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Facts about billionaires. They don't have bank accounts like we do...

They have art collections, yachts, mansions and stocks.

None of it is taxed until they sell it. So they don't sell it; they borrow against it instead. They then live off the loans and pay almost nothing.

Then when they die, their children inherit it, all tax-free.

Their wealth never gets taxed. It just gets passed down.

For the rest of us:

We're taxed when we earn money.
We're taxed when we spend money.
We're taxed when we save money.
And we're taxed when we're dead and our children inherit our money.

Billionaires borrow against their wealth, and skip all four.

Same country, different rules.

And Americans wonder why the inequality gap keeps getting wider.
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BohoBabe · M
This is why I see America is kind of being an ethnostate, but instead of a race or ethnicity in a trad sense, the race that the system protects is rich people. Rich people are treated like a race in that it's something you're born into. If you're born rich, you inherit property, and then no matter how much money you lose during your life, you can always get billions in subsidies by leveraging your property.

I do disagree that billionaires don't pay any taxes, but they do have laws and loopholes that allow them to pay much less than they should.