Can you believe that? You can be a multi-millionaire, and get subsidized health care and your kids can go to college for free! That's why people like Paris Hilton can live off the millions from her grandfather who died before she was born. It's all about growing that generational wealth so that people who never worked a day in their life can live off money of long-dead ancestors.Wealth Is More Important Than Income
Because the government is always going after income, wealth is much more important for financial freedom. For example, you could be worth $10,000,000 and not have to pay payroll taxes or income taxes since you can live off your investments.
You could also partake in subsidized healthcare under the Affordable Care Act. Further, your kids could get 100% of their college tuition paid for by universities given they determine grants by income and not by wealth.
The more you work, the more you have to pay in taxes. Instead, work smarter by focusing on building more investment income or equity in a business, especially as corporate taxes are getting cut. You can build wealth up to $11.4 million as an individual or $22.8 million as a married couple before the estate tax kicks in.
From now on, really think about how all your income sources are taxed. Do you really want to work all day for the privilege of paying federal income tax, state income tax, city income tax, Social Security tax, Medicare tax, and so forth? Just like inflation, tax increases will never end.
And the right will pretend that they are hard-working, self-made Americans that shouldn't be taxed.
And this is how people like Joe make their living- telling rich people how not to pay taxes.
And the right will try to keep these realities secret from all of us. They'll pretend the rich are sooooo put-upon and overtaxed, when they aren't.