At first, I missed Georg talking about horror movies but I realize now that his recent videos actually have more horrific subject matter than The Thing.
@@Davethehedgehog that's what they do. Check out the simps for Jeff in the other comments. It's either sad, or hopefully these fools are just trolling.
@@anonconspicuous6910 I think the former. Super edgy probably says the people complaining are just doing it because they're too stupid to be billionaires, unlike their superior arse, who chooses not be to be rich because they don't care about money. Then says they were just trollin' bro and there's nothing anybody can do to change it anyway because it's just the way things are.
@@Davethehedgehog LOL!!! You are correct. When I was a kid, I was always told "people my age don't want to work", and I vowed to never be like that. But employing Zoomers in my business has a 0% rate of hard workers. Maybe growing up with smart phones and social media makes zoomers lazy and lacking in work ethic? They would rather check their social media than do their jobs. But I've seen many boomers equally as lazy, as they refuse to learn anything new. What if Boomer taxes went only to support Zoomers and vise versa, and millennials taxes just went to supporting other millennials. We are the hardest working generation since the industrial revolution, and we have to work hard and we pay our taxes to support everyone else. It sucks being a middle class millennial, as we have to support everyone else. My $1,300 a month health insurance bill supliments all the bums on Medicaid. But since I'm middle class, I am screwed paying for everyone else. I wouldn't mind, if I could use the disability taxes I've been paying into since I was 14. But I'm not a sponge on the system, so I am forced to pay more taxes than the super rich and the bums who don't want to work. Even though I work 60+ hour work weeks with a maimed leg from an accident. What boomer or zoomer could lose half their leg and work over 60 hours a week? None that I know. They can't even show up for 20 hours a week.
@@DP12321 Well isn't all taxation done by force towards the unwilling? Just because you dress it up with the finery of court cases and lawyers duking it out, at the end of the day, the deal is still "pay taxes or we lock you up in prison". I would say that taxation would be more moral and ethical if the individual had the opportunity to opt out of tax funded services. For example if I told the government: "I don't want to use your schools, your tax funded health services, public roads, public parks, call the police if my life or property is in danger" and so on, and I could then sign away my tax paying responsibilities by also signing away my entitlements to tax funded services. One could no longer make the case that I'd be getting taxed by force. But no government on earth offer you this way out of taxes. These wealthy people could arguably afford their own services. They don't need publicly funded hospitals because they can afford to pay for private healthcare. They don't need police protection because they can purchase the services of private security firms. They don't need public schools because they can send their kids away to private schools and so on. In short, society wouldn't have to pay for ANY of their needs this way. So therefore it would no longer be reasonable or fair to force them to pay taxes. But since no government allows them out of it, and basically just view wealthy and successful people as cash cows to milk at the government's choosing, I can't say that I can blame the wealthy for exploiting legal loopholes to keep their money to themselves.
Human greed is really gobsmacking. I once stole 20 Euros from my dad, and I felt so ashamed that I could not sleep for a week, I ended up giving it back to him and confess what I had done, He just laughed but I was devastated to have done that. How are people able to sleep at night when to them, too much is not enough? I have no idea.
@@aygwm it's not risky if it's entirely legal? Like m8 if your lifestyle is that of always-being-at-work like crack head, then yeah i guess you should expense everything. you live at work.
this is why America has the following technical distinction: - if it's illegal, it's tax evasion - if it's legal, it's tax avoidance so named because of the "avoi dance" they do on us paupers' graves
Other countries use those two terms the same way, Georg is apparently just ignorant to the important difference and has conflated the terms in the video title.
@@casbyness tax avoidance is just tax evasion for people who are rich enough for a good lawyer. That is why the "difference" between those two terms are completely irrelevant
03:55 *Streisand is one of the worlds leading proponents of OPEN BORDERS yet fought with the council for years to stop members of the public from walking on the beach below her gated beachfront mansion*
I'm sorry, do you think these wealthy people don't have a detailed portfolio of their assets, values and depreciation? We're now blaming contemptible wealth celebrity for the bureaucracy of government. This is the laser focus of the audience as I scroll down.
Kevin Spacey is a great actor, though, Bezos is just not one of his best roles, I blame bad direction and the man gets what he can now these days given the "situation" he's been facing.
