How the Rich are avoiding taxes. Wheather its biden or Trump Rich will always find loopholes in taxs
#powell #tax #stockmarket #crypto #powellspeech
#speech #biden #usa #usavschina #energycrisis #inflation #recession

How the wealthy avoid the taxes


Am average household pays 14% in income tax as per the data of 2021, with the maximum tax rate being 37%
But according to U.S department of treasury the wealthiest Americans are dodging up to $163 billion annually and through legal ways that the government can’t do anything while knowing everything
Jeff Bezos who is currently the richest man , paid an income tax rate less then 1% between 2014 to 208 of his income of about $4.2 billion
Even George Soros who has long advocated higher taxes for wealthy Americans paid no income tax for three years in a row
Without travelling to Switzerland or Panama there are other popular and legitimate ways to avoid paying taxes in United sates
How are they able to do it?
In 2021 pro Publica an investigative news website went through tax files of some of the wealthiest men such as Jeff Bezos, Michael Bloomberg, Elon musk and others and published an in-depth report about their tax returns and the ways they use to avoid it.
ProPublica states some of the ways as:
1- Borrowing rather than selling stocks
1- Turning High-Tax-Rate Trading into Low-Tax-Rate Income
2- Making Money While (Legally) Reporting Losses: The Magic of Sports Ownership
3- The Real Estate and Oil Businesses Can Both Be Tax Havens
4- Think Your Taxes are Too High? Change the Tax Laws
1- Turning High-Tax-Rate Trading into Low-Tax-Rate Income
2- Making Money While (Legally) Reporting Losses: The Magic of Sports Ownership
3- The Real Estate and Oil Businesses Can Both Be Tax Havens
4- Think Your Taxes are Too High? Change the Tax Laws
5- Symbolic salaries or no salaries
6- Wealthy Families Pass Billions to Heirs While Avoiding Taxes

Tags:
Vox.com,explain,explainer,vox,capital gains,taxes,tax,20%,39.6%,elon musk,jeff bezos,morris pearl,tax the rich,patriotic millionaires,millionaire,top 1%,wealth explained,stocks,stock market,how the richest make money,berkshire hathaway,warren buffett,secretary
tax loopholes for small business,tax loopholes for the rich,tax loopholes for real estate,tax deductions,taxes for dummies,income tax,tax refund 2019,taxes 2019,how to not pay taxes,why your refund isn't bigger,legal tax loopholes,tom wheelwright tax free wealth,tom wheelwright,robert kiyosaki taxes,tax loopholes,how to not pay taxes legally,how to avoid taxes,how the rich avoid paying taxes,debt and taxes,tax deductions explained,taxes explained
TheRichDadChannel,robert,kiyosaki,rich dad poor dad,motivational speakers,business ideas,make money,how to get rich,network marketing,how to make money,how to invest,passive income,cashflow game,debt and taxes robert kiyosaki,debt and taxes make the rich richer,using debt and taxes to get rich,Tom Wheelwright,Ken McElroy,Robert Kiyosaki,Financial education,good debt vs bad debt,how to use debt to make money,tom wheelwright tax free wealth

what do you do for a living,how to become a millionaire,new york city,nyc,how to be a millionaire,income in nyc,income in new york city,new yorkers,nyc interview,shan Rizwan

billionaires,tax,how do billionaires avoid tax,jeff bezos tax,elon musk tax,warren buffet tax,steve balmer tax,tax avoidance,paradise papers,irs papers,panama papers,how money works,biden billioanire tax,income tax,capital gains tax,inheritance tax,billionaire tax rate,elon musk net worth,how did elon musk get so rich,bill gates tax,donald trump tax,who paid the most tax,biggest tax return,finance,business
luxury,luxurious lifestyle,avoid paying taxes,avoid paying taxes legally,how rich people avoid paying tax,how rich people avoid paying taxes,how rich people avoid paying tax legally,how rich people avoid paying tax 2022,how rich people avoid paying taxes 2022

understanding your deductions,taxes made simple,tax strategy,tax expert,karlton dennis,taxes made simple karlton dennis,deductions in taxes,tax deductions,tax planning,easy tax tips,tax tips,taxes made easy,taxes explained simply,small business,how the rich avoid paying taxes legally part 1,how the rich avoid paying taxes,how rich avoid taxes,income tax return





Attribution
Vidio is made with the help of lumen5
https://lumen5.com/
By Van Ha - https://www.dvidshub.net/image/3908584/jeff-bezos-visits-laafb-smc, Public Domain, https://commons.wikimedia.org/w/index.php?curid=100255826

Data is taken by ProPublica news
https://www.propublica.org/