It's not "income" from a job, so it's taxed differently and let's them make fun of us plebs for working an honest job.
You don’t understand it’s “lifestyle creep”. First you buy a ps5 then you end up with a 3 yachts and a controlling interest in a media empire. It sneaks up on you.
My mom's exact words: "I am not rich! I have three mortgages!"
Enjoy middle class in the US, pay 40% income taxes, pay taxes on a tiny house that somehow costs 2 million, pay taxes on a car, spend the rest of your income on fuel and car maintenance and end up living paycheck to paycheck.
There is no middle class, just proletariat and bourgeois.
B-B-but they create jobs they are good people, deserve less tax 🥺
Three billionaires downvoted this! I wonder which 🤔
Who has a billion in income?
Your mom on Friday nights.
💀
Elon, bezos, gates, the usual suspects
They do not have a billion in "income" otherwise they'd get taxed up their nose like regular people do. Their wealth is in their assets like stocks and properties which gets taxed at a far lower rate.
Isn’t that income?
Not income at all which and also the reason why it's taxed very differently (and perhaps unfairly).
Income is your wage or the actual money you make from your business. Most rich people generate wealth via their assets (e.g, the stock / property they own skyrocketed in value), and these are only taxed when sold and at a much lower rate.
None of them have billions in income, net worth isn't income- unless you consider someone who owns a $200,000 house but with a $40,000 a year job having $240,000 income
Billionaires just don't pay taxes. It's not like they have to let anyone know, they just have the tax code written so that their yachts are tax write-off's their private estates are historical landmarks and their private jets qualify for the same fuel subsidies that major airlines get.
Rich people problems
I think the link is broken but I'm upbearing you anyway
