There was a time i once lived in America and Canada. Paid about the same in taxes but get way more for my taxes in Canada. Most Americans hate the government (hate giving them their money even more) because they've never experienced good governance.
But honestly thinking, America needs a completely restructure of their political system. It is just not working. Trump and Biden being elected out of 300 million people to run the country is evidence for that too.
I honestly think America needs a completely restructure of their political system. It is just not working. Trump and Biden being elected out of 300 million people to run the country is evidence for that too.
This is why the US should elect more progressive politicians, who know how to manage budgets and give us (yes, pur country's initials literally spell out that pronoun) much better tax credits in return for better public education and better public healthcare. but since these are nonexistent, my husband and I are being guided to finance our retirement and healthcare through a diversified investment portfolio
It is my goals is to employ the service of an asset-manager this year. I've seen some off social media but wasn't able to get a response. Could you recommend one?
"70 billion US could be spending on infrastructure, law enforcement, healthcare oreducation is lost" Yea like US wouldn't spend that money on a bigger aircraftcarrier.
Actually in terms of total government spending, The US military only takes up 16%. It’s actually the most efficient branch of government, building absurd amounts of infrastructure across the world and at home, building floating cities, when our government can’t even fill potholes at home. But that’s what we get for wanting our government to do something for us, instead of ourselves.
This. People don’t realize that high salaried individuals pay damn near 50% of their income to state, local, federal, social security, and Medicare taxes. I personally made 162,000 last year and my wife made 110,000. We will pay about 40% of our income to state local federal and ss/Medicare. We paid like 16k alone to ss/Medicare last year! So yeah next time you get your Medicare help think twice before you start complaining about income equality. This doesn’t even include property taxes !!
Wrong backwordsbox, the wealthy still pay taxes. The top 25% of earners in the U.S. pay 86% of taxes. You can decrease your tax rate using offshore methods, but you can never totally escape taxes. This video is an overgeneralization for the weak minded who won't research it.
“The 70 billion dollars that could be utilized for healthcare,education etc..” If thats the case then cut down that 700 billion dollar of unneccessary “defence” budget which is paid for by the taxpayers
Yeah thats right...my point is that dont say you would’ve spent those 70 billion on health and education and because of tax evasion you cant do that when you are spending 700 billion on military which can be easily trimmed down and the US can still dominate the world with say a 100 billion less in the defence budget
It's not an exaggeration to say that the US economy is dependent on the military. Look at how much money goes into arms deals, research, development, etc.
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Impressive insights! For beginners like me, managing and staying updated can be overwhelming. Are you an experienced investor or do you have a strategic approach for staying informed?
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Bro he doesn't know any better. Nowadays people throw the word greedy around just to do it. You have a lot of money, and god forbid you want to keep it and use it how you want, now you're greedy.
Sean nonyuh I would make the argument that it's the cost of living in a civilised society. A great deal of the time as well, it's just redistributing the wealth that most of us in that tax bracket are actually more born into than anything else. I come from a privileged background where I went to private school and law school, but when I was young my parents were barely making ends meet. The social welfare system saved my mother's life when she had cancer (I live in the U.K., we have NHS), and put food on our table on days where we couldn't afford to eat. Now I'm halfway through law school and, having experienced where those tax payer dollars go and who they help, I am more than happy to start paying my share. That Rich CEO did not NEED that beach house in the Bahamas. I DID need my mother. As do so many other people. It's about recognising the privilege you have in society and paying like everyone else does to be part of a modern and civilised world which (should strive to be) kind.
So the upper middle class is kinda fucked with taxes because they aren’t rich enough to evade taxes but they aren’t low enough to have lower rates and returns.
If I was making like 800k a year, and nearly 400k of that was being taxed to the government, I would do the same too, our government takes way too much, that’s not fair, you work this hard in life and nearly half you hard earned money goes to the government.
Its not slavery when youre still have 400k in hand. If somebody earned 800k a year, you benefited the most from the gov spending, without that gov spending u wont get that 800k. Stupid logic
@@verosoedira3536 Lol, tell me more about how much I benefit from the government when running an online business which they played no part in building? If someone walks up to you on the street, holds you at gunpoint, and asks you to hand over 50% of your money when they played no part in earning it, it's called robbery and theft.
if you are really in need of money for infrastructure, law enforcement, healthcare and so on why not cut down on the ludicrous obsolete military budget ?
I have a better idea. Eliminate ALL unnecessary things including medicare, medicaid, social security, welfare, food stamps, housing assistance, the EPA, NASA, common core, and all that garbage. I mean, think about that for a second. With the same taxes in place now, our debt could go to 0 dollars within as little as 10 - 20 years. Then, nobody making under $100,000 a year would pay taxes. The super rich would pay as little as 10 - 20% tax. Think of all those old cities and businesses that would flourish. Detroit and other bankrupt cities would thrive again
Actually, most innovation comes from the military, or related. What did social programs give you? Either free money or crushing taxes. they didnt innovate shit.
How about Universal Basic Income (UBI) ? Funding the space exploration, medicine , education system, improving infrastructure in rural areas, increasing awareness and dealing with homelessness and low income households. Maybe fund a research battling the questions of overpopulation and so on.
The only way Ubi could work is if public Health,School,Police,Road, were shut down and eveyone that "Will" work will have to pay 80% Taxes And thats only if Basic income is the same as miniwage + the us will still go 100billion over The tax budget if you want to live in a Commie shit hole with "jobs" North korea is a good place.
Average people don't pay that much in taxes anyway. The top 25% of earners in the U.S. pay 86% of taxes. You can decrease your tax rate using offshore methods, but you can never totally escape taxes. This video is an overgeneralization for the weak minded who won't research it.
Not a very helpful video - it just throws around some buzzwords and goes straight into what could be said generally about tax avoidance. Right, so people set up “shell companies” - you or I could do it too. The video still doesn’t answer how people use them to avoid tax.
And it doesn't need to because orange probably isn't your best color. High risks,high reward. Learn math,pass a couple of test. Get better than think about coming to the table to tag people who.know about the world behind it
aucifer1001 I know this is an old post... but businesses get taxed differently than individuals. So bottom line, businesses no matter how successful don’t get taxed at 50% rates like the rich.
I love how this video tries to make shell companies and tax evasion seem like something bad, while most of us would do the same. Specially those of us who live in extremely corrupt and inefficient countries, I would never pay them 50% in taxes so it goes all straight to their pockets.
Ah, so instead of trying to improve your own country by voting in people that will try to make it better, it's better to ruin your own country and let other countries profit from being an annoying piece of shit to the rest of the world?
