxed at the end of the year, they will be taxed while they are spending, so shell company will be taxed too, no way to avoid it.

[@phoneywheeze9959]

​@@shazzadhasan3970we have it in our country (its called gst) and it's on top of the income tax. the greedy politicians need a lot of money, instead of having a new system they just append taxes to old systems

[@GeorgiaMoore.]

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market

[@mufasum]

Capital gains tax needs to have the same tax bracket system as income tax. Poor and middle-class Robinhood investors shouldn't be subject to the same capital gains tax rate as billionaires.

[@factidraw]

Yes I totally agree with this. I think all taxes, even sales tax and stuff, should be based on a progressive marginal tax bracket system.

[@letsmakegadgets6899]

@@timetimetime3985 How would that mess up the economy?

[@vivekkrishnam4861]

capital gains does already have tax brackets, short term follows the income tax brackets exactly and long term is a bit different but its still progressive

[@AnirudhGiri]

@@factidraw Terrible idea. If all taxes are progressive, money would lose all meaning. If I have to pay more for my groceries the more money I make, I have no incentive to make more money

[@shalinitiwariscorner5210]

@@timetimetime3985 Again a person with Roosevelt syndrome. Phew!

[@ferrerorocher4013]

The worship of the rich and wealthy in America is disturbing

[@dipanjanmondal7765]

8 % of Americans are millionaires following this culture ,.. despising the rich won't help but by glorifying and copying them and thier methods you'd get somewhere

[@rafadydkiemmacha7543]

@@dipanjanmondal7765 8% of Americans are millionaires? What the heck? You count credit money? 😂

[@xandercorp6175]

Your name and your comment together makes me laugh so hard, well done.

[@larsstougaard7097]

Rotten 🍎

[@Pvrge.]

Why? They are simply more intelligent than the rest of the population, they deserve what they have, unlike those jealous losers who get mad about it.

[@dammitbobby283]

The information in the video is inaccurate; the secretary doesn't earn $578,000 a year, which is the income level corresponding to the 37% tax bracket mentioned in the video. She pays 22% which is for the $44,726 to $95,375 income.

[@Andreas-nw6qh]

Scratching my head here in Switzerland where we don't have any capital gain taxes at all! We still pay most people a relative fair salary without strong unions! A cashier at the supermarket gets more than 4k USD a month.

[@joejoey7272]

Moral of the story , invest your money . Nobody’s going to be wealthy from a salary

[@lyudmilapavlichenko7342]

You've completely missed the moral of the story...

[@marginis]

Good luck investing when your entire paycheck goes straight to bills.

[@drhoff6551]

@@andlukas we can, which we cant see is a billionarie paying 0 in taxes and a someone who get 3000$ per month paying taxes

[@suryanshsingh4533]

@@jacobarmitage6115 did you also know that global poverty has halved in the last 30 years

[@dekippiesip]

@@marginis Then you are just living a life that is too expensive. Middle income people(im not talking about the poorest) should be able to create a hybrid income. Save money and invest the saved money wisely, then you can build up 2 sources of income and your second source will not be taxed as much as your first.

[@ChrisAlbertH47]

They do so by capitalizing on a system that leans heavily in their favor.

[@arxsyn]

Or rather THEY made a system that benefits them

[@Showmetheevidence-]

Good and what’s wrong with that?

[@kopend8638]

They made the system,ever wonder why they lobby both parties

[@AbhinavKumar-ov3xf]

so how can you make them pay taxes if they dont have liquid cash

[@joseastiz1775]

And what would you like?? A socialist system like venezuela? I mean they have created equality all the citizens are equally poor

[@Thanos_Kyriakopoulos]

taxes were invented by kings, have you heard of a king paying taxes?😂

[@systembolaget9044]

One greek person writes the truth

[@AndersonFair-cy2bb]

Dividends are dope. Personally, I sometimes use my dividends to buy other dividend and growth stocks for diversification instead of reinvesting in the same stock. To each their own methods though. The good thing is that you’re investing in the first place and that’s what’s important. Salute for the content!

[@Raymondcraw1967RaymondCrawley]

The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner

[@BrewerVera]

That's impressive! I could really use the expertise of this advisors, my portfolio has been down bad. how can I contact them?

[@BrewerVera]

I looked up her full name online and found her page. I emailed and made an appointment to talk with her; hopefully, she gets back to me.

[@cone-kings]

“FOR THE LAST TIME , I DON’T NEED CAR INSURANCE”

[@f-ckmyr0fil81]

Get a

[@Benjamin-om3ih]

You do bro

[@alokpotadar9123]

You do, my one month old bike was parked right in front of home when it was stolen. I don't know how. But after complaint insurance payed me 80% of the cost of that bike, and I was able to purchase a new one.

[@user-el8ig8wf4i]

Thank you for this video!!

