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I keep hearing people say "tax the rich" but how do the rich not pay taxes? (sorry for the dumb question, I don't know much about this)

but yeah,

I'm really uneducated with this type of stuff, but am trying to learn 👀

plz b gentle
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empanadas · 31-35, M
There are tax breaks and loopholes but at least in the USA, there's a tax for basically everything here. It's hard to run away from taxes nowdays. Unless, you give up your citizenship from the legacy countries and invest in a country to get citizenship then move to dubai
Elessar · 26-30, M
@empanadas Yeah, give a look to how much Bezos, Musk, Trump et al pay in taxes every year.

It's hard for you perhaps, not for the (ultra) rich
Fishy · 36-40, F
@Elessar (where do you find that info?) 👀
Elessar · 26-30, M
@Fishy Just Google, you'll find plentiful of information

https://www.propublica.org/series/the-secret-irs-files

https://www.forbes.com/sites/tommybeer/2021/04/02/more-than-50-major-us-corporations-including-nike-and-fedex-paid-no-federal-taxes-last-year/

https://www.businessinsider.com/american-billionaires-tax-avoidance-income-wealth-borrow-money-propublica-2021-6?r=US&IR=T
empanadas · 31-35, M
@Elessar don't assume things, 🤷🏽‍♂️ you aren't even from here. One, you have no idea how much I own or If I'm rich. Two, you just European who thinks they know everything about the USA from bias articles. Most of those billionaires you see are paying the minimum 33 percent of taxes. There's a reason why alot of wealthy people are leaving the USA and are moving to Asia.
Elessar · 26-30, M
@empanadas Lol, tax rates are numbers, specifically numbers that are publicly available, there's no need for assumptions, for articles that may be biased or not, and last but not least my geographical collocation is absolutely irrelevant when it comes to comparing percentages. The "you don't live here therefore you can't point out our system's fallacies" argument is purely deflective, as math isn't an opinion and doesn't recognize national borders. Besides, I could similarly say you're making assumptions too, for instance you couldn't exclude I may have experience running a business (and, by extension, filling tax returns) in both continents.

Also, ultra-wealthy individuals and corporations reliance on tax havens, just as you pointed out yourself by mentioning escapades to Asia, just like the so called "fiscal optimization", happens in virtually every country they operate in, even if the geographical gatekeeping was valid I'd be just as entitled at pointing it out as virtually anyone else living and paying (percentually higher) taxes in any of such countries.