r/technology – Elon Musk Paid No Federal Income Taxes in 2018, ProPublica Reports: The top 25 richest Americans gained $401 billion from 2014 to 2018, but only paid $13.6 billion—3.4 percent of that—in federal income taxes.


True unrealized capital gains aren’t taxed but don’t act like that increase in worth isn’t exactly the problem.

99% of people have to rely on income through salary for the majority of their spending value (i.e. cash to pay bills, mortgage, food, etc.) which means we pay taxes on that income and contribute our fair share to society.

The 1% are increasing their spending value through this untouchable unrealized capital gains. They are able to take out loans using their assets (stocks, real estate, etc.) as collateral for insanely favorable rates and leave their money in the stock market. So they pay 1% interest on a loan and get cash for whatever they want to buy all while their net worth continues to climb at 10-20%.

Basically, the rich get richer and don’t have to contribute shit to society other than their yearly PR stunt charity donation.


True unrealized capital gains aren’t taxed but don’t act like that increase in worth isn’t exactly the problem.

99% of people have to rely on income through salary for the majority of their spending value (i.e. cash to pay bills, mortgage, food, etc.) which means we pay taxes on that income and contribute our fair share to society.

The 1% are increasing their spending value through this untouchable unrealized capital gains. They are able to take out loans using their assets (stocks, real estate, etc.) as collateral for insanely favorable rates and leave their money in the stock market. So they pay 1% interest on a loan and get cash for whatever they want to buy all while their net worth continues to climb at 10-20%.

Basically, the rich get richer and don’t have to contribute shit to society other than their yearly PR stunt charity donation.

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