@@DaDARKPass I already do that, at least once every four years. But no matter who ever you vote, we are always back to square one. Every politician is a piece of shit, and a lot of voters are brainwashed idiots. So you are suggesting people should give half of their wealth away, to a government which will definitely mismanage it and use it for things that won’t make a change? Yeah no thanks. This ain’t Europe. You can’t even send your kids to public school, unless you want them to have a shit education that’s it. You can’t rely on the public healthcare system, so except you’re poor you better get paying cause you’re getting nothing for free. You are basically just paying for immigrants to get free shit they can’t get in their own countries, and receiving nothing in exchange of course. You can’t ruin something that’s already ruined, don’t worry.
I am a trusts lawyer and all these shell companies are completely legal guys! You dont have to be uber wealthy to create shell companies. Yes, there is money laundered illegally, however for the most part its completely legit
We need to understand there's a difference between tax avoidance and tax evasion. Government allows its citizens to LEGALLY avoid taxes using means like getting credits for donations, offering us tax shelter investment options, and others (we have that in Canada, I think USA's tax system is fairly similar). Tax evasion is different. The government needs to properly REGULATE this process and say: okay, here's what you can do, and here's what you can't do. Using shell companies, running money through Ireland and Netherlands, and utilizing other methods is LEGAL. But if the government doesn't want to allow that anymore, they need to adjust the laws accordingly. Otherwise, this will keep happening.
You have to understand the government is paid by the super wealthy to specifically let this slide. Doing so would mean they lose money, job,and future. I personally don't care they can drown for what's good for them
LBVuitton your children will be billionaires in the future who will need to launder money. You will, having acquired such knowledge be able to enlighten them on such activities.
Because you are curious, be more curious and find out how to improve your financial situation. Get education and a better paying job or start a business.
Look up the name Benjamin ravies, that's the name of my fiduciary he trades the market for me with his expertise while I earn he charges commission on profits
Great stocks and I just bought in on them, but I'm interested in making short term profit, let say turn a $150K to $500k in 6months, I'd appreciate tips on how what stocks to buy to make this much profit.
20% is spent on the military I think that's fair you would be delusional to think a war is not possible in coming time may not be super likely but it's good for the USA to have a powerfull military
This guy gets it. Whether it’s FedEx revolutionizing and showing how USPS should do it, or SpaceX showing how NASA wants to do it but can’t (they have a lot of facilities that for political reasons aren’t shut down, and a lot of red tape around regulations that could be streamlined)
Doesnt the goverment think that near 50% is waaay to big to take anyone's money? I'd say near 25% is the borderline for anything if they want to tax em.
They rich see economic crisis as a garage sale also the rich stays rich by investing and diversifying their portfolio with stocks, cryptocurrency and forex trading which is the widest thing every individual need to do and it's really profiting
So because a few politician's have used off shore accounts now it's there fault😂 you need to work on your thinking. Also not many politicians have billions your just yapping
Taxation is theft, but if the Government insists on it then i think everyone should be taxed around 10% of their salary. This way everyone is only losing an insignificant amount of money compared to their income.
See, this is your proof, if you don't have money, and you commit a crime, you go to jail. However, if you're wealthy, you can basically break as many laws as you want without facing jail time. Conclusion: There is no such thing as law and order if you're super rich.
We all still live under universal laws of compensation. No one can cheat or hide from these laws. Society is not at all justly ordered from the get-go. Change society and let men keep their hard-earned money.
And then through some incredible "coincience" the pentagon "plane strike" just so happened to utterly wipe out the exact area of the pentagon where they were storing ALL the files regarding the investigation into that mission 2.3 trillion dollars, apparently there were "coincidentally" no copies and "coincidentally" one of the other sites where this investigation was being held was in WTC building 7 (the 3rd building to fall on 9/11 that nobody reports on or talks about) because it was so badly done that anyone watching the video instantly says "controlled demolition")
You grew up using there roads schools infrastructure etc and now when it's your turn to pay you cant😂 society would fall apart if everyone thought like you
Flat tax - 20% on your primary source of income. No deductions, no real estate depreciation deductions, no carried interest treatment as cap gains, nothing except a 20% flat tax. The first $40K belongs to you and your family, 20% above that.
It's interesting that we as a society talk about tax evasion being criminal but we don't talk about taxation without representation being criminal. The IRS has it's fingers in the cookie jars of all the countries in the world and basically has it's on court that decides hose guilty or not. It's literally the greatest ponzi scheme ever.
so when someone commits a crime against a rich person, even if they are protected by their own security, they also own their own court systems and prisons? think before you reply.
CPA here, If anyone is wondering, how can an average person avoid tax through shell companies - you can register a company in the US and British Virgin Islands. After expenses, send the rest of your money from the US to BVI and write it off as expenses in tax returns. You don't need this anymore, just buy BTC, USDT or USDC and write the purchase off as an expense. Third way could be to register a trust in the US and send up to 60 percent of your AGI to the trust and get a hundred percent write off. Also, spend the donated money through the trust to avoid any tax liability. Fourth is buy an apartment with 10 percent down and write the entire amount off through bonus depreciation in one year, repeat every year.
Maybe the welfare bums in the lazy parasites demanding free stuff should get their hands out of other people's pockets and we should eliminate the IRS altogether.
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It's not just the rich that register their businesses and acquire bank accounts in so-called tax havens! Videos like this (I've watched many) also imply that there's inherently something dodgy about doing so. There is nothing illegal in acquiring both in a nation other than the one in which you live in!
It has nothing to do with Not paying their fair share... it has everything to do with people in government wasting and or funnelling funds to enhance their lives... mostly wasteful spending though.... and people are sick of watching the government misspend their earned money. I cannot stand how our government puts more emphasis in giving money to other countries when its own citizen taxpayers experience poverty...our own veterans are not treated even closely in proportion to their sacrifice to our country. More efficient spending would reduce the taxation need and accomplish what is needed.
"Poor people want government to increase the tax rate so the rich can pay more, but they didnt know it's causes a backfire to themself". -Robert Kyosaki
When you’re a millionaire? You should pay 50%. Tough shit if you don’t want to, it’s not fair that an average person gets prison for tax fraud but the government knows about the tax havens and don’t care.
Martha B-C, is that so? Why must millionaires pay more than 50% taxes; whereas, others do not? Is it because they’re wealthier? Just because they were smart enough to access all that wealth? Even if some people had the money bequeathed to them, it still does not make sense for them to pay above 50% taxes unlike the rest. Do not think that just because millionaires have more money they should pay more in taxes than the rest. Just like you pay a certain fixed amount, so should they.
I would like to focus on how the collected revenue is mis-spent rather than the political misdirection of the rich vs poor debate. As long as we focus on each other we are not focusing on them
But at the same time the US government gives $20-50 billion a year in US citizen taxes to other countries. So let’s not act like the government would use that money for good. Both sides should see that.
Not to mention what goes to Ukraine now. Why? To facilitate the big US companies operating there. Making the taxpayer pay, not the corporations is a good deal.
You could probably do something productive with that money elsewhere. Ukraine is also the proverbial bottomless barrel. Neighbourhood counts for more tha ideologies. But have it your way;, it worked very well so far in the last 30 years, didn't it.
