1. The wealth of around 700 billionaires in the United States increased by more than $2 TRILLION since the start of the pandemic.
Now there is a push to close a loophole that allows billionaires to avoid paying taxes
And the billionaires are angry
popular.info/p/the-billiona…
Now there is a push to close a loophole that allows billionaires to avoid paying taxes
And the billionaires are angry
popular.info/p/the-billiona…
2. Increase in wealth (March 2020 to October 2021)
MUSK: $24 BILLION ➡️ $209 BILLION
BEZOS: 113B ➡️ 192B
GATES: 98B ➡️ 132B
ELLISON: 59B ➡️ 124B
PAGE: 50B ➡️ 120B
ZUCKERBERG: 54B ➡️ 117B
popular.info/p/the-billiona…
MUSK: $24 BILLION ➡️ $209 BILLION
BEZOS: 113B ➡️ 192B
GATES: 98B ➡️ 132B
ELLISON: 59B ➡️ 124B
PAGE: 50B ➡️ 120B
ZUCKERBERG: 54B ➡️ 117B
popular.info/p/the-billiona…
3. How do these billionaires accumulate so much wealth, live lavish lifestyles and pay little to no taxes?
They borrow against unrealized capital gains, which are untaxed
Musk, for example, has pledged 92 million Tesla shares to secure debts
popular.info/p/the-billiona…
They borrow against unrealized capital gains, which are untaxed
Musk, for example, has pledged 92 million Tesla shares to secure debts
popular.info/p/the-billiona…
4. Yes, Musk, the world's wealthiest man CARRIES AN ENORMOUS AMOUNT OF DEBT
He obviously doesn't need to borrow money. It's a scheme to avoid taxes
To help pay for the reconciliation bill, Dems are considering a new tax on billionaire's unrealized gains
popular.info/p/the-billiona…
He obviously doesn't need to borrow money. It's a scheme to avoid taxes
To help pay for the reconciliation bill, Dems are considering a new tax on billionaire's unrealized gains
popular.info/p/the-billiona…
5. Musk is quite upset. He warns that if the government starts taxing what he uses as his income (unrealized capital gains) they soon will start taxing everyone's income.
Hey, guess what? Everyone else is already paying income taxes!
popular.info/p/the-billiona…
Hey, guess what? Everyone else is already paying income taxes!
popular.info/p/the-billiona…
6. Musk paid ZERO income taxes in 2018. And he paid just over a 3% effective rate from 2014-2018. Middle-class Americans are paying far more than that right now
A new tax on unrealized capital gains for billionaires only begins to level the playing field
popular.info/p/the-billiona…
A new tax on unrealized capital gains for billionaires only begins to level the playing field
popular.info/p/the-billiona…
7. Some say billionaires will just evade this new tax.
But tax gurus for the ultra rich say this tax will be very difficult to avoid.
"This is going to be perhaps the most difficult tax we have ever seen in terms of trying to plan to minimize it"
popular.info/p/the-billiona…
But tax gurus for the ultra rich say this tax will be very difficult to avoid.
"This is going to be perhaps the most difficult tax we have ever seen in terms of trying to plan to minimize it"
popular.info/p/the-billiona…
8. Although this tax would only impact around 700 people it could raise an enormous amount of money.
The number being floated is $250B over 10 years
But the real number could be $500B+
popular.info/p/the-billiona…
The number being floated is $250B over 10 years
But the real number could be $500B+
popular.info/p/the-billiona…
9. This billionaire's tax would be the most progressive tax in history.
Whether or not it will become a reality will play out over the next few days.
For UPDATES sign up for my newsletter, Popular Information:
popular.info/subscribe
Whether or not it will become a reality will play out over the next few days.
For UPDATES sign up for my newsletter, Popular Information:
popular.info/subscribe
10. Musk made $36 billion on MONDAY. It would take a typical working person 800,000 years to make that amount.
popular.info/p/the-billiona…
popular.info/p/the-billiona…
• • •
Missing some Tweet in this thread? You can try to
force a refresh
