How The Rich Avoid Paying Taxes

the BLM girl's voice is sooooooo annoying

That makes them smart

To add, if you are a W2 employee and earning 150,000 or more in the state of California you can forget writing off anything.. It’s effing ridiculous. So the best thing you can do is create a business or maybe individual contractor so you can avoid being a W2 employee or avoid making a certain amount as a W2 employee to benefit from tax system in US

billionaires aren't 'earners' at all, not in the same way that the rest of us earn money. it's a billionaires' wealth itself that 'earns' him billions more, in passive income.

So you talk and talk and talk about stock - but you had to earn income and PAY TAXES on it first to buy those stocks. Real estate deductions are VERY limited on rentals if you make over $ 150,000 so ??? Oh and who qualifies for education credits - again lower income people. So basically if your salary is $ 200,000 (barely enough to live in the SF Bay Area) you a: Can't contribute to a ROTG b: Can't write off rental losses c: Can't claim education credits - - - so I guess you are saying everyone should make less than $ 150,000 income so they can do all the things you talk about in this video? Am I incorrect the most "tax loopholes" are limited based on income?

Billionaires shouldn't exist. We don't need them. They need us.

I personally think something should be done about that to at least have some balance.Using a fiduciary will also benefit you. At the start of the year, I gradually increased my stock purchases, but nothing significant. Why am I being so harsh with this? Even though others in my sector make six figures per person, I want to be the first member of my polygamous family to earn a million dollars. I am well aware of the expenses involved with putting in longer hours to earn more money.

Capital Gains taxes effect everyone with stocks, bonds, mutual funds, homes, etc. Raising those taxes will adversly effect the middle class much more than the wealthy. Do NOT raise capital gains taxes!!!!

IT IS TIME FOR A MAJOR OVERHAUL.. WE NEED A COMMISSION TO GO THRU OUR RIDICULOUSLY CONFUSING TAX CODE LINE BY LINE AND CHANGE THE WAY CORPORATIONS AND INDIVIDUALS ARE TAXED.. JUST IMAGINE THE FRAUD. THE CORPORATE WELFARE THE STRIPPING AWAY OF DEDUCTIONS..BEEF UP THE IRS..BRING THIS AGENCY INTO THE 21 CENTURY MY GOD ALL THE MONEY SAVED/ TAXED COULD SOLVE OUR DEBT ISSUE FUND HEALTH CARE FUND THE EPA FUND OUR SCHOOL SYSTEMS AND STILL HAVE MONEY IN THE TREASURY...

"Tax the Rich" is a phrase used by Neo-liberals to get your vote. They don't mean it. Tax law is legislated by Congress and there are no new tax laws that will clamp down on the rich. The rich use expensive lawyers and "legal" means to avoid paying taxes. Complicated tax law is written to be obtuse for the masses and only the rich can access it. The 87,000 new IRS tax collectors will NOT go after the rich because the rich are protected. The new tax collectors are going after low hanging fruit, W2 wage earners, people who can not afford lawyers. Katie Porter was wrong. She pontificated that new tax collectors would go after the rich but she just said it to get votes. There is ZERO evidence showing that IRS agents are going after the rich. For instance, there are roughly 700 billionaires in the US. The IRS has the resources to go after every billionaire but they don't. They never will. Trump has been committing tax fraud in NY for 50 years. Nothing has ever happened to him. "Tough on crime." Bullsh*t. There's rules for thee but not for me.

I propose a guillotine tax

what I want to know is when they get loans against their assets, with what money they are paying back? Taxed money? or there's another way?

Amazon pays thousands of tech engineers billions of dollars who then pay taxes. Unfair to call out amazon as tax evader.

Most people complain and complain about how the system doesn't treat them fairly and demand the wealthy pay their "fair" share of taxes. Those same people are the ones who completely steer clear of any tax planning and are the ones who sit on their couches, watch TV all day and run across a turbo tax ad in which turbo tax offers services to completely take "care" of their taxes. Your average person sitting there watching this advertisement doesn't even give it a second thought and spends extra money on a tax professional and continues to sit down and watch TV or party on the weekends instead of learning the ins and outs of tax planning that include numerous tax credits and deductions they could otherwise use to their advantage without the help of a professional, saving thousands of dollars, and potentially doing a better job than those Turbo tax professionals in reducing their tax liability to its fullest extent. Get your priorities straight and quit complaining about something that is 100% in your control. Choices and priorities are what separate the rich from the average person, not the IRS or capitalism/"system".

Right now we have a system that incentivizes “tax avoidance” that really only benefits a very small percentage of the population. We’ve been doing it this way for quite along time…

I think we should try and switch things around. No more tax avoidance everyone pays a flat tax.

So, what do we do?
You're stating the problem, but You're not giving the solution

One is not avoiding paying taxes when you file everything taxable, and are in compliance with the law. If you are doing that you are also paying your fair share. Let's change the stupid language.