@@hauptmannbalalaika quit being so ingnorant imagine if your country all of a sudden got invaded by a much bigger country. Im glad the US supports them just shut up with your waste of money. you proabbly live a very easy life and anythign that does not directly go to you is a waste lol
I don't see them doing anything wrong. Normal citizens don't take the time to understand the tax systems. If what they do is really wrong then why not make it illegal? If you could save a percentage of money on taxes wouldn't you? In this case they just have a higher total amount of money so they'd save a high percent.
Maybe if the US had more competitive tax rates for wealthy people and corporations, people wouldn't feel the need to switch to "legal tax evasion" offshore
These tax heavens are under control of US allies like Britain. If Britain would not allow such tax heavens to exists the superwealthy would be forced to pay taxes.
@@srnrn141 you dont understand how colonies work do you. while on paper they are kind of under British control they are also autonomous and the British don't really have the legal ability todo much
Did you miss the fact that the US is one of the leading tax havens for non-resident aliens of the US? The US is amongst the biggest tax havens in the world along side the UK, the Netherlands, Malta, Cyprus, Luxembourg and Ireland. I mean half of the EU is a tax haven and the US is a major tax haven as well.
Title should have been; *"Campaign for the IRS to grow more bigger with more tax money 💵"* 😪 You can't have big government & big business...You either have small gov & big businesses or Big gov & small businesses. Choose❕
Taxes my boy. Thry are obligated by law to pay taxes on what they make. The mkre they make the more they have to pay taxes on. Anf if they dont do this, it would be called tax evasion and it is a felony in which you get fined and sent to jail
That's not quite accurate. Most people pay wages into a 401k and they money they put in is not counted as taxable. Then, in retirement, they draw on the 401k and what they withdraw is counted as ordinary income. They would pay less taxes if they could count it as long-term capital gains.
@@Holt775 To take the money out of the 401k, you sell the assets for lont-term cap. gains. The tax rate on the first $77k of long term cap. gains is 0%. See www.fool.com/taxes/2018/09/21/the-3-types-of-income-and-how-theyre-taxed.aspx section "Investment Income"
@@johnobrien6858 that's incorrect. The moment you take assets out of your 401k it counts as a distribution and is counted as ordinary income. Regardless, using tax differed accounts is still a way to legally avoid paying capital gains while the assets trade in the account. Taxes are evil. We should have a right to do this.
@@Holt775 You said: "...If you use a 401(k) or IRA of any kind you are 'avoiding' capital gains taxes." I then said: "...Then, in retirement, they draw on the 401k and what they withdraw is counted as ordinary income. They would pay less taxes if they could count it as long-term capital gains." As an example, suppose you put $100 into a 401 K retirement account. Years later, the $100 has appreciated to $400, and you withdraw all of it from the account. The way the law is, the whole $400 withdrawal is taxed as ordinary income. My point is that if the $300 in appreciation was taxed as long-term capital gains, the $300 would be taxed at a lower rate, and the first $77,000 in long-term capital gains income would be taxed at a rate of 0%. When you say "taxes are evil", I'm not sure what you mean. Do you mean we should not have a government, or do you mean we should have a government and fund it in a different way?
More than half or half is worst thing. It should be max 10 % for rich and 5% for middle class . Else then ppl start looking for these ideas. Those politicians are using our money for their idiotic tours and luxury life. India's PM Modi spent over 360 crore ₹ or 65 Million $ approx till date for useless tours around half of the World . Don't know if he touches more mark. This is all tax payers money. Need to get rid of this Evil Tax system.
there is something like this, in Costa Rica....for as little as 200.000 USD.....they would set up some type of shell company and pay you one percent per month...
In our country we used to have very very high taxes on rich and ultra rich people due to which most of then started moving money illegally out of country, due to which now the maximum tax that can be implemented is reduced to around 30-35%.
T. Thomas because they're indoctrinated all the way from the first day of kindergarten to the day they realize they just wasted 40k on a college degree.
"The Matrix is a system, Neo. That system is our enemy. But when you're inside, you look around, what do you see? Businessmen, teachers, lawyers, carpenters. The very minds of the people we are trying to save. But until we do, these people are still a part of that system and that makes them our enemy. You have to understand, most of these people are not ready to be unplugged. And many of them are so inured, so hopelessly dependent on the system, that they will fight to protect it."
There should be a law says if you donate a certain amount to education, medical and infrastructure, you pay no taxes. This way ordinary people will be benefited and no more tax evasion, a true win-win.
It’s no longer that easy to hide money with a shell company, there is now the CRS agreement, Common Reporting Standard agreement, which includes most if not all of the countries mentioned in this video.
This video doesn't even explain anything. And it never distinguishes between illegal and legal schemes, why offshore accounts are used, and why some things are legal and others illegal.
Here's a thought; stop stealing half of people's wealth, and maybe they'll actually start paying taxes. No government should take more than 10% of anyone's income. We learn to scrape by on tight budgets so the people who are supposed to serve us should do the same. The IRS and Congress is the sole reason tax evasion happens, and I don't blame evaders one bit. The ones hating on them are hating because they didn't have the foresight to do the same.
US citizens who try to hide their money via shell companies are taking a big risk. The IRS imposes stringent and detailed disclosure requirements on all US citizens who own foreign companies or foreign bank accounts. Merely neglecting to file a form can result in a penalty of $50K or more... even if no tax is owed.
There is another way through charities which is super shitty of them to do I don’t support nor condemn this act (the one in the video) due to if you work hard in life and be successful the government be like”hippity hoppity your money is now my property “ The charity way on the other hand is a way for the rich to put money into their own charity and not pay taxes while the look good while doing it
you really don't understand how the charitable deduction works do you? if you earn 1 million dollars and donate 100k to the charity you just don't pay taxes on that 100k but you still owe taxes on the 900k leftover now let's assume for simplicity sake you pay a 25% total tax rate if you don't donate you will pay 250K in taxes and be left with 750k but if you do donate you will pay 225k and be left with 675k see there is literally no incentive to donate all the deduction does is ensure you parent punished for donating but either way not donating leaves you with more money net so shut up. and you act like bc they put it in their own charity its still their money.. its not they still have to us it for charitable acts which the IRS has very strict requirements for
Many of you who are complaing abt US's defence budget are missing one point. THE US IS THE ONLY COUNTRY IN THE WORLD PERHAPS WHOSE MILITARY STRENGTH DETETMINES THEIR INTERNATIONAL ECONOMICS AND FOREIGN POLICY :)
Right the government not being able to afford infrastructure is because of $300 billion lost in tax avoidance. The country that has a GDP of $18 trillion and an annual military budget of around $1 trillion.
Most of the money foreigners use to invest in the US is from offshore accounts in tax havens where little or 0% tax is being paid. When the average US citizen is paying 40% or more in taxes and has no money to invest because of high taxation & FATCA!
But what is the government really doing with all this tax money? Politicians driving good cars and living lavishly, then they will say there is no sufficient money in the country because people are avoiding taxes..
