Ray Madoff
👤 Speaker
172
total appearances
Appearances Over Time
Podcast Appearances
Articles of Interest
Taxes and Tariffs
The most recent number is 40 percent that don't pay income taxes.
Articles of Interest
Taxes and Tariffs
But the vast majority of that group pays significant payroll taxes at quite high rates.
Articles of Interest
Taxes and Tariffs
Some people might be wondering, how do rich people avoid taxes?
Articles of Interest
Taxes and Tariffs
I'm going to tell you what the tricks are, and I'm going to forewarn you, chances are you can't do them.
Articles of Interest
Taxes and Tariffs
And Congress is like, what, is something happening here?
Articles of Interest
Taxes and Tariffs
They're literally doing nothing.
Articles of Interest
Taxes and Tariffs
Congress is engaged in complete quiet quitting and has done nothing to close any loopholes since 1990.
Articles of Interest
Taxes and Tariffs
The first step of the tax avoidance playbook is to avoid salaries.
Articles of Interest
Taxes and Tariffs
He takes $100,000 in combined salary and bonus, never more than that.
Articles of Interest
Taxes and Tariffs
Jeff Bezos makes $82,000, enough for him to claim the child tax credit, which he does.