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Steve Lamar

๐Ÿ‘ค Speaker
232 total appearances

Appearances Over Time

Podcast Appearances

Articles of Interest
Taxes and Tariffs

Just don't pay taxes, almost none.

Articles of Interest
Taxes and Tariffs

And to be clear, when I'm talking about rich people, I'm not talking about, like, a doctor or a lawyer.

Articles of Interest
Taxes and Tariffs

The lifetime earnings of a doctor, on average, are $6.7 million.

Articles of Interest
Taxes and Tariffs

A hedge fund manager earns, on average, $84 million over a lifetime.

Articles of Interest
Taxes and Tariffs

Those are wealthy people by any measure.

Articles of Interest
Taxes and Tariffs

But they pale in comparison to Mark Zuckerberg's net worth, which is $237 billion.

Articles of Interest
Taxes and Tariffs

Jeff Bezos is worth $269 billion.

Articles of Interest
Taxes and Tariffs

And, you know, the difference between a million and a billion is massive.

Articles of Interest
Taxes and Tariffs

It's literally a thousand times larger.

Articles of Interest
Taxes and Tariffs

So we're talking about phenomenally wealthy people, people who are above a paycheck.

Articles of Interest
Taxes and Tariffs

We are talking about people who are so rich that they do not need to earn an income.

Articles of Interest
Taxes and Tariffs

Because income gets taxed.

Articles of Interest
Taxes and Tariffs

Like people who earn a lot of money, the working rich, they pay taxes.

Articles of Interest
Taxes and Tariffs

They pay a lot of taxes, actually.

Articles of Interest
Taxes and Tariffs

They are our comrades here.

Articles of Interest
Taxes and Tariffs

And this, in part, explains why we no longer see the top hats and the tiaras and the cigars wrapped in $100 bills.

Articles of Interest
Taxes and Tariffs

All that visible excess attracted too much attention.

Articles of Interest
Taxes and Tariffs

The splashy largesse of the rich led to the creation of a tax code that was meant to curb all that behavior.

Articles of Interest
Taxes and Tariffs

In the years since, that fair tax system we made has been whittled away.