How Wealthy Billionaires Avoid Income Taxes! Learn the truth about Wealth Hoarding. Pt 1

This section shows that ultra-high-net-worth individuals (UHNWIs) with investable assets of at least $30 million have seen their equity investments perform exceptionally well during the pandemic. Most UHNWIs derive their wealth from owning and leveraging business interests and, as capitalists, are not subject to income tax unless they sell one of their assets. They can avoid taxation on income by borrowing against their stock portfolios and interests rather than selling their stocks which would generate revenue.
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This is a Clip from the Vlog "r/IRS Questions," which hopes to provide a steady path of information for the /r/IRS Reddit community and anyone interested in tax compliance. This channel also features the latest Internal Revenue Service news, IRS commentary, and tips from tax expert John R. Dundon.
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How Wealthy Billionaires Avoid Income Taxes! Learn the truth about Wealth Hoarding.