@@johnm91326 yeah, I was going to say--the creatures that ruined my grocery store on Aramingo Avenue and the ones who block my path to the job I go to so that they can get their precious online-ordered crap they bought from Jeff Bezos (who they claim to hate) in a timely manner also aren't my friends, so I'm not sure this is a "wealth dependent" characteristic
It is impossible to get that rich without engaging in some pretty shady behaviour. Not only are billionaires not your friends you wouldn't want them to be. Most of them are sociopaths or close to it.
Today (3 Oct '21) everyone is going mental over news coverage of the Pandora Papers, I've been only mildly surprised because this video explained the super-rich's tax shell games so well nearly three full months ago. You always inform, entertain, and make me think. Keep up the great work. PS my best to Jumbo, I haven't heard from him in a bit.
What's the point? Even if he donates his money to these countries the government will steal and misuse it. Look at China filling the pockets of various African leaders so they have access to their vast natural resources, yet these countries still stay dirt poor. The only way anything will ever change in these places is if the people overthrow their government and install a legitimate form of democracy.
@@muccmaster Stop blaming the victims. The thousands of children who starve to death every single day are not at fault. It's not their responsibilty to overthrow their government and establish democracy. They need help
"Number One: In 1945, corporations paid 50% of federal taxes; now they pay about 5%. Number Two: In 1900, 90% of Americans were self employed; now it's about 2%... It's called consolidation; strengthen governments and corporations, weaken individuals. With taxes, this can be done imperceptibly over time." -Leo Gold, Deus Ex
@@ryanellis7842 this game came out 20 years ago and takes place in 2052. Also, while the numbers aren’t exact, it is still a mostly realistic approach to it.
finally someone covered this on youtube, and one of the best video essay channels no less. I genuinely haven't seen people talk about this much over the years. But it's also widely reported in more academic/economics circles
Been waiting with bated breathe (and sheer terror) to see the next upload. While I very much enjoy your criticism of films, it's your takes on culture and cult of personality that I live for. Cheers!
So the only reason they have money is because of inheritance and infrastructure, but instead of paying into what they used, they hoard as much as possible to watch a ticker go up, on money they will never spend.
Wealth is limited; the more scarce it is, the more valuable and socially powerful it is. Those who hold a disproportionate amount of wealth over the masses are more socially powerful than the masses. They also largely dictate political affairs as well, particularly in regards to economics (which politics is essentially about, but I digress), despite not being elected in any elections. Think about it.
@@arisukak "invest it" it's given to them as stock, that's investment in the most meaningless use of the term, it's equivalent of putting money in a savings account and claiming I'm an investor saving the economy. Not just that the stockmarket is internal, the last year has shown that, while the economy tanked, stock markets were doing records.
@@arisukak They invest in stocks and furthering their own wealth. Not the communities. Generosity is an afterthought, with wealthy individual's philanthropy being used as primarily for tax deductions and PR purposes. Maybe some scrubbing away of the guilt too I.E Andrew Carnegie starting the Gospel of Wealth movement after a lifetime of encouraging Child Labor and reducing worker wages.
Opera house in Cleveland? My experience in Cleveland was riddled with mugging and violence on the streets in broad daylight. But the opera house would close, and they could claim debt
The common arguement of "why should you tax success?" is such horse shit. We're only asking that: A) they pay what's due and others have to. B) maybe individuals having more wealth than a lot of countries is a bad thing?
They do pay what's due, that's why they don't go to jail for it. And it's not a bad thing. BIll Gates is pretty much bankrolling the whole anti-malaria effort. Imagine what the government would spunk that money on instead.
I don't care that they have wealth, I care that they use it to subvert and destroy the civilization in which I grew up and am currently seeing collapse in the name of some evil globalist experiment.
A) They pay more absolute tax than anyone else. eg Bezos paid around 1b in tax last year. Isn't that enough? How greedy are you? B) You would trust a government more than someone who has created a successful business with that wealth?
It’s because rich person shills think they have a chance of making it big, when really they have more in common with a homeless drug addict than a billionaire.