This song is a vibe

What about buying art ?They can buy and hold in Freeport’s where no tax,custom is paid.
That’s why art is ridiculously expensive now

Simple graduated wealth tax millionaires 1% over 10 million 2% biillionaire 3% multi billionaire 4% over 100 billion 5% apply to individuals companies and corporations tax wealth and sales not just income and profits

What the 0-50% do to avoid taxes...nothing, they simply don't owe taxes. Do a video about that.

They don't avoid paying taxes they follow the way politicians incentivize business growth, ie Real Estate, Investing, Capital Expansion, Buying equipment, etc. W-2 workers think their paycheck is an investment, Home is a liability not an asset. They don't buy stocks & only pay capital gains tax, ie maybe only 15% instead of a yearly tax rate of 35-50% w/ all taxes included, Social Security, State, Federal, Obama Care etc.

I've never watched more BS than this video about taxes. There are two ways the rich don't pay taxes. The first is what they explained but didn't go into detail about borrow money. If you have an asset that you can take to a bank whether it be a stock Bond mutual fund life insurance or something else that has real value you can borrow against it. For about 90% of its real worth. So instead of selling something which you would have to pay the current tax rate. You only pay 10% and get the money to use any way you want. Then you default on your loan and and then your effective tax rate is 10%. All the money going to the bank and nothing going to the government. The second way is long-term capital gains. That is when you buy something and hold it for more than a year then sell it. The prophet is long-term capital gains. The first $40,000 of long-term capital gains is.... Go find a long-terms calculator and do the math yourself because you won't believe it.

Love how the woman says that the working class don't contribute to the economy as much as the rich.. like the economy is run on the hard-work of the working class people.. Also how stupid to mention that the tax loopholes should exist as the rich can help in unemployment and homelessness like the government cant..

❤️🙏💯✍🏽

How the rich avoid paying their student loans

Don't need to pay taxes on rich people welfare.Should not support the rich

They are not loopholes they are tax deductions that are available to everyone who qualifies, if you don't use them thats your and not rich peoples fault!

"Feeling" and "fair share."

Income tax is illegal.

When you’re talking about the Companies as big as Amazon, they will always pay little if anything for taxes. They are politically connected, geographically dispersed with a legal structure that boggles the mind. They also have teams of brilliant accountants and tax attorneys. As a consumer all costs, including taxes gets passed to you anyway. The better question is how much does the government take in and where is every penny going? Just the government’s rounding errors or amount deemed immaterial could solve some problems.

rich people always talk about how regulating their monopoly power will hurt others and reduce jobs and entrepreneurial initiative, but somehow they still make money when the law does pass.

how do you pay more in tax if you write a check to the treasury and take a tax deduction on it? Would make sense if it was only the write check part.

Uh, if the rich get tax breaks cause they're the economy's engine then none of this makes any sense. The rich aren't driving the economy, spenders, buyers, consumers drive the economy through the demand we create. Entrepreneurs then supply the demand, but if the rich have all the money this ultimately destroys demand cause consumers have less to spend. Therefore we should get the tax breaks, and this is especially true because after a few hundred million dollars making extra money is meaningless.

Annual celery

Great sharing:) It would be awesome to share the same for non US citizens actually

People just scream "tax more" but then they don't care what actually happens with the taxes. Finance the pockets of bureaucrats who are just as greedy as the rich and give the government more power.

Because they pay politicians

Only poor people pay more tax, on the other hand rich people don't pay tax legally..

Wealthiest people should pay half even if you have business 🇺🇸It should be some type of rules in Rich people

Yea for the wealthy! Stop complaining about completely legal behavior and learn the game. See you at the top.

I like how a professor of MIT is coming down against “the rich”, as if she herself is not 😂🙄 I have nothing against “rich” people; it’s just that she sounds like a hypocrite and is making a killing off of being one.

This could also be called “how every US citizen avoids taxes” and still be 100% accurate. Everybody enjoys the same tax breaks -rich or poor. And poor people get all their money back on tax returns anyway, so it’s not like the poor pay taxes and rich don’t. Rather, everyone has the same tax breaks and refunds available to them. If you’re too poor to own a home or buy stocks for those kinds of “tax breaks”, then you’re income is low enough that you get all your tax money back as a refund.

1 - CLOSE the top loopholes
2 - Add free education on all levels
3 - Add free healthcare

Maybe that isn’t tax avoidance. Maybe that is a really bad tax system created by people that think they are smarter than everyone else but are really just self indulgent, self promoting, arrogant idiots.

What if you wanna sell a stock for another stock. You anyway gonna realise capital gains.

Maybe because congress writes in loopholes.

research article 5 the convention of the states of the constitution, the framers placed it there to protect WE THE PEOPLE: repeal the income tax and replace it with a national sales tax - no exemptions. you buy - you pay

plz money :)))))