Re:What lies beneath: Evidence from leaked account data on o...
by alasdair_ on Monday May 24, 2021 @07:54PM
(#27271104)
> Then end capital gains tax, all income is taxed as earned income.
Wealthy people can keep their money growing inside a corporation essentially forever. It never becomes “income”; instead they just borrow against the assets at exceedingly low rates of interest as well as classifying personal consumption items (like a private jet) as a corporate expense.
It’s possible to keep doing this until death, or even longer.
Wealthy people can keep their money growing inside a corporation essentially forever. It never becomes “income”; instead they just borrow against the assets at exceedingly low rates of interest as well as classifying personal consumption items (like a private jet) as a corporate expense.
It’s possible to keep doing this until death, or even longer.