Love all your videos n podcasts Georg, keep them coming please, I've clicked the like button on every single on of your videos...Most even before I've even watched the video itself because I know it's gona deserve that 'like'
Kudos for including Poroshenko! I'm from Ukraine and it's baffling how it's still not talked about enough. People keep reminiscing about the good old days under the rich bastard who still monopolizes the confectionery market here
Loving this analysis series. And the podcast, film pieces, the whole back catalog. Any day is a good day to slap on those Boisterous Hosen and take command
That plays into all kinds of other justice...there's justice for most people and then the slap on the wrist for the people that can pay lawyers to muddy the waters and dilute the charges. "Oh, a $100,000 fine for the negligence of my company that resulted in 3 deaths and 24 permanent injuries?" vs. "Triple life sentence for stabbing a cop in the butt cheek while they were wrongfully detaining you and were literally beating you up in the process."
often with reason, being that above a threshold-- said person is actually stimulating the economy enough to catch the vip badge. Or should be. Mostly it's fealty to the industrial war machine and once you pay enough dues then we can say you're caught up and not worth the shake as much as keeping others in line, what don't even have aspirations of paying back colossal loans of millions, if they can even afford a home anymore.
Tax avoidance is only economical after a certain threshold. You need lawyers and accountants to make it work. If you make bellow a certain threshold, the cost off tax avoidance becomes higher than paying the tax itself.
Damn, I remember first watching him for his movie rants and reviews so many yaers ago, now I'm all for anything Georg will create, hope He makes a video on the Pandora Papers
I worked for the IRS for twelve years, out of the thousands of tax returns that included rental income, I never saw a SINGLE one that made money, not one penny. They always say that they operate at a loss. Some operated their rental units for fifteen or ten years without making any money at all, but they won't get audited, only the lower end of the middle class get audited. What? You thought America was any different than many countries?
David Bahnsen was just on podcast talking about the complexities of the tax code. Now I'm going to have to listen to that podcast again and watch this again. It seems like you've been taking on spicier commentary lately, but I find it's always very measured and never unkind. This is a woefully unappreciated channel.
There are no taxes in space. Claim the moon as your business headquarters and primary residence. No tax payments necessary. This guy is is playing 4D chess with tax evasion.
This is a great video as always but, like most discussions about this subject matter, I think something really basic has been missed. *"How much money does Bezos really need?"* For people like Bezos, Musk, Arnault etc. the almost pathological desire to retain their assets and finance any expenditures through debt really comes from the desire to retain control over their respective companies. *"If Bezos payed 50% of his entire wealth in tax he would still have $100 billion."* Yes, but his stake in Amazon would fall to around 5%, which has the potential to erode his tangible control of Amazon. The same is true for Musk, Arnault and any other wealthy individual who's net worth is derived largely from a single source. The money is incidental. The power is everything.
That’s his personal wealth, not his majority stake in Amazon. Additionally, he could change Amazon to provide better salaries for low wage employees with the control he has, why doesn’t he?
@@dropit7694 He probably should. My point was only that the wealthy hang onto assets because of the control it gives them, incidental to the money itself.
i really appreciate your sarcasm throughout the videos when you are mocking these people. very pleasant to watch. thanks for the thoughtful video essays. this is top notched
I know everyone in their mother's loves to reference 1984, but I love that it is a three class system where the psychological horrors are reserved for the middle-class, the "Outer Party." They pay the most and they are the linch pin of the whole thing but and completely controlled psychologically. Change will not come from them. The Proles suffer materially, but they are free of Big Brother, but have to put up with random goon squads. The Inner Party can pretty much do what they want, but they are trapped in a monstrous system of their own creation. As Orwell says in the novel, "If there is to be any hope for the world, it lays with the Proles." Funny that right-wingers like to claim a Socialist writer as their own.
The problem is people keep thinking of writers and other influences as "ours" or "theirs", as ammunition or even dead soldiers, in a culture war. People like Orwell are quite heterodox, I am not surprised much of his writing strikes a chord with non-leftists (and honestly a lot of leftists need to lie to themselves too to pretend they are anything in line with Mr. Eric Blair), but I think most people stick with his anticommunism and non-marxism and little else. Honestly, right-wingers becoming more heterodox and absorbing in earnest some Orwell would be quite healthy to politics, but they barely go beyond reading/repeating his jabs at "commies"
It really makes you sick doesn’t it: To think of how hard a lot of us work, while getting our mostly humble salary’s squeezed for all they’re worth by the taxman………Then these bastards on the other hand get to have their cake and eat it as the rest of us fight over the crumbs.
@@Whiteboykun having to pay for your own basic education, roads, firefighters, street lights would not be very based unless you were a medieval peasant
Introduction of land value tax's would help. Its more difficult to evade because it comes down to whoever owns the land pays the tax. If a billionaire tries giving the land to a shell company then the shell company needs to pay the tax.
