New Report Reveals How The Wealthiest Americans Avoid Income Tax 1

New Report Reveals How The Wealthiest Americans Avoid Income Tax

 

Risk Reversal Advisors Principal, Dan Nathan, and CEO and co-founder of Ritholtz Wealth Management, Josh Brown, joined Stephanie Ruhle break down a new report revealing that the 25 richest Americans paid little or nothing in federal income taxes certain years. Plus, former mayor of Stockton, California, Michael Tubbs, joins the conversation and argues that the post-pandemic economic recovery could change how people think about universal basic income and other benefits.
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41 comments

  1. Imagine: you had to spend 10.000 dollar each and every day…how long would it take to spend a whole billion?

    2,5 lifetimes

    Jeff Bezos „earned“ 150 Billions from working people.

    Something is deeply wrong!

    1. How is it wrong? He is not stealing the money. People are willingly giving it to him. Everytime you buy something on amazon, you are giving him your money. Solution, people should stop buying crap online, start buying local and keep the money local. So simple, yet people just don’t get it.

    2. Well, you say that pressuring employees to pee in bottles isn’t wrong…
      Pressuring politics to keep tax holes alive isn’t wrong…
      Building by force a monopol isn’t wrong…
      Squeezing the small businesses isn’t wrong…
      Copiying successful concepts while monitoring their sales isn’t wrong…

      Well, then your remark is correct

  2. Limit the inherable sum for each child to 10 Billion.

    10 Billion should be enough to start a descent life, right?

  3. Let’s tax these dudes more, please. The government needs the tax revenue to help the homeless and provide healthcare for all

    1. “These dudes” built the rigged system for themselves to get richer. When the crooks set the rules, only the crooks benefit, everybody else gets screwed.

    2. The government could take all the money from the wealthy and still need more. Waste runs rampant in the government. Fix outrageous spending and we could all enjoy tax breaks.

    3. It’s called a Value Added Tax. Bezos spent 500 million on a yacht. Make the tax on yachts to be 80%

  4. The world would be a better place if the Republican was an endangered species we allowed to go extinct!

    1. @Nef You see the fundamental difference between the Dems and the Republicans is Dems believe money trickles up far more efficiently than it trickles down meanwhile the Republicans believe in Trickle Down Economics which history and the economic data proves doesn’t work. When you give massive tax breaks to the wealthy and big corporations there is no guarantee that they will create jobs and that money will trickle down. In fact, they are more likely to give executives raises and all it serves to do is increase the wealth gap. The Dems on the other hand believe in placing most of the tax burden on the wealthy and giving tax breaks to the working and middle classes. They know that when the working and middle classes are doing well then everyone benefits because the working class is more likely to spend while the wealthy are more likely to save. The Republicans talk a lot about deregulation but all deregulation does is allow big corporations to cut corners and take advantage of the working class. Deregulation and lack of government supervision was the cause of the Great Recession of 2008 and most recently the events in Texas with the power grid. That is the reason the Dems are better for the economy and the economic data proves it. I challenge you to find a single source that uses economic data to make the case that the Republicans are better for the economy. You can’t because it doesn’t exist! Prove me wrong! Hopefully you learn something today.

    2. @Ben Parker brilliant, give all the power to one party, let’s see how that works out with unchecked corruption.

    3. @Polar Opposite Kid are you stupid or something? You live in a country were political corruption is practically legal! Good thing is there is one party talking about campaign finance reform and getting money out of politics. I give you a hint! It’s not the Republican party!

    4. @hammertoe00 You mean the world’s 5th largest economy? I wonder if you know just how dependent on federal funding the vast majority of red states are? One can easily conclude that if it wasn’t for blue states like CA life in red states would resemble that of a third world country. I mean Trump won more counties than Biden but the counties that Trump won represent only 30% of the country’s GDP! So I ask you, given this knowledge and the fact that Republicans have caused 11 of the last 12 recessions, what business do the Republicans have discussing the economy with the Dems? Would you demand equal say if you only owned 30% of a business and you partner owned the rest? Democratic presidents create more than twice as many jobs per year as Republican Presidents. Republican presidents’ deficits are 54% larger than Democrats’ and 65% higher as a percent of GDP. GDP grows 75% faster under Democratic Presidents. Business investment has grown twice as fast under Democratic Presidents than under Republican Presidents. Since 1962, GDP growth has been 75% higher under Democratic Presidents. Business Investment Growth has been 126% higher under Democratic Presidents. Unemployment has been 15% higher under Republican Presidents. Average increase in weekly earnings have been positive under Democratic Presidents and negative under Republican Presidents. I could keep going but I think you get the point. There isn’t a single piece of economic data that Republicans can point to and say we are better for the economy.

  5. Why is it wealthy Americans with money still find the need for money? Yet they resort to tax avoidence.

    1. It’s not really avoiding taxes.. Just cant tax investments until you cash out. Even my weak investments are all pre-tax.

  6. Hard work is punished. Who’s gonna buy the goods, repair the roads damaged by their trucks, when their wealth is not used to compensate employees. Easy to tax wealth. Call it income. They will find a way. Ask any working person.

  7. I don’t know who needs to hear this but stop saving all your money, invest some of it if you really want financial freedom

    1. @grateful I don’t have her email address but you can reach Mrs Raghee Horner on Whats-App, pls tell her I referred you so she replies your message

    2. It is really refreshing to see a comment about Expert Raghee. I got a chance to benefit from her services a few months ago and it has been a very smooth experience it amazing how accurate her market analysis are, and how good and patient she is with beginners and newbies

    3. I have heard a lot good about this woman on so many channels here on YouTube, she’s really good at what she does.

  8. Cancel the toxic student loans immediately. There is literally no financial reason not to now

  9. Restaurants still insisting on paying $2.16 per hour and having their workers begging for tips to make up the rest of their living. While dealing with spitting rude customers is insanity. Why is the customer the supporter of the workers? Get rid of these archaic tip systems

  10. So when they go to borrow money, tax them based on the assets stated, and consider it a sales tax on high valued assets. Argh. You’ll just call that a wealth tax.

    And then the same expert tiptoes around major investments infrastructure.

  11. The US is such a culture…. Just a very conservative/ right wing culture… hence the wealth & …

    1. Conservative and right wing culture.. hence the wealth? Yeah you tell yourself that while corporations that are left leaning cater to all the lgbtq and the left during pride month claiming to be pro Lgbtq but not in other countries. AOC selling $30 – $50 t shirts to fight climate change. Coca cola telling their workers to be less white.

    2. @hammertoe00
      Not sure you understood my point that this is the US/ or any nation is just a culture.., hence the wealthy and those with a lack of empowerment.. ie the disparities in the US esp.
      Ie the culture of having these disparities in just a culture in the US..
      Not sure about your other points?

  12. For instance…, it is a culture of restaurants off loading their responsibilities of paying staff to the customers to pay tips…

  13. We were never supposed to have a class system in this country. A set of rules that favor the rich and disproportionately oppress middle and poorer social classes is essentially an economic jim crow system. The entire tax code has to be rewritten so that those who earn more never pay a smaller proportion. They should contribute more to the country that enabled their wealth.

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