[@scottscott5827]

Invest 50% in the stock market and keep 50% in cash for a stable 7% return. 4% is removed by inflation (hidden tax) 3% is removed by fed/state taxes 0% net profit

[@Gazpolling]

Now that i am almost dead, " i think the riches are undertaxed"

[@vscodium1751]

When the end is knocking your door, prepare for the judgement 😆

[@IndelibleHD]

How the rich people avoid alot of things.....

[@larsstougaard7097]

They will avoid this video too

[@r0hanhs]

@@larsstougaard7097 they know all this things and still wouldn't care less. 'cause why not...

[@larsstougaard7097]

@@r0hanhs yes why not .....

[@shalinitiwariscorner5210]

@@r0hanhs Republican party in a nutshell

[@afifr.alhafiz2137]

@popo1310023 are you a billionaire? why aren't you?

[@Biff855]

It's 23.8%. The net investment income tax is applicable. Also, step up in basis only applies if you are under the estate tax threshold, which all these guys are well over. Additionally, the 37% bracket only applies after you have 600k in ordinary income if you're married filing jointly. Warren buffets secretary is probably not paid 600k. Even if she is making 200-300k, she is still paying an overall rate less than buffets 23.8% cap gains plus the niit.

[@jag92949]

I paid 18% in federal, FICA & state taxes combined last year where I made $39.5K. It felt worse than burning it.

[@p.o.4339]

This shouldn't be about the tax system. It should be about the "spend" system. Those who yell the loudest about "not paying their fair share" really think they are entitled to spend your "fair share" and more. Before we change the tax codes, let's change the "spend" codes.

[@Dee_Snuts27]

This is pretty un-pog of rich people 😕

[@xinniethepooh204]

Capitalism 😑

[@prodohsamuel]

This is pretty un-pog of rich people 😕

[@callistoarmy5576]

Hello friends ❤️🥰 Because I'm not famous like other singers that's why no one see my music videos. Please see once and then decide ❤️ .. ✨.. ✨..., ,....

[@Dee_Snuts27]

@@xinniethepooh204 😔🤘🏾

[@xandercorp6175]

You should try it, it's pretty pog.

[@mazzar9633]

"Bruh just be homeless, you dont pay taxes" -Wise Guy

[@B_a_s_t_e_r_b_i_n_e]

Or, invest all your wealth in stocks.

[@user-xs4mu8xm7d]

Were it so easy. There's oft a goods and services tax for everything you buy, and if it's imported, there's oft an import tariff somewhere too. Not to mention the firm/individual which you buy stuff from are also taxed directly, so they're also passing this on to the buyer/consumer, which means that you're indirectly paying for it too. And that's excluding any sin taxes and other taxes to moderate externalities on companies and individuals. Nobody can fully escape from paying taxes.

[@nothingnothing3211]

@@B_a_s_t_e_r_b_i_n_e *Quality stocks.

[@nothingnothing3211]

@Spades The Dictator I heard that they give free play time and gym too.

[@mrmustangman]

i'm just about there..... thanks for the tip......

[@Billionaireben]

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.

[@ant5611]

Other other side of the coin, yes, the rich does pay less in percentage. But the amount is way more in comparison to the general public. They create jobs and pay salary which end up in paying more to the tax department.

[@impatrickt]

I was hoping this was a tutorial.

[@HypothesisI]

That's EXACTLY what it was.

[@jasser1918]

If you get enough money just saved in stocks and avoid the government stealing from you

[@ayush8650]

It is. Start investing.

[@shammerHammer]

Step 1: Be rich.

[@Game_Hero]

@@jasser1918 yeah, stealing, as in "making sure social services can be funded so that quality of life can improve"

[@joestanley250]

Taxing capital gains before the point of sale is a little tricky. I remember when Elon Musk's wealth fell $14 bn in a day. Do you give him back the tax income?

[@MalikSmith774]

Exactly, this narrative they all love to push is ridiculous, you only hear when these guys get richer but I don't hear when their wealth has reduced by $20B in a day. Stocks fluctuate literally everyday

[@Jechto1999]

Although i'm not for such a tax proposal, you can tax capital gains according the the storage principle instead of realization principle. This means that instead of paying taxes when sell based on sell-buy difference. You pay taxes based on the wealth difference between start and end of year. so if your year-to-year growth is 10Bil$ and tax-rate is 20%, you would need to pay 2Bill$ in taxes, for that years gains forcing you to liquidate assets to pay taxes. If you then next year lose 10Bill$ you would get a 2Bill$ tax credit, such that the next 10Bill$ you make is tax free. It has the benefit that it ensures a more stable tax income for the state meaning that instead of the state receiving a lot of money at once. It also has the downside of less tax revenue compared to the realization tax principle. because you lose out on compounding interest due to being forced to sell more and more of your shares each year of growth.

[@jacobnair6707]

@@Jechto1999 yeah that sounds messy. Its definitely tricky. I think step up in basis def needs to go tho

[@aguspermana8643]

taxing something that doesnt exist yet is indeed tricky. a sales tax to something that hadn't been sold

[@conchobar]

@@aguspermana8643 Its not tricky at all. I bet you've heard of property taxes. The average American's greatest investment is taxed on its unrealized gains. No homeowner gets a refund when their home value dips, but they sure do get a tax bill when it rises.

