The REAL Reason The Rich (Legally) NEVER Pay Tax

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A 2028 presidential frontrunner explains why a billionaire can pay a lower effective tax rate than a teacher or a firefighter, and why politicians on both sides have done almost nothing about it. The conversation starts with Steven sharing something he discovered at 27 years old. When his company went public, someone told him he could take a loan against his stock. If the stock was worth $50 million, a bank would transfer him $25 million in cash at near-zero interest with no tax liability. He could live off the loan, start new companies, and never trigger a taxable event. He asked: is this what all the rich people do? The answer was yes. He was told Elon Musk does the same thing with his Tesla stock, receiving a billion dollars in cash transfers without ever having a tax transaction. Pete Buttigieg responds: this is the cat-and-mouse game of tax policy. Whenever a new rule closes one loophole, wealthy people find another. But he argues that the fear of that cycle has caused politicians to "hesitate to do anything" and "refuse to do anything because it might be hard or because it might not last." He says that logic would be an argument against having any law at all. Discover: • How billionaires take tax-free loans against their stock and never pay tax • Why Elon Musk can receive a billion dollars in cash without a tax transaction • The analysis showing tax cuts alone account for the entire increase in national debt • Why 9 out of 10 House seats are predetermined in a 50/50 country • The reason 60 to 70% of Americans agree on major issues but nothing gets done • Why politicians are incentivized to pass the baton rather than fix the system • What a 2028 frontrunner says about Kamala Harris, Gavin Newsom, and AOC • Why he says "what we had before is what created the demand for Trump" 📺 Watch the full episode here - https://youtu.be/mF6uk7UOHBM ❤️ Subscribe to our main channel - www.youtube.com/TheDiaryOfACEO Get your hands on exclusive Diary of a CEO products: https://thediary.com/collections/all?utm_source=youtube&utm_medium=organic&utm_campaign=experiment&utm_term=clipschannel #thediaryofaceo #doac