last year that Musk used a portion of his Tesla stock to get a loan for $550 million. Because borrowed money doesn’t count as income, that money isn’t taxable either.
“If a bank looks at somebody who has a few billion dollars in stocks or even a few million, they're very, very low risk,” says Huang. “So they can fund those lifestyles and really enjoy the benefits of that income without having to pay taxes on that.
“Unlike most ordinary Americans, [wealthy people have] the ability to shape laws by having their voices heard at every stage of the lawmaking process and the making of regulations,” Huang says. “They have armies of lawyers, accountants, and lobbyists who weigh in on legislation [and] on regulations and can help them through the process of challenging the IRS in court.”
Tax lawyers are also prepared for the off-chance that their multi-million-dollar or multi-billion-dollar client is audited by the IRS — a disproportionately infrequent practice that allows the wealthiest Americans to illegally
Anyone can get away with, not paying taxes. The IRS is a privately owned corporation. Just government funded. Same as DMV privately owned corp - gov funded. Look back in to history how taxes came to be.
your own article points out wealth != Income. Taxing wealth is taxing potential, not actual. If you think they'll confine that to the rich lol you are being ignorant. The income tax was initially for the wealthy only, eventually they'll be taxing the increased value in your home
Why are people making him richer by using Amazon, rather than shopping locally and adding money to their community?
Drag him young queens
CapitalismCooksThePlanet FilthyRich = PrivilegedPolluters YouFlyWeDie YouCruiseWeLoose FashionFuelsTheFire ClimateCrisis - ClimateCataclysm TaxTheRich NoMoreBillionaires ClimateJustice ClimateAction ClimateRevolution
It's definitely something I hate as well and it's disgusting. They should be paying the most money because they can afford to and have millions and billions left over.
This one as well...
the same way rich democrat voters don't, they buy off politians. i'm tired of the DNC and their TaxTheRich crap, like they pay their 'fair share'.
Flat tax for everyone.
oh yes, I absolutely see it!
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