How the Wealthiest Americans Avoid Paying Taxes

Patrick Bet-David Podcast Episode 67. In this short clip Patrick Bet-David, Adam Sosnick, and, Tom Zenner talk about how the top 25 richest americans are avoiding paying income taxes.

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The Bet-David Podcast discusses current events, trending topics, and politics as they relate to life and business. Stay tuned for new episodes and guest appearances.

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About the host:
Patrick Bet-David is the founder and CEO of a financial services firm and the creator of Valuetainment, the #1 YouTube channel for entrepreneurship with more than 3 million subscribers. He is the author of the #1 Wall Street Journal bestseller Your Next Five Moves (Simon & Schuster) and a keynote speaker.

Bet-David is passionate about shaping the next generation of leaders by teaching the fundamentals of entrepreneurship and personal development while inspiring people to break free from limiting beliefs to achieve their dreams.

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[petermangano]

When you have a tremendous amount of assets, you no longer need to realise income. You can take out loans against your assets tax free and the repayments are tax deductible. But if you just went to school and got a job you will never understand no matter how many times it's explained to you...

[Samialjundi]

By Pat logic, I should not pay more than 1% taxes otherwise I’m not incentivized to become a billionaire

[ismailhassan]

Shout out to us peasants still paying taxes.

[milestonefx]

My man Patrick get emotional when it comes to capitalism. He is passionate, damn! ❤️

[appleforever]

The Wealthiest have an army of personal accountants to find loopholes in the tax code. It’s one big club and you ain’t in it!

[zan_ribic]

Love the fact that PBD just bought a house for 20 million $! A huge role model for me in every aspect in life!

[ravishoul]

Adam has best perspective today. He was right and not emotional

[GtiMuchFast]

Moral of the story: Get your shit together, you're on your own anyway

[micostark]

So if you make 1 billion dollars and let’s say 100 million dollars goes to taxes, by Patrick’s logic that would un incentive you to work as hard because you’ll only make 900 million? No ones trashing billionaires just crazy that they would be 0 in taxes for even a year.

[smb]

Elon has 100% had days off how did he get his hair transplant?

[theoverunderthinker]

what I learned from this is that their tax rates are so high that rich people can afford to pay an army of accountants and paying them is still less than the additional taxes they would have to pay without them.
the higher you make their taxes, the more accountants it makes sense to hire!

[aliedperez]

Once you learn what the government does with your money, avoiding taxes becomes a moral duty.

[jarrettjb]

Man I’m telling you PBD dude I so appreciate your insights and sharing. VALUEtainment is right, you add a lot of value bro.

[allenwarfield]

Next do a video on how the wealthiest Americans create jobs and accessible opportunities for the lower class

[markmyjak]

Most Americans ask these 3 questions regarding their tax returns. Where do I sign, how much do I get and when. I was part of crowd. Then hearing about how the wealthy don't pay taxes got me intrigued. So, understanding why, I was able to make changes that reduced my taxes. I've been doing it for a long time now, I go in prepared to do my taxes and understand them.

All the various IRS tax forms are available for all to pull off and review.

[joseph]

Try 30 years without vacation. I have been working for myself for 30 years since i was 18 years old. I'm now 48 and I don't get no tax breaks. I ain't rich, but I don't work for anyone and i make my own money.

[evanarg]

I'm not for socialism and admire and respect a successful entrepreneur but hard to defend MULTI billionaires paying ZERO TAX....let's get serious! It's called asset inflation, that's what happens when 40% of all the money ever created in America was printed past year ! Everyone should educate themselves on how the FED works ..

[factchitanda]

If I started a business to solve a problem bugging society, borrowed money and slaved in a garage or whatever and the business took off, I am sleeping happy with all that wealth. I deserve it. And if I can get qualified Tax Consultants to assist me to pay minimum taxes, then I sure as hell am doing it! Why pay more when you can get away with paying less? 2 things, the same tax loopholes the rich use can be exploited by a lot of us peasants anyways. 2) Governments include those same loopholes to incentivise folks to start these businesses and create employment and be useful. Period!

[kore]

Wealth and income are two different things. People who say they want to pay more taxes, write a check to the IRS, they'll cash it.

[kenyonr]

So he's ok with billionaires not paying taxes? I'm confused.