https://www.youtube.com/watch?v=Jxtr-r_pd5I&feature=youtu.be
Clearly, one of the reasons the rich get richer is because they earn a lot of money without paying much, if anything, in taxes. They know how to use banks' tax-free money to become richer.
Anyone can do the same. For instance, instead of paying capital gains tax on the sale of our condo units, real estate laws allowed us to defer paying these taxes and invest them into another property instead. The cash that does come from this property goes into our pockets at a lower tax rate because there's no Social Security or self-employment tax to pay, and the tax rate is further reduced by the depreciation of the property.
On the flip side, the poor and middle-class toil away for their money, pay more in taxes the more they earn, and then park their earnings in savings and/or retirement accounts. In the meantime, they receive little or no cash flow on which to live while wait-ing for retirement—when they'll live on their meager savings.
Doesn't it make more sense to play by the rules of the rich, and earn more while paying less in taxes?
Created by qiqin1103 | May 23, 2020
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Created by qiqin1103 | May 14, 2020