This is a story I love. Man builds himself an audience on bullshit podcasts and movie reviews. Once he has it tho, he starts this campaign he's on. Much respect from all us plebs to you Georg, when we come for the aristo's heads, I'll make sure we get you last.
What I can't stand is when people try to make things fairer by taxing bonuses, for instance. At my < $40k job when I get the corporate memo about how well the company did this year. It's always fun to add up the number of hours that will be in my profit-sharing check. "Hmm, that's about ... $500," I think to myself. Then I look at the deposit of $320 and wonder what I'm doing wrong as part of the 1%. I mean, it seems like they have more disposable income and don't have to live in shitty cracker-box apartments. Or how the government put a cap on salaries, so companies started adding health insurance to attract employees. Now healthcare has been woven into some kind of nightmare tapestry of employers and insurance companies--all because someone thought they could make things MoRe FaAaAiIrR.
this dude is advocating for paying taxes on stuff you already bought and paid taxes on, thrice over. He wants a 4th tax. For owning shit that you already have. That's the math being encouraged here by Georgy. You can't just pay $455M or 30% on your $1.52B yearly earnings; _you must pay for that $15B you already earned and paid for! It's not like sales, property, gas and other taxes exist on top of income taxes._
@@JayLeePoe exactly. I'm just trying to bring up the law of unintended consequences. It seems that every. Single. Time. Someone comes up with a new scheme to get more money from the ultra-rich, they can't fathom that anyone might change their behavior, or how this will actually affect regular people too. Then you end up with some restaurant owner who wants to give his employees an extra $100 after a good quarter, or whatever, and they only take home $65 because "only wealthy CEOs make bonuses." Aside from the disproportionate power large sums of money can have in politics, I don't care that Jeff has more money than he can spend in 5 lifetimes. This sort of imbalance tends to take care of itself after three generations. Either it's invested wisely and contributes to the economy, or it's squandered. Either way, the government will take it's bites over the next 100+ years. And whether the regular people are building a super-mega-yacht complete with runway for business jets for Jeff's grandson, or employed at a startup he helped finance, the money gets spread around.
@@jimstanley_49 They simply want to make it harder and harder to accumulate wealth. for anyone. The trends are towards you not owning the things you own. Right To Repair goes across all industries, farmers to apple tech. It's from all sides; the gold standard has long been used to keep "lesser" regions in perpetual usury. You don't own the electronic products you buy online, you're subscribed to a service that allows you to access content you've paid for, very much like a product that you, once, simply owned outright. It's the biggest backlash to Internet piracy that gets hardly a sniffle. How much wood pulp can we put in this until it's no longer considered a true food product? Home ownership? I'm sorry pal but you need to afford the new tax for owning a house. Property tax? No, the other one that essentially doubles the cost of home ownership... for the generation with the least likelihood to ever own their own home. Yup. Sounds good. Soon we can just lease property from the government just like they do with The CCP. No property rights!
Funny how all he can think of to do with his wealth is "go to space" when he could, I don't know, invest in something to get rid of the plastic shit in oceans.
I guess the simple solution would be to tax any loan that is secured by a non-taxable asset. If you have $100M in stock and need $50M in liquidity, then sell half the stock and take the tax hit. Or if you really want to keep all of your stock, then sure -- take a $50M loan but tax that as income. Of course that will never happen short of an all out peasant revolt complete with torches and pitchforks, but it is fun to chat about :)
@@newerstillimproved Depends upon the jurisdiction. My experience has been that most (or at least many) places assess an annual property tax on residential housing, scaled upon that year's market value. But sure -- if you are some kind of housing guru who owns 10 houses worth $1M each, and you need $2M in liquidity, and those houses are not taxed, then you bet -- either sell 2 of them for the cash and take the tax hit, or keep them all and take a $2M loan that is taxable as income.
@@ravenlord4 The annual property tax is one thing, but there is usually also a capital gains tax on the house, if you sell it for more than you bought it. But that latter tax is only due once you sell it, also if it's the only house you own. Actual rates depend on the income, how long you had the house, etc....
@@newerstillimproved Ah -- for people who only have a single house, then yes -- tax a loan against a house that is fully owned, or against equity on a mortgage, and adjust it against the current ongoing property tax. It is disposable income at that point after all, and you have the additional benefit of most mortgage payments being tax deductible on top of that already. Think of the loan as selling the house (or a percentage of the equity) to a creditor, but he sells it back to you later instead of keeping it or selling it to someone else.