The rich and wealthy worked hard to get where their at and you expect them to help those who do not want to put in any work and sit home all day? Lol im not talking about disabled people now, I’ve seen and known so many that take advantage of the system and illegally work under the table and collect a government cheque monthly for years and decades just taking advantage and never thanking the academic students that work 6 figure jobs and pay half in tax. Thats why some choose to be business men/women and/or entrepreneurs and investors. To skip helping these losers make that extra monthly cash which only helps them be more miserable and disgusting attitudes.
There was a time i once lived in America and Canada. Paid about the same in taxes but get way more for my taxes in Canada. Most Americans hate the government (hate giving them their money even more) because they've never experienced good governance.
But honestly thinking, America needs a completely restructure of their political system. It is just not working. Trump and Biden being elected out of 300 million people to run the country is evidence for that too.
I honestly think America needs a completely restructure of their political system. It is just not working. Trump and Biden being elected out of 300 million people to run the country is evidence for that too.
This is why the US should elect more progressive politicians, who know how to manage budgets and give us (yes, pur country's initials literally spell out that pronoun) much better tax credits in return for better public education and better public healthcare. but since these are nonexistent, my husband and I are being guided to finance our retirement and healthcare through a diversified investment portfolio
It is my goals is to employ the service of an asset-manager this year. I've seen some off social media but wasn't able to get a response. Could you recommend one?
Don't be hesitant to contact Sonya Lee Mitchell and follow her directions.
"70 billion US could be spending on infrastructure, law enforcement, healthcare oreducation is lost"
Yea like US wouldn't spend that money on a bigger aircraftcarrier.
Or $25000 Atari Joysticks for submarines.
💯💯💯💯💯💯💯💯💯💯
The # 1 function of Government is to "provide for the common defense". Infrastructure isn't even in the top 10.
Actually in terms of total government spending, The US military only takes up 16%. It’s actually the most efficient branch of government, building absurd amounts of infrastructure across the world and at home, building floating cities, when our government can’t even fill potholes at home.
But that’s what we get for wanting our government to do something for us, instead of ourselves.
Yeah learn some basic math your ignorant 20% is spent on the military
Not going to lie... but if I were rich and getting taxed more than half my income... I’d look into this as well.
Ain't that the truth. Getting taxed half or even close to half is bs. It's like you are a civil servant toiling your days for the government.
This. People don’t realize that high salaried individuals pay damn near 50% of their income to state, local, federal, social security, and Medicare taxes. I personally made 162,000 last year and my wife made 110,000. We will pay about 40% of our income to state local federal and ss/Medicare. We paid like 16k alone to ss/Medicare last year! So yeah next time you get your Medicare help think twice before you start complaining about income equality. This doesn’t even include property taxes !!
Damn son.
Its annoying ain't it. +100k saleries be paying 50% taxes but if you make millions a year then you pay 0%taxes
Wrong backwordsbox, the wealthy still pay taxes. The top 25% of earners in the U.S. pay 86% of taxes. You can decrease your tax rate using offshore methods, but you can never totally escape taxes. This video is an overgeneralization for the weak minded who won't research it.
“The 70 billion dollars that could be utilized for healthcare,education etc..” If thats the case then cut down that 700 billion dollar of unneccessary “defence” budget which is paid for by the taxpayers
Aryan Pendharkar exectly what i thought
You have to realize that the USA's wealth comes from it world domination. They need a strong military to dominate.
Yeah thats right...my point is that dont say you would’ve spent those 70 billion on health and education and because of tax evasion you cant do that when you are spending 700 billion on military which can be easily trimmed down and the US can still dominate the world with say a 100 billion less in the defence budget
Murika is superpower yo
It's not an exaggeration to say that the US economy is dependent on the military. Look at how much money goes into arms deals, research, development, etc.
Building wealth from nothing involves consistent saving, disciplined spending, and strategic investments. Begin by creating a budget to track expenses and identify areas for savings. Prioritize paying off high-interest debt and establishing an emergency fund. As you build a foundation, start investing in low-cost options like index funds, and focus on continuous learning and improving your skills for better income opportunities.
Impressive insights! For beginners like me, managing and staying updated can be overwhelming. Are you an experienced investor or do you have a strategic approach for staying informed?
Absolutely not, as I've closely tracked my portfolio's performance, witnessing a staggering $482k growth in just the last two quarters. This experience has taught me the secrets behind experienced traders' substantial gains in what might appear as unpredictable markets. Undoubtedly, it's been a bold and rewarding choice I made fairly recently.
@@james.atkins88 That's quite remarkable! I'm genuinely interested in benefiting from the guidance of such experienced advisors, especially considering the current state of my struggling portfolio. May I know the name of the advisor who has been assisting you in navigating these financial challenges?
"Camille Alicia Garcia" serves as my advisor, bringing extensive qualifications and experience in the financial market. Her deep understanding of portfolio diversity positions her as an industry expert. I suggest delving into her credentials for further insight. With her considerable experience, she offers valuable guidance to anyone seeking to navigate the complexities of the financial market.
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.
well since they're taxed at 50% and the fact you act as tho their money is yours to spend it's no wonder they hide it.
Bro he doesn't know any better. Nowadays people throw the word greedy around just to do it. You have a lot of money, and god forbid you want to keep it and use it how you want, now you're greedy.
probably lives at home with mom
They only pay 10% capital gains. Normal income tax is for the 99%
Sean nonyuh I would make the argument that it's the cost of living in a civilised society. A great deal of the time as well, it's just redistributing the wealth that most of us in that tax bracket are actually more born into than anything else. I come from a privileged background where I went to private school and law school, but when I was young my parents were barely making ends meet. The social welfare system saved my mother's life when she had cancer (I live in the U.K., we have NHS), and put food on our table on days where we couldn't afford to eat. Now I'm halfway through law school and, having experienced where those tax payer dollars go and who they help, I am more than happy to start paying my share. That Rich CEO did not NEED that beach house in the Bahamas. I DID need my mother. As do so many other people. It's about recognising the privilege you have in society and paying like everyone else does to be part of a modern and civilised world which (should strive to be) kind.
@@phoenixblitz24 This. This is the EXACT reason why. They dont need that 3rd Beach house but families WILL fall apart without those funds
So the upper middle class is kinda fucked with taxes because they aren’t rich enough to evade taxes but they aren’t low enough to have lower rates and returns.
Anyone can move money off shores. Its not that expensive/hard. Us peasants are just too dumb to understand the tax law and use the loopholes
@@YourUncle8501 Isn't that we are dumb,is that the rich have money to pay someone to do this the best way possible.
@@lordanonimmo7699 Facts right here
@@lordanonimmo7699 yeah they have good sources and can get anyone they want if they have enough $ but I want to learn how to use this stuff as well
@@lordanonimmo7699 Keep telling yourself that, thats why you are not rich and youre never going to be
If I was making like 800k a year, and nearly 400k of that was being taxed to the government, I would do the same too, our government takes way too much, that’s not fair, you work this hard in life and nearly half you hard earned money goes to the government.
