How Billionaires and Millionaires Avoid Paying Taxes

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This is our first year in quite awhile that we haven't had a large tax bill but believe it or not H & R Block got us back on track with our taxes, last year, and this year we only owed $61 which we happily wrote that check!

The über rich (and when I say uber rich not your auntie that lives on a golf course is not rich) like Elon Musk, Jeff Bezos, Bill Gates, etc. the banks give them money in exchange for their stock holdings.  This is why they've created these trusts to pass down generational wealth without paying any taxes.

This is also the reason why the state of New York went after the Trumps because they got the bank loans fraudulently by misrepresenting their assets.

When we go to the bank to get a loan, the banks are not going to give us money for our stocks as collateral because we don't have millions of dollars worth of shares.  Keep in mind that our politicians voted for this foolery.