If you have to sell your labor power to afford food and housing, you have to accept unfair deals. You have to be willing to get ripped of, i.e. for the things you end up buying to be worth less than the labor power you started out with. If you invest money in raw materials and labor power to sell the resulting products for a profit, you're setting out to make unfair deals. You're trying to end up with something quantitatively more valuable than you started out with (a profit). Whereas your workers are just trying to end up with something qualitatively different from what they started out with and have to be willing to get ripped off to get it in order to survive.
transformation of goods is an inherent increase in value I.E.: a plate of spaghetti composed of 100g of wheat and 10g of tomato is inherently more valuable than the raw ingredients. While investment deserves a profit, it's unfair to say that "low labor" is not productive and only transformative: transformation of wealth is increase in wealth. Whereas investing in a plot of land and a bunch of bricks takes you nowhere without the labor to turn them into a building. Those in investing positions set out to "make unfair deals" only because the imbalanced positions of power created by their wealth. Those in "low labor" positions have to accept being "ripped off" only because they start off in a position of relatively low power. Modern capitalism is to economy what the feudal dark ages were to politic power: the powerful use their power to reinforce their power over those without.
If you have a house, and there is a boom in the housing market so your house is worth 2x what it was worth last year, would you like to pay taxes on that worth increase if you haven’t sold your house?
@@Alex-cw3rz “fair share” is not objective but personal opinion. I am trying to say that the increase of value of stocks you hold is not profit, same as the increase of value of your house. You shouldn’t pay tax on either. Pay tax on the profit you make when you sell.
@@realGBx64 no it's very objective in fact, they need to pay enough for what they've used and investment for the future simple as that. okay yeah it's different to normal way a business runs, by the fact you did nothing to cause the growth. But that's like saying nothing should be taxed because inflation will cause a raise that was nothing to do with increased profit.
@@Alex-cw3rz yeah well, the government prints money that destroys the value of the currency, and then taxes you on that difference doesn’t seem fair to me in any way shape or form. Your definition of “fair” is still just super subjective. Because in my book, they put in the investment for the future up front, they increased the value of the asset by making it more efficient and productive, so actually they made things better in totality.
How do the super-rich avoid taxes? Easy. Hundreds of people are drawn to them like moths to a flame, begging to be put in charge of various aspects of the super-rich person's life, promising that they can enrich the super-rich person even more in exchange for taking a relatively small cut of the wealth. Bezos isn't some kind of lone supervillain. As soon as his fortune became significant, an army of accountants and investors arrived on his doorstep explaining that they could keep the tax man at bay in exchange for payment for their knowledge and services. Why do you think PewdiePie moved to the UK? Why do so many Hollywood movies get filmed in the UK, in exchange for so many Hollywood leads being English? I would much rather have the world's economy being shaped by the driven, ultra-competitive corrupt egomaniacs of the private sector than the lazy, complacent, braindead and infinitely wasteful forces of government administration.
im pretty sure all of them are lazy and complacent. i went to a rich school as a poor person and i watched all these rich kids build fortunes by having support of people who share your philosophy and i guess not care about everyone who need help? they think its a dog eat dog world and then you listen to baseless claims that somehow the government that put all the engineers to work in the 40s and 50s and made this country what it is are the problem but people like ronald reagan who lie to voters tell them hes religious and close all the mental hospitals (where do you think all those old homeless people came from?) are heroes. even though the math clearly showed he fucked up this country. that everyone here wanted al gore as president. that people had to be divided and filled with fake patriotism to be convinced the war on terror wasnt to secure oil in the middle east and help out the right wing's friends in saudi arabia you know the place that harbors bin laden and had to be killed by the democratic president because bush wanted bin laden. just like the gop wanted the paris attacks so they can claim immigration is an issue. all the people there were organized citizens. youre being played like a fiddle.
@@eatmanyzoos You claim to disagree with me, but then cite a long list of government and public sector failures as your evidence, reconfirming my point. You realise Reagan was public sector, right? It is a dog eat dog world. One aspect of this is the smaller dogs trying to trick the bigger dogs into becoming smaller, because the smaller dogs want a better chance at eating those bigger dogs.
