Ray Madoff
👤 SpeakerAppearances Over Time
Podcast Appearances
He said they don't pay income taxes.
The most recent number is 40 percent that don't pay income taxes.
But the vast majority of that group pays significant payroll taxes at quite high rates.
Some people might be wondering, how do rich people avoid taxes?
I'm going to tell you what the tricks are, and I'm going to forewarn you, chances are you can't do them.
And Congress is like, what, is something happening here?
They're literally doing nothing.
Congress is engaged in complete quiet quitting and has done nothing to close any loopholes since 1990.
The first step of the tax avoidance playbook is to avoid salaries.
He takes $100,000 in combined salary and bonus, never more than that.
Jeff Bezos makes $82,000, enough for him to claim the child tax credit, which he does.