How The Rich Never Need to Pay Tax - How Money Works - #Shorts

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OK here is how to never pay taxes….. if you’re already rich.

There are two types of taxes that you really want to avoid in countries like the US… income taxes and capital gains taxes.

Income taxes are easy to avoid… as a billionaire most of your wealth is tied up in company stock… your salary (…if you have one) is barely noticeable.

But selling off your shares to free up cash in order to buy mansions, jets, Pokemon cards, and super-yachts will incur capital gains taxes… soo you need to find a way to turn shares into cash without actually selling them.

Fortunately your friendly local banker will be more than happy to write you are loan using those shares as security at record low interest rates…. and tada, you have money to spend that you didn’t need to pay tax on.

The new York times recently reported that over 2.7 trillion dollars in wealth was stored this way, with not a dime of tax paid on it.

So congratulations mystery internet billionaire, and for more hot tips like this, make sure to like and subscribe to keep on learning how money works.





#HowMoneyWorks #Shorts #tax



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