Here’s Exactly How to Evade Taxes Like a Billionaire

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This is Buffet’s fault

Considering how much money death-profiting Warren Buffett has extracted from society, he hasn’t come anywhere close to contributing his fair share to the world.

Over a five year period, Buffett grew his wealth by $24.3 billion but paid just 0.10% tax on it:

ProPublica

Even by “standard” tax accounting ($23.7M / $125M income), he’s paying just 18.9% income tax… far less than the average working family. And he’s evading tax on 95% of his wealth.

Sure, Buffett admits that the tax system needs fixing. But pushing words out of your mouth-hole isn’t nearly enough to create actual equality in society — not when billionaires and their corporations control the very Congress that’s supposed to tax and regulate them.

ProPublica:

“Buffett has famously held onto his stock in the company he founded, Berkshire Hathaway. That has allowed Buffett to largely avoid transforming his wealth into income. Berkshire does not pay a dividend, [which has enabled him to avoid] hundreds of millions in taxes each year.

Many Silicon Valley and infotech companies have emulated Buffett’s model, eschewing stock dividends… companies like Microsoft and Oracle offered shareholders rocketing growth and profits but did not pay dividends. Google, Facebook, Amazon, and Tesla do not pay dividends.”

The end result?

More than half of all American billionaire wealth is now permanently held hostage as unrealized gains — totally untaxable by the public… yet billionaires can borrow cheaply against their wealth to fund their absurdly lavish lifestyles and weaponize their wealth to amass ever more power and control of the global economy.

If we keep on our current trajectory, they’ll own the whole world within our lifetime.

Now it’s Elon Musk’s turn to scam the masses

Elon clearly knows the billionaire tax evasion scheme:

Credit: Twitter

He currently has at least 88 million shares pledged as collateral on personal debts.

Elon also knows $TSLA has become an outrageously and dangerously overpriced story stock.

As the great Concoda puts it:

“I see all-time highs, I take profits.”

Elon knows the end (of the corporatist business cycle) is nigh, and this is a great chance to pay off his personal debts with overpriced stocks.

Elon also knows that we know about the billionaire tax evasion scam:

Credit: Twitter

See what he did there?

Elon’s about to reap $30+ billion in hard cash thanks to his sucker-speculators, and come out looking like the “good guy” for actually paying his taxes — you know, the thing that everyone is supposed to do to keep civilization afloat. What a nice guy.

Elon’s tax bill on all this free money will be a maximum $4 billion — significantly less than you and I pay by percentage. But I’m sure his accountants are working on another tax evasion strategy.

So now billionaires get to play it both ways.