- Joined
- 20 Oct 06
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Here's what you have to do. First, be rich. Second, take advantage of all these tax loopholes that allow you to pay far fewer taxes than your non-rich neighbors who will never get rich because they pay too much in taxes. And it's all legal. These are the kinds of ways in which random used car dealers in Florida are becoming billionaires.
Paycheck protection plan: If you're rich and own a business, you got free money from Uncle Sam. $200 billion. Use it to buy a new yacht or whatever.
Cheat on your taxes: The working poor, particularly those claiming the Earned Income Tax Credit, are statistically much more likely to be audited by the IRS than multimillionaires due to shifts in enforcement resources.
The Alternative Minimum Tax (AMT) Distortion: A system originally built to prevent the top 2% of earners from skipping out on taxes morphed over time into a stealth tax on middle-class families instead.
Executive Perks and Deferrals: Personal income or business profit? Or neither? Use offshore accounts, low interest loans, and deferred compensation to avoid billions in taxes, while enjoying massive tax incentives on luxury perks like corporate jets.
The Social Security Cap: An average middle-class worker and a tycoon making $100 million pay the exact same flat amount into Social Security.
https://www.theatlantic.com/ideas/2026/09/everywhere-millionaires-tax-code/688584/