Billionaires - Truenewj

How billionaires avoid paying income taxes

amefika3 months ago05 mins

While many Americans struggle to do income taxes, for billionaires it’s barely on the calendar. This is because, for the richest, income plays a smaller role in wealth. To reduce their tax liabilities, billionaires reduce their real income to a minimum, while living off the fortune they have amassed through appreciating assets: stocks, real estate,…

Mark Cuban warns that cracking down on billionaires would destroy the market and wipe out savings: ‘Should we get rid of the stock market?’

amefika7 months ago03 mins

Cuban brand He says eliminating billionaires would cause the stock market to crash, potentially wiping out the average American’s savings. In a post on BlueSky last week, Cuban argued against the idea that wealth inequality could be mitigated by taxing or capping the wealth of billionaires. Cuban, who has built a $6 billion fortune through…