[@nickmedley4749]

Stock investments are not the same as income, it's not even wealth. That's why it's treated differently. This video is deceptive.

[@y.e.e6337]

Well, at least he is honest about it.

[@andrasfogarasi5014]

>at least What is he supposed to do, give up his wealth and get a job?

[@fikridjojo]

who?

[@bureaffari3694]

@@fikridjojo buffet

[@NightDocs]

Big problem I see is there’s a strong argument to make that if you are taxed on the gains of held stock and then the stock plummets you have a pretty unfair system where you get taxed on gains you didn’t actually see

[@PeterEhik]

There’s write offs in the tax law, if you make crippling losses, you can write them off for years and years. That’s kinda how Trump didn’t pay taxes for like 20 years

[@MayMaysPlace]

@NightDocs You only pay taxes when you sell a stock… You DO NOT pay taxes on paper gains! Not a strong argument.

[@Ushio01]

@@MayMaysPlace Except one of the ideas in the video is to change it so you do pay taxes on paper gains. Thankfully it will never happen there are just too many unforeseen consequences.

[@kmh0073]

That's right and they know that. They're not satisfied till common citizens become slaves.

[@mastervader4444]

Learn the difference between realized vs unrealized gains

[@tjcambre5236]

Abolish the IRS VOTE FOR THE NICE INDIAN MAN.

[@moirai1161]

wow i found this insightful but its not enough so i should look more into it

[@user-xc2dj8zb5z]

You change the rule, rich people can find a new way through, still play, and win the game for sure no matter what...

[@yayayayya4731]

And then these people will complain about rich people still being rich. Instead of lifting themselves up, they'll bring others down

[@AbhinavKumar-ov3xf]

@@yayayayya4731 yes these people are jealous and ignorant

[@prime_optimus]

@@yayayayya4731 How can we lift ourselves up after the rich cut our arms off?

[@yayayayya4731]

@@prime_optimus they don't. You make yourself think that.

[@prime_optimus]

@@yayayayya4731 The reason I think getting rich is impossible is because it is. You have to have billions to one luck or be born into money.

[@lordkarinwhiteford2472]

They don't actually have those billions, they just own certain percentages of their companies that are valued at certain amounts. And they get taxed only when they sell parts of their ownerships in exchange for actual fiat money, simple.

[@NeoPendragon]

except regular Americans pay a wealth tax on their most expensive assets yearly, even if they dont realize the gains from it by selling, also its on the whole amount not just the gains, Im of course talking about property taxes which are wealth taxes, why should joe schmoe pay wealth taxes but jeff bezos does not?

[@TheMagicJIZZ]

@@NeoPendragon they pay property taxes too

[@user-yf8gc3tl6o]

@@NeoPendragon we should just get rid of property tax.

[@kamb8s]

That's exactly what the video said, thanks.

[@BigLeagueDrew]

@@NeoPendragon there is no wealth tax in America lol. Property taxes vary state to state. Quit voting for people who think taxing is good. You’re literally watching a video arguing to tax more while you state you don’t want tax. Amazing. Why do you think that Bezos doesn’t pay property tax? That wasn’t even stated in the video.

[@prince-99M]

So if I have sold high worthy stocks, 4 example, do I get too much of tax percentage? ….plz someone tell me.

[@HugoMurray221]

Thanks for the great advice.

[@Scyte]

Victoria II Players : First time?

[@president2887]

Hey

[@MI-lo2hj]

@@president2887 Hey

[@MistahShootrES]

Hey

[@fatbasterd5195]

Hey

[@franzjoseph1837]

Heeeyyyy

[@Weirdastronount]

Imagine the things we could put that money towards if everyone was taxed equally.

[@domfree7710]

Larger war chest?

[@gamers-xh3uc]

it will go to military and bullying other countries

[@z1re784]

@@gamers-xh3uc if America hits 1 trillion in ""defense"" spending you know the international community bouta be mighty questioning about it

[@zachb1706]

Paying off the massive $28 trillion in debt?

[@underratedbollywoodactors6534]

@@gamers-xh3uc paying debt maybe

[@braziltokyoschool]

Warren Buffett pays a maximum rate of 20% of Income tax? It still a lot. I don't know about american tax avoidance law but it's a lot. There are countries that do not exceed 10% and some, it is even 0%. Here in Brazil it is between 6% and 25%, it depends on the annual revenue and the company's framework Tax Avoidance laws are gold

[@lordofwarsandfire]

We have account fees with bank accounts for having lots of transactions and maintenance. Literally, do the same thing with more regulations for stocks and rich people. Do a yearly, monthly, or even weekly "tax" for stock investments for "maintenance"

[@JeandrePetzer]

This is a great video. Explains complex financial topics in laymans terms. Excellent job.