Plus its not like government is exactly trustworthy.
I feel above 33% is abusive, & 50% or more is slavery.
In America, we have a graduated income tax, so that’s not how it turns out.
Its not slavery when youre still have 400k in hand. If somebody earned 800k a year, you benefited the most from the gov spending, without that gov spending u wont get that 800k. Stupid logic
@@verosoedira3536 Lol, tell me more about how much I benefit from the government when running an online business which they played no part in building? If someone walks up to you on the street, holds you at gunpoint, and asks you to hand over 50% of your money when they played no part in earning it, it's called robbery and theft.
if you are really in need of money for infrastructure, law enforcement, healthcare and so on why not cut down on the ludicrous obsolete military budget ?
jobs
US economy depends on the military.
I have a better idea. Eliminate ALL unnecessary things including medicare, medicaid, social security, welfare, food stamps, housing assistance, the EPA, NASA, common core, and all that garbage. I mean, think about that for a second. With the same taxes in place now, our debt could go to 0 dollars within as little as 10 - 20 years. Then, nobody making under $100,000 a year would pay taxes. The super rich would pay as little as 10 - 20% tax. Think of all those old cities and businesses that would flourish. Detroit and other bankrupt cities would thrive again
I am surprised how reasonable this comment section is
Actually, most innovation comes from the military, or related. What did social programs give you? Either free money or crushing taxes. they didnt innovate shit.
That's why tax increase doesn't work as intended. The rich have trillions of ways to avoid taxation while the average people have none.
Nanxing Luo why do u want rich people to pay billions of taxes anyway? What is the government gonna do with the money? Obamacare?
How about Universal Basic Income (UBI) ? Funding the space exploration, medicine , education system, improving infrastructure in rural areas, increasing awareness and dealing with homelessness and low income households. Maybe fund a research battling the questions of overpopulation and so on.
why dont you google the annual budget yourself and see where the 4 trillion is spent on by the mighty USA government
The only way Ubi could work is if public Health,School,Police,Road, were shut down and eveyone that "Will" work will have to pay 80% Taxes And thats only if Basic income is the same as miniwage + the us will still go 100billion over The tax budget if you want to live in a Commie shit hole with "jobs" North korea is a good place.
Average people don't pay that much in taxes anyway. The top 25% of earners in the U.S. pay 86% of taxes. You can decrease your tax rate using offshore methods, but you can never totally escape taxes. This video is an overgeneralization for the weak minded who won't research it.
Not a very helpful video - it just throws around some buzzwords and goes straight into what could be said generally about tax avoidance.
Right, so people set up “shell companies” - you or I could do it too. The video still doesn’t answer how people use them to avoid tax.
aucifer1001 that’s what I was thinking
@Prowler Cam 📝
And it doesn't need to because orange probably isn't your best color. High risks,high reward. Learn math,pass a couple of test. Get better than think about coming to the table to tag people who.know about the world behind it
aucifer1001 I know this is an old post... but businesses get taxed differently than individuals. So bottom line, businesses no matter how successful don’t get taxed at 50% rates like the rich.
I love how this video tries to make shell companies and tax evasion seem like something bad, while most of us would do the same. Specially those of us who live in extremely corrupt and inefficient countries, I would never pay them 50% in taxes so it goes all straight to their pockets.
Tax evasion is only good if a poor individual does it. If someone rich or a corporation does it, it ain't good.
It doesn't matter because the money still trickles up from the poor and middle classes. Enjoy your hyperinflation and remember... Let's go Brendan..
Ah, so instead of trying to improve your own country by voting in people that will try to make it better, it's better to ruin your own country and let other countries profit from being an annoying piece of shit to the rest of the world?
And you are part of the problem.
@@DaDARKPass I already do that, at least once every four years. But no matter who ever you vote, we are always back to square one. Every politician is a piece of shit, and a lot of voters are brainwashed idiots.
So you are suggesting people should give half of their wealth away, to a government which will definitely mismanage it and use it for things that won’t make a change? Yeah no thanks. This ain’t Europe. You can’t even send your kids to public school, unless you want them to have a shit education that’s it. You can’t rely on the public healthcare system, so except you’re poor you better get paying cause you’re getting nothing for free. You are basically just paying for immigrants to get free shit they can’t get in their own countries, and receiving nothing in exchange of course.
You can’t ruin something that’s already ruined, don’t worry.
I am a trusts lawyer and all these shell companies are completely legal guys! You dont have to be uber wealthy to create shell companies. Yes, there is money laundered illegally, however for the most part its completely legit
what’s the legitimate reason to have one if you aren’t hiding dirty money
@@illberightback5015 legal protection, confidentiality, control over conglomerates, etc...
@@RamsesBeltran-sp9pw gotcha
Hey I'm studying law masters, can we connect I wanted to get some experience?
Don’t hate the player, hate the game.
That's it 👌
😂😂😂 well said
Yes.. the game mainly created by billionaires/millionaires that make us play fairly and let them not give a shit.
Sue the developer
Shut up u jew
We need to understand there's a difference between tax avoidance and tax evasion. Government allows its citizens to LEGALLY avoid taxes using means like getting credits for donations, offering us tax shelter investment options, and others (we have that in Canada, I think USA's tax system is fairly similar). Tax evasion is different. The government needs to properly REGULATE this process and say: okay, here's what you can do, and here's what you can't do. Using shell companies, running money through Ireland and Netherlands, and utilizing other methods is LEGAL. But if the government doesn't want to allow that anymore, they need to adjust the laws accordingly. Otherwise, this will keep happening.
Or even if a tax is warranted over segregation of beneficiaries
You have to understand the government is paid by the super wealthy to specifically let this slide. Doing so would mean they lose money, job,and future. I personally don't care they can drown for what's good for them
I work at Walmart why am I watching this?
LBVuitton your children will be billionaires in the future who will need to launder money. You will, having acquired such knowledge be able to enlighten them on such activities.
Lol🤣.... joke apart... ambani of India worked as a casual labour before he founded reliance..
Because you are curious, be more curious and find out how to improve your financial situation. Get education and a better paying job or start a business.
The poor mindset of yours is sad
Companies that collect & sell shells from the beach... no? Kidding
Solution: government print more money
I use a fiduciary for that, investing and spreading it across financial commodities while still earning in the best way for me
how so? who is your fiduciary if you don't mind helping me out
smart, fiduciaries can also help you evade taxes with their expertise
Look up the name Benjamin ravies, that's the name of my fiduciary he trades the market for me with his expertise while I earn he charges commission on profits
@@randy4773 thanks I found his website and mailed him, I appreciate your help
Great stocks and I just bought in on them, but I'm interested in making short term profit, let say turn a $150K to $500k in 6months, I'd appreciate tips on how what stocks to buy to make this much profit.
