Chapter
How Rich People Avoid Paying Taxes
18:19 - 21:36 (03:17)
The podcast discusses how rich individuals are able to avoid paying taxes through various schemes, while lower income individuals are often offered loans with low interest rates that keep them in debt for extended periods.
Clips
The podcast discusses an article on how rich people pay fewer taxes due to having access to loans with low-interest rates.
18:19 - 18:58 (00:38)
Summary
The podcast discusses an article on how rich people pay fewer taxes due to having access to loans with low-interest rates.
ChapterHow Rich People Avoid Paying Taxes
Episode#192 - Making Billions with Greeting Cards, How the FBI Took Down Thousands of Criminals, & Rich People (not) Paying Taxes
PodcastMy First Million
In this podcast, the speaker explains the financial strategy of wealthy individuals such as Elon Musk, who takes loans to live on and leverages their money by lending it out to others at a higher rate.
18:58 - 20:29 (01:31)
Summary
In this podcast, the speaker explains the financial strategy of wealthy individuals such as Elon Musk, who takes loans to live on and leverages their money by lending it out to others at a higher rate.
ChapterHow Rich People Avoid Paying Taxes
Episode#192 - Making Billions with Greeting Cards, How the FBI Took Down Thousands of Criminals, & Rich People (not) Paying Taxes
PodcastMy First Million
The podcast hosts discuss how CEO salaries work and how some CEOs may not actually receive a salary, but instead make their money through stocks.
20:29 - 21:02 (00:32)
Summary
The podcast hosts discuss how CEO salaries work and how some CEOs may not actually receive a salary, but instead make their money through stocks.
ChapterHow Rich People Avoid Paying Taxes
Episode#192 - Making Billions with Greeting Cards, How the FBI Took Down Thousands of Criminals, & Rich People (not) Paying Taxes
PodcastMy First Million
The wealthy avoid paying taxes on their stocks by not selling them and instead using them as collateral for loans to finance their lifestyles.
21:02 - 21:36 (00:34)
Summary
The wealthy avoid paying taxes on their stocks by not selling them and instead using them as collateral for loans to finance their lifestyles. Furthermore, interest payments on these loans can also be tax-deductible if the money is invested.