‘We get the living daylights taxed out of us’: How billionaires like Elon Musk avoid taxes on their massive wealth
View original at finance.yahoo.com‘We get the living daylights taxed out of us’: How billionaires like Elon Musk avoid taxes on their massive wealth ALLISON ROBBERT / Getty Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below…
What we drew from this source
The claims Via News extracted from this document. We point to the source; we don't replace it.
Those trying to build wealth have an obligation to legally pay as little tax as possible
80% confidenceReal estate investors can legally use debt to pay no taxes, through deductible interest payments that offset cash flow
80% confidenceKiyosaki owns hotels and 15,000 rental properties and makes a lot of money while paying no taxes
80% confidenceReal estate investors using debt can legally pay no taxes due to interest deductibility and other benefits
80% confidenceThe primary wealth-building tax strategy is to buy stocks, never sell them, and borrow against them to access liquidity
80% confidenceAmericans face multiple layers of taxation on earnings, purchases, and property ownership
80% confidenceBorrowing against appreciated stock rather than selling avoids capital gains tax while allowing continued compounding
80% confidenceGovernment size should be reduced so people can keep more of their hard-earned money
80% confidenceTax avoidance is a key skill to building wealth
80% confidenceKiyosaki is carrying $1.2 billion in debt
80% confidenceThe optimal wealth strategy is to invest, borrow against assets, die, place assets in a trust, and pass them to heirs
80% confidenceAmericans are over-taxed and government spending does not align with taxpayers' preferences
80% confidenceKiyosaki owns hotels and 15,000 rental properties, makes a lot of money, and pays no tax
80% confidenceWealthy investors should use the buy-borrow-die strategy: buy stocks, never sell, borrow against them, then pass to heirs via trust
80% confidenceBy borrowing against appreciated stock instead of selling, investors avoid realizing capital gains while keeping assets compounding
80% confidenceAmericans are overtaxed and much of government spending goes toward things citizens disagree with
80% confidenceTax avoidance is a key skill to building wealth
80% confidenceKiyosaki is carrying $1.2 billion in debt
80% confidenceAmericans are taxed on what they earn, what they buy, and what they own
80% confidenceBuilding wealth creates an obligation to pay as little tax as possible, legally, similar to a prisoner of war's obligation to escape
80% confidenceGovernment should be reduced in size so that people can keep more of their money
80% confidence