@@casbyness its the same philosophy that the super rich have. theyd feel the same way they were poor. in fact they see us all as one big dog and are bitter and resentful even though they have everything they need. there is no reason the billionares need all that money. its just so easy to them and thats all their good at. all these billionaires have no real friends and are miserable. they have to take acid every day to believe they are operating on a higher level. ive taken plenty of acid and it just showed me how we are all the same and they are no more qualified to run companies than i am. someone who would have the same salary as their employees because id make companies for the positive impact. id be able to if monopoly laws were useless because of citizens united, you know the libertarian wet dream .
@@eatmanyzoos Because the government does care about helping people, right? Pay your taxes, plebes, and now that we paid money that some random politicians are going to waste, let's avoid all personal responsibility to help the people in need, pretending we actually already did something useful.
Yes yes, I would perfer ego maniacs with no regard for human life who bank on the firther exploitation and sickness of the people they leech off of and treat like dirt than people with a strong moral compass, strong beliefs in the self sufficiency of a country and people as well as hold great care for their education and health. Between those two the first sounds the most appealing! Seriously... you're brain is rotten
They all look like strange creatures with googly eyes who have looked at themselves in the mirror for too long.. or maybe that's juste the 2000s video quality
This is so upsetting. So the payroll people know, your employer pays half your taxes. Your taxes are pretty much double what you pay. That was a shock when I started my own business. The irs wants 15 percent on 30k... that's 4500
Say it with me folks, Capitalism. This is the kind of incentives that capitalism produces, people always trying to cut corners to maximize profits for themselves. Disagree with alternative systems all you want to, but at least understand the core of the problem before you reflexively defend it.
A very well argued essay. Stocks and other non-liquid assets should be taxed if used as collateral for loans. I really wonder what percentage the uber rich would actually be willing to pay without resorting to some sort of trickery. They do care about their image and at least to some degree after all. It has to be said though that it is by no means only the rich who try to avoid taxes, I know plenty of people who do undeclared work on the side as handymen or carpenters. Sure, they are by no means rich and it makes much more of a difference in their lives but it is not like they would be starving and homeless if they declared that income. Hell, I have done that, too, when I was a student.
At first, I missed Georg talking about horror movies but I realize now that his recent videos actually have more horrific subject matter than The Thing.
Yeah, the REAL Thing..
@@hithere3087 Did you really just delete all your replies? lol
@@Davethehedgehog that's what they do. Check out the simps for Jeff in the other comments. It's either sad, or hopefully these fools are just trolling.
@@anonconspicuous6910 I think the former. Super edgy probably says the people complaining are just doing it because they're too stupid to be billionaires, unlike their superior arse, who chooses not be to be rich because they don't care about money. Then says they were just trollin' bro and there's nothing anybody can do to change it anyway because it's just the way things are.
@@Davethehedgehog LOL!!! You are correct. When I was a kid, I was always told "people my age don't want to work", and I vowed to never be like that. But employing Zoomers in my business has a 0% rate of hard workers. Maybe growing up with smart phones and social media makes zoomers lazy and lacking in work ethic? They would rather check their social media than do their jobs. But I've seen many boomers equally as lazy, as they refuse to learn anything new. What if Boomer taxes went only to support Zoomers and vise versa, and millennials taxes just went to supporting other millennials. We are the hardest working generation since the industrial revolution, and we have to work hard and we pay our taxes to support everyone else. It sucks being a middle class millennial, as we have to support everyone else. My $1,300 a month health insurance bill supliments all the bums on Medicaid. But since I'm middle class, I am screwed paying for everyone else. I wouldn't mind, if I could use the disability taxes I've been paying into since I was 14. But I'm not a sponge on the system, so I am forced to pay more taxes than the super rich and the bums who don't want to work. Even though I work 60+ hour work weeks with a maimed leg from an accident. What boomer or zoomer could lose half their leg and work over 60 hours a week? None that I know. They can't even show up for 20 hours a week.
Remember folks, legal doesn't mean moral or ethical.
Stole the words right out of my mouth
Shut up Meg.
Is taxation by force moral or ethical though?
@@sevenproxies4255 If it's by force, the answer is pretty clear.
@@DP12321 Well isn't all taxation done by force towards the unwilling?
Just because you dress it up with the finery of court cases and lawyers duking it out, at the end of the day, the deal is still "pay taxes or we lock you up in prison".
I would say that taxation would be more moral and ethical if the individual had the opportunity to opt out of tax funded services.