@maria sandra That sounds great and how do i connect with her ?
@maria sandra Okay i just found her website and left a message for her. thanks.
Scammers here. Beware
Bitcoin is the future, investing in it now will be the wisest thing to do especially with the current rise in bitcoin
I made $13,800 within 6days of trading
@@abonyievelin8739 You're lucky
I Lost $1500 trading with an unprofessional trader
Investing in crypto currency is so lucrative
@Simon Andersen You are absolutely right but we also have lots of expert, real ones with certificate and firm IDS out there waiting for investors
Government: We don't have money for infrastructure !
Also Government: $700 billion military spending
Not to mention the giveaways money they give to other countries.
Wrong priorities everywhere.
20% is spent on the military I think that's fair you would be delusional to think a war is not possible in coming time may not be super likely but it's good for the USA to have a powerfull military
@@111Econwhat's wrong with that makes it harder for Russia to take over Ukraine for example which is good
Sounds like a great idea to me! It isn’t like our government deserves extra tax money as if they actually budgeted well and we’re good stewards!
This guy gets it. Whether it’s FedEx revolutionizing and showing how USPS should do it, or SpaceX showing how NASA wants to do it but can’t (they have a lot of facilities that for political reasons aren’t shut down, and a lot of red tape around regulations that could be streamlined)
Doesnt the goverment think that near 50% is waaay to big to take anyone's money? I'd say near 25% is the borderline for anything if they want to tax em.
That’s not how marginal tax rates work.
@@april3534 if you make over 10m a year and anything over 500k is taxed 50% it may as well be 50% tax on the whole damn thing
We only pay 5% in my country
@@davidhuang777 If you make over 10m a year, you can probably handle a 50% tax rate on anything above 500k.
Nah what's the problem with taxing billionaires 50%?
The US has no money for infrastucture and healtcare. But the have enough money for the defence
Fernando Brinkers remember that there wouldn’t be an infrastructure or wven health if there is no defense. Free invasion
L K war makes the world go round. Get over it.
Lol defending crumbling infrastructure and an overweight population dying from preventable diseases due to not being able to afford healthcare
Cyrsclin if only foreign policy and public funding was that simple. What a world that would be.
Why is everybody acting like the moment the usa reduces its military budget russia invades yall are brainwashed
They rich see economic crisis as a garage sale also the rich stays rich by investing and diversifying their portfolio with stocks, cryptocurrency and forex trading which is the widest thing every individual need to do and it's really profiting
yeah you're right one need to diversify to have different streams of income.
diversifying is the best key to wealthy life
Do you know we've got to see people remain poor and not being millionaire due to igonrance of investing that saddens me.
not because of igonrance, it's just because of the high rate of unproductive brokers in the market
you've got to see unprofessional broker but we still got lucrative and profitable professional brokers out there looking for investors.
Politicians: we don't have the money to afford this!
Also Politicians:*stores billions that could be used to afford it in an off-shore accounts*
So because a few politician's have used off shore accounts now it's there fault😂 you need to work on your thinking. Also not many politicians have billions your just yapping
Taxation is theft, but if the Government insists on it then i think everyone should be taxed around 10% of their salary. This way everyone is only losing an insignificant amount of money compared to their income.
See, this is your proof, if you don't have money, and you commit a crime, you go to jail.
However, if you're wealthy, you can basically break as many laws as you want without facing jail time.
Conclusion: There is no such thing as law and order if you're super rich.
We all still live under universal laws of compensation. No one can cheat or hide from these laws. Society is not at all justly ordered from the get-go. Change society and let men keep their hard-earned money.
Unpopular opinion: Trying to keep the money that was rightfully yours in the first place shouldn’t be a crime
How cares about 70 billion less in taxes, when the pentagon couldn't account for 7 trillion a week before 9/11 😂😂
muh deefence budjit
Exactly
2.3 trillion as I recall
7 trillion a week!!!!...Uh! yeah that number's legit!??
And then through some incredible "coincience" the pentagon "plane strike" just so happened to utterly wipe out the exact area of the pentagon where they were storing ALL the files regarding the investigation into that mission 2.3 trillion dollars, apparently there were "coincidentally" no copies and "coincidentally" one of the other sites where this investigation was being held was in WTC building 7 (the 3rd building to fall on 9/11 that nobody reports on or talks about) because it was so badly done that anyone watching the video instantly says "controlled demolition")
I have zero sympathy for the government so cry me a river, I’d do the same damn thing!
Yeah.
Who wouldn’t lmao
Steal (TAX) from the people = Not A Crime
NOT let them take your earned money = Crime
You grew up using there roads schools infrastructure etc and now when it's your turn to pay you cant😂 society would fall apart if everyone thought like you
Flat tax - 20% on your primary source of income. No deductions, no real estate depreciation deductions, no carried interest treatment as cap gains, nothing except a 20% flat tax. The first $40K belongs to you and your family, 20% above that.
It's interesting that we as a society talk about tax evasion being criminal but we don't talk about taxation without representation being criminal. The IRS has it's fingers in the cookie jars of all the countries in the world and basically has it's on court that decides hose guilty or not. It's literally the greatest ponzi scheme ever.
What’s wrong with keeping your hard earned money from the government, what are they giving you in return
school, law enforcement, and roads for starters.
yea the rich dont go to public school and they normally have there own security
so when someone commits a crime against a rich person, even if they are protected by their own security, they also own their own court systems and prisons? think before you reply.
Patthon Sirilim I'm sure they also build their own roads and airports too
“Hard earned money”
CPA here, If anyone is wondering, how can an average person avoid tax through shell companies - you can register a company in the US and British Virgin Islands. After expenses, send the rest of your money from the US to BVI and write it off as expenses in tax returns.
You don't need this anymore, just buy BTC, USDT or USDC and write the purchase off as an expense.
Third way could be to register a trust in the US and send up to 60 percent of your AGI to the trust and get a hundred percent write off. Also, spend the donated money through the trust to avoid any tax liability.
Fourth is buy an apartment with 10 percent down and write the entire amount off through bonus depreciation in one year, repeat every year.
Albert Einstein noted, “ Mankind invented the atomic bomb, but no mouse would ever construct a mousetrap.”
*for itself
This is for business owners /corporations only.
For the rest of us employees, unfortunately there's no way to do this.
There is ask a question 😉
maybe the IRS should spend more time going after whales and not stomping on minnows
As the video stated, Congress has cut funding to the IRS so they can't afford to go after off shore accounts.
They’re corrupt
Mlogan11. Good!
Maybe the welfare bums in the lazy parasites demanding free stuff should get their hands out of other people's pockets and we should eliminate the IRS altogether.
@Joel Schembri the IRS is unconstitutional anyways. American Tax Collection is UNCONSTITUTIONAL because the 16th amendment was never officially passed
Governments claim they do not have enough money for XY. But officials are using private jets, using expensive cars with chauffeur etc...
