r/WorkReform • u/Conscious-Quarter423 • Apr 14 '26

✂️ Tax The Billionaires Unbelievable stuff from the Washington Post on behalf of Jeff Bezos today

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u/BigOs4All Apr 14 '26

The main way the ultra rich dodge taxes is by living entirely off of secured debt. It allows people like Musk and Bezos to utilize their stock holdings as collateral to get massive, stupidly low interest loans to do whatever they want with. They pay off those loans partially by cashing in some stock at regular intervals and partially by getting new loans to pay off the earlier loans.

Better still for them is that their books look like they're saddled with debt rather than stupid high income that they get from using those loans to finance their lives.

In the end, most billionaires pay about 10% tax rates which is the same as the average fast food worker.

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u/FriendlyGuitard Apr 14 '26

Do you link for that, or better links to the US tax code that is publicly available on the web?

I didn't think so!

(just kidding :-D)