“Taxing The Rich” Won’t Work
During election time, I hear/see people demanding to “tax the rich”, as if it’s magically going to solve all their problems..
Unfortunately, the more you try to tax the rich (an intelligent demographic, obviously), the more strategic they become with their money/finances.
Introducing; the $1/year salary.
How the fuck are you going to tax $1 annual salary of a billionaire? 🤔 These MFs are so strategic, the average person or lawmaker has no chance to outsmart the ingenuity of their accountants.
Below is a tiny sample from a list of uber wealthy people who are known for paying themselves $1/year salary;
-Arnold Schwarzenegger (former Governor of California)
-Donald Trump (current President of the United States)
-Elon Musk (Tesla Motors, SpaceX)
-Eric Schmidt (Google)
-Evan Spiegel (Snap)
-John F. Kennedy (former President of the United States)
-Larry Page (Alphabet Inc.)
-Mark Zuckerberg (Facebook)
-Sergey Brin (Alphabet Inc.)
-Steve Jobs (Apple)
On the other hand, a lot of wealthy/successful people set up their own charities/foundations so they can donate a discretionary amount for discretionary needs. I would rather trust the CEO of a successful company to solve problems than a politician (who typically just talk-the-talk).
Imagine voting for a politician who proclaims they will solve your problems by “taxing the rich” — only to realise that politician knows very well what I’ve explained above, and knows very well that “taxing the rich” doesn’t solve anything.
These politicians are trying to appeal/fool the masses to win their votes, selling them a fake solution they know deep down won’t fix anything. That’s pretty messed up, huh?
(If I’m wrong, feel free to correct me by commenting below and I will revise my post. For example, if you have proof when taxes were last raised, billionaires actually paid more taxes, I’d love to see that..)
That said, I have some good news and some bad news.
Good News: you can [truly] earn your own wealth
Bad News: earning your own wealth will take time and effort, PLUS you better do it fast before your job is replaced by automation/robots
Here’s an explanation; Why I Work 80 Hour Weeks (And You Should Too)