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It's not just the rich that register their businesses and acquire bank accounts in so-called tax havens! Videos like this (I've watched many) also imply that there's inherently something dodgy about doing so. There is nothing illegal in acquiring both in a nation other than the one in which you live in!
It has nothing to do with Not paying their fair share... it has everything to do with people in government wasting and or funnelling funds to enhance their lives... mostly wasteful spending though.... and people are sick of watching the government misspend their earned money. I cannot stand how our government puts more emphasis in giving money to other countries when its own citizen taxpayers experience poverty...our own veterans are not treated even closely in proportion to their sacrifice to our country.
More efficient spending would reduce the taxation need and accomplish what is needed.
"Poor people want government to increase the tax rate so the rich can pay more, but they didnt know it's causes a backfire to themself". -Robert Kyosaki
Haikal Permana Rich Dad poor dad one of the most iconic books ever - Robert T. Kiyosaki*
I wouldn’t want to pay more than 50% taxes either.
Exactly
When you’re a millionaire? You should pay 50%. Tough shit if you don’t want to, it’s not fair that an average person gets prison for tax fraud but the government knows about the tax havens and don’t care.
Martha B-C, is that so? Why must millionaires pay more than 50% taxes; whereas, others do not? Is it because they’re wealthier? Just because they were smart enough to access all that wealth? Even if some people had the money bequeathed to them, it still does not make sense for them to pay above 50% taxes unlike the rest. Do not think that just because millionaires have more money they should pay more in taxes than the rest. Just like you pay a certain fixed amount, so should they.
I would like to focus on how the collected revenue is mis-spent rather than the political misdirection of the rich vs poor debate.
As long as we focus on each other we are not focusing on them
Isn't that the point? Divide and conquer!!! Old Roman trick!!!
But at the same time the US government gives $20-50 billion a year in US citizen taxes to other countries. So let’s not act like the government would use that money for good. Both sides should see that.
Not to mention what goes to Ukraine now. Why? To facilitate the big US companies operating there. Making the taxpayer pay, not the corporations is a good deal.
@@hauptmannbalalaikahow is it bad that money goes to Ukraine? Makes it harder for Russia to take over which is good
20-50 billion is nothing in terms of the tax budget learn some critical thinking
You could probably do something productive with that money elsewhere. Ukraine is also the proverbial bottomless barrel. Neighbourhood counts for more tha ideologies. But have it your way;, it worked very well so far in the last 30 years, didn't it.
@@hauptmannbalalaika quit being so ingnorant imagine if your country all of a sudden got invaded by a much bigger country. Im glad the US supports them just shut up with your waste of money. you proabbly live a very easy life and anythign that does not directly go to you is a waste lol
I don't see them doing anything wrong. Normal citizens don't take the time to understand the tax systems. If what they do is really wrong then why not make it illegal? If you could save a percentage of money on taxes wouldn't you? In this case they just have a higher total amount of money so they'd save a high percent.
Maybe if the US had more competitive tax rates for wealthy people and corporations, people wouldn't feel the need to switch to "legal tax evasion" offshore
They still will. Imagine earning 10m a year and your taxed 20%. That means 2 million/2.5months of your money or time goes to tax.
These tax heavens are under control of US allies like Britain. If Britain would not allow such tax heavens to exists the superwealthy would be forced to pay taxes.
@@srnrn141 you dont understand how colonies work do you. while on paper they are kind of under British control they are also autonomous and the British don't really have the legal ability todo much
Did you miss the fact that the US is one of the leading tax havens for non-resident aliens of the US? The US is amongst the biggest tax havens in the world along side the UK, the Netherlands, Malta, Cyprus, Luxembourg and Ireland. I mean half of the EU is a tax haven and the US is a major tax haven as well.
@@vitsadelhole I mean the UK changed Turks & Caicos law on a dime not too long ago, perhaps it is you who doesn't understand how colonies work.
Maybe if ur tax rate isn't 50 freaking percent there is no need for the billionaires to do this
Andrew not true lmao learn what tax brackets are
Title should have been;
*"Campaign for the IRS to grow more bigger with more tax money 💵"* 😪
You can't have big government & big business...You either have small gov & big businesses or Big gov & small businesses. Choose❕
What! People are going to all this trouble just to keep what's theirs? Shame on them.
Why shouldn’t they? Don’t they have a right to keep what they legitimately own?
Taxes my boy. Thry are obligated by law to pay taxes on what they make. The mkre they make the more they have to pay taxes on. Anf if they dont do this, it would be called tax evasion and it is a felony in which you get fined and sent to jail
Tax 'evasion' and 'avoidance' are not the same. If you use a 401(k) or IRA of any kind you are 'avoiding' capital gains taxes.
That's not quite accurate. Most people pay wages into a 401k and they money they put in is not counted as taxable. Then, in retirement, they draw on the 401k and what they withdraw is counted as ordinary income. They would pay less taxes if they could count it as long-term capital gains.
@@johnobrien6858 you're still avoiding the capital gains taxes on those funds while they are in the tax differed account.
@@Holt775 To take the money out of the 401k, you sell the assets for lont-term cap. gains. The tax rate on the first $77k of long term cap. gains is 0%. See
www.fool.com/taxes/2018/09/21/the-3-types-of-income-and-how-theyre-taxed.aspx
section "Investment Income"
@@johnobrien6858 that's incorrect. The moment you take assets out of your 401k it counts as a distribution and is counted as ordinary income. Regardless, using tax differed accounts is still a way to legally avoid paying capital gains while the assets trade in the account. Taxes are evil. We should have a right to do this.
@@Holt775
You said: "...If you use a 401(k) or IRA of any kind you are 'avoiding' capital gains taxes."
I then said: "...Then, in retirement, they draw on the 401k and what they withdraw is counted as ordinary income. They would pay less taxes if they could count it as long-term capital gains."
As an example, suppose you put $100 into a 401 K retirement account. Years later, the $100 has appreciated to $400, and you withdraw all of it from the account. The way the law is, the whole $400 withdrawal is taxed as ordinary income. My point is that if the $300 in appreciation was taxed as long-term capital gains, the $300 would be taxed at a lower rate, and the first $77,000 in long-term capital gains income would be taxed at a rate of 0%.
When you say "taxes are evil", I'm not sure what you mean. Do you mean we should not have a government, or do you mean we should have a government and fund it in a different way?
More than half or half is worst thing. It should be max 10 % for rich and 5% for middle class . Else then ppl start looking for these ideas. Those politicians are using our money for their idiotic tours and luxury life. India's PM Modi spent over 360 crore ₹ or 65 Million $ approx till date for useless tours around half of the World . Don't know if he touches more mark. This is all tax payers money. Need to get rid of this Evil Tax system.
Tax avoidance is your responsibility. Tax evasion is a crime. And “your fair share” keeps going up while value goes down.
Americans don't mind they think all rich folks are their friends.
