Do the Rich Really Pay Their Fair Share in Taxes?

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It is often said that “the rich don’t pay any taxes.” Well, oftentimes, this is true. Many rich people use advanced tax strategies to dramatically reduce their tax burden. With advanced tax strategy, it is possible to reduce overall tax burden by 50-100%. However, a lot of people are completely unaware of these strategies.

In this video, tax expert Karlton Dennis explains multiple strategies that the wealthy use to dramatically lower their tax burden. Some of these strategies include taking advantage of long-term capital gains rates, borrowing against assets such as stocks, and more. Warren Buffett is said to pay a lower tax rate than his secretary by employing some of these strategies.

Learning how the rich avoid paying taxes legally is something that can potentially benefit anyone who wants to pay low tax rates like Warren Buffett, Elon Musk, Jeff Bezos, and other billionaires. The best part is, you don’t need to be ultra-wealthy to start deploying some of these strategies.

CHAPTERS:
0:00 Intro
0:26 Capital Gains Income vs Ordinary Income
2:27 Borrowing Against Assets
5:22 Using "Step-Up in Basis"
7:07 Real Estate Investing
10:13 Subscriber Question!
12:23 Outro

*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

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