No they foolishly think they will be among the ultra wealthy and hope to join the club of cheating.
there is something like this, in Costa Rica....for as little as 200.000 USD.....they would set up some type of shell company and pay you one percent per month...
All rich people throw the money out of u.s. I've known a few millionaires and they do it
In our country we used to have very very high taxes on rich and ultra rich people due to which most of then started moving money illegally out of country, due to which now the maximum tax that can be implemented is reduced to around 30-35%.
Or US can stop complaining and reduce the budget for the military
Or every country can start paying they're fair share in NATO (Do you hear me Germany?), so we wouldn't have to carry everyone else's weight too much.
@@A-rk3dn no country thinks US is better than an average country.....
Or you can actually stfu and try to be in the military to see why it actually needs the money.
@@A-rk3dn lmao "better,"
If u live in a country thay makes u pay tax on 99% of the things u have then yeah y not find a way to skip the shit... id do the same🤓
Zio Daklas what country is this?
Why does everyone think governments know best ?
T. Thomas because they're indoctrinated all the way from the first day of kindergarten to the day they realize they just wasted 40k on a college degree.
"The Matrix is a system, Neo. That system is our enemy. But when you're inside, you look around, what do you see? Businessmen, teachers, lawyers, carpenters. The very minds of the people we are trying to save. But until we do, these people are still a part of that system and that makes them our enemy. You have to understand, most of these people are not ready to be unplugged. And many of them are so inured, so hopelessly dependent on the system, that they will fight to protect it."
@@otacon1024 wrong system
@@otacon1024 where is this from
The U.S doesn't have a flat tax. earning 2 million isn't like owing the gov a million. more like 714k b4 state tax before credits.
Some people never have enough. As long as our world runs on a system of money and have not this will never end.
There should be a law says if you donate a certain amount to education, medical and infrastructure, you pay no taxes.
This way ordinary people will be benefited and no more tax evasion, a true win-win.
You need to learn mathematical thinking what you said is no where near true
Even football stars, what a Mess!
I see what you did there 😂
I mean most people would do the same when the government try to take more and more money from you when you rich, even me.
4:43 paying their _fair share_ .yeah,almost 50%of your money going to government is fair👍
flat rate 15-20 percent period
It’s no longer that easy to hide money with a shell company, there is now the CRS agreement, Common Reporting Standard agreement, which includes most if not all of the countries mentioned in this video.
This video doesn't even explain anything. And it never distinguishes between illegal and legal schemes, why offshore accounts are used, and why some things are legal and others illegal.
Here's a thought; stop stealing half of people's wealth, and maybe they'll actually start paying taxes. No government should take more than 10% of anyone's income. We learn to scrape by on tight budgets so the people who are supposed to serve us should do the same. The IRS and Congress is the sole reason tax evasion happens, and I don't blame evaders one bit. The ones hating on them are hating because they didn't have the foresight to do the same.
Why are we paying politicians all this money anyway?
Because if we don't, we got thrown in jail.
US citizens who try to hide their money via shell companies are taking a big risk. The IRS imposes stringent and detailed disclosure requirements on all US citizens who own foreign companies or foreign bank accounts. Merely neglecting to file a form can result in a penalty of $50K or more... even if no tax is owed.
There is another way through charities which is super shitty of them to do
I don’t support nor condemn this act (the one in the video) due to if you work hard in life and be successful the government be like”hippity hoppity your money is now my property “
The charity way on the other hand is a way for the rich to put money into their own charity and not pay taxes while the look good while doing it
you really don't understand how the charitable deduction works do you? if you earn 1 million dollars and donate 100k to the charity you just don't pay taxes on that 100k but you still owe taxes on the 900k leftover now let's assume for simplicity sake you pay a 25% total tax rate if you don't donate you will pay 250K in taxes and be left with 750k but if you do donate you will pay 225k and be left with 675k see there is literally no incentive to donate all the deduction does is ensure you parent punished for donating but either way not donating leaves you with more money net so shut up. and you act like bc they put it in their own charity its still their money.. its not they still have to us it for charitable acts which the IRS has very strict requirements for
people like you who really dont understand what they are talking about really annoy me
4:45
Add one more...
NAWAZ SHARIF (Pakistan PM) was also resigned over Panama corruption
Bitconnect...yeaaaaaahhhhhhh😊🤗
Lmao
It doesn't work.
@@mr_imperfectiongamingchann1962 I dont think you understand.
We are coming in waves wazowazowazooooo bitconeeeeect
rakkrisr123 what is that about please?
2:00 hold up... is that why a bunch of random empty expensive apartments/offices showed up in my city!?
This is the gray area at its finest
Many of you who are complaing abt US's defence budget are missing one point. THE US IS THE ONLY COUNTRY IN THE WORLD PERHAPS WHOSE MILITARY STRENGTH DETETMINES THEIR INTERNATIONAL ECONOMICS AND FOREIGN POLICY :)
why would you put messi's picture and talk about how his tax money could benefit the US
Right the government not being able to afford infrastructure is because of $300 billion lost in tax avoidance. The country that has a GDP of $18 trillion and an annual military budget of around $1 trillion.
After the 2008 financial crisis Iceland jailed their banksters,
the US bailed theirs out and gave them bonuses! D:{
Most of the money foreigners use to invest in the US is from offshore accounts in tax havens where little or 0% tax is being paid. When the average US citizen is paying 40% or more in taxes and has no money to invest because of high taxation & FATCA!
Can’t blame the rich just look at their tax bracket
Well,if taxes are so heavy,you don't expect people to be willing to pay it. I mean who wants to give their hard earned money away
Down voted, this video explained literally nothing about how tax evasion and shell companies work.
But what is the government really doing with all this tax money? Politicians driving good cars and living lavishly, then they will say there is no sufficient money in the country because people are avoiding taxes..
Thanks, will do this :D
The State loves taking your money. Nope, most people would rather keep it.
Theres a great movie about mossack fonseca. Laundromat, its on netix.
*Richard Branson moved to the British Virgin islands*
"Ye it's a nice place to live, I like it alot. Nothing else..."
0:34 You forget military.
No one should be paying too much tax
The rich WORK for their money
And the poor are just stupid or didn’t take the opportunities
lmao okay buddy back to eating glue
YES! I'd do the same if i was getting taxed half my income.
No action taken in many countries
you would get so many more hits/likes if you added " Panama Papers " to the title....
The rich and wealthy worked hard to get where their at and you expect them to help those who do not want to put in any work and sit home all day? Lol im not talking about disabled people now, I’ve seen and known so many that take advantage of the system and illegally work under the table and collect a government cheque monthly for years and decades just taking advantage and never thanking the academic students that work 6 figure jobs and pay half in tax. Thats why some choose to be business men/women and/or entrepreneurs and investors. To skip helping these losers make that extra monthly cash which only helps them be more miserable and disgusting attitudes.
I don't blame the wealthy.
Wonderful! Less wasted money by government!!