For example if I told the government: "I don't want to use your schools, your tax funded health services, public roads, public parks, call the police if my life or property is in danger" and so on, and I could then sign away my tax paying responsibilities by also signing away my entitlements to tax funded services. One could no longer make the case that I'd be getting taxed by force.
But no government on earth offer you this way out of taxes.
These wealthy people could arguably afford their own services. They don't need publicly funded hospitals because they can afford to pay for private healthcare. They don't need police protection because they can purchase the services of private security firms.
They don't need public schools because they can send their kids away to private schools and so on.
In short, society wouldn't have to pay for ANY of their needs this way. So therefore it would no longer be reasonable or fair to force them to pay taxes.
But since no government allows them out of it, and basically just view wealthy and successful people as cash cows to milk at the government's choosing, I can't say that I can blame the wealthy for exploiting legal loopholes to keep their money to themselves.
The graph showing tax generated by source at 15:02 just absolutely blew me away.
Incredible video!
The outro was top tier!! “Jeff it won’t make people love you” 😂😂😂😂
Omg, I didn’t expect to see you commenting on this side of UA-cam!
Millionaire entrepreneur born in 1964
Human greed is really gobsmacking. I once stole 20 Euros from my dad, and I felt so ashamed that I could not sleep for a week, I ended up giving it back to him and confess what I had done, He just laughed but I was devastated to have done that.
How are people able to sleep at night when to them, too much is not enough? I have no idea.
Psychopaths are incapable of empathy so they sleep just fine.
You've answered your own question yourself.
"I *once* stole..."
It really isn't rocket science you just keep swapping money between subsidiary companies and expense everything, never technically being in profit
That’s way riskier than just stashing it in real estate
@@aygwm it's not risky if it's entirely legal? Like m8 if your lifestyle is that of always-being-at-work like crack head, then yeah i guess you should expense everything. you live at work.
Big fan of this arc
Me too
Has anyone ever told you that you have an incredibly generic name?
this is why America has the following technical distinction:
- if it's illegal, it's tax evasion
- if it's legal, it's tax avoidance
so named because of the "avoi dance" they do on us paupers' graves
Strong words...
Wise words...
Other countries use those two terms the same way, Georg is apparently just ignorant to the important difference and has conflated the terms in the video title.
I don't say "evasion", I say "avoision".
@@casbyness tax avoidance is just tax evasion for people who are rich enough for a good lawyer. That is why the "difference" between those two terms are completely irrelevant
These figures are obscene. That ending was chillingly great
Obscene is how much our money is stolen by the government as “taxes”.
03:55 *Streisand is one of the worlds leading proponents of OPEN BORDERS yet fought with the council for years to stop members of the public from walking on the beach below her gated beachfront mansion*
Funny how if I try to get food stamps from the government, I'm asked to fill out information on all my assets including my car and it's retail value
I'm sorry, do you think these wealthy people don't have a detailed portfolio of their assets, values and depreciation? We're now blaming contemptible wealth celebrity for the bureaucracy of government. This is the laser focus of the audience as I scroll down.
But poor people don't have cars lol
@@JayLeePoe u should laser focus ur head with a red dot
"Bezos"is a character played by Kevin Spacey.
FACT.
If he were younger and not black-balled, Spacey would be the only choice to play Bezos.
He already played him in Superman Returns.
@Paul Craig
Astute observation. Now I can never unsee.
Kevin Spacey is a great actor, though, Bezos is just not one of his best roles, I blame bad direction and the man gets what he can now these days given the "situation" he's been facing.
"You have to pay tax" "WROOOONG"
I love you Georg Rockall-Schmidt. Thank you for making this Friday evening so much better!
I really like the new direction this channel has taken. I was a fan before, but I am an ultra-fan now.
"The Golden Rule, those with the Gold make the Rules"
Don't hate the player, hate the game.
Are you going to name them? 😂
@@waterandafter The game is rigged
Damm, thats a S-tier slogan.
Ha !
Important reminder that billionaires are not your friends. Quite the opposite.
I'd like to add, if you don't mind, that you will also never be a billionaire and most won't be millionaires either so stop licking them boots.
Most people you’ve never met or interacted with before are not your friends either dude.
@@johnm91326 yeah, I was going to say--the creatures that ruined my grocery store on Aramingo Avenue and the ones who block my path to the job I go to so that they can get their precious online-ordered crap they bought from Jeff Bezos (who they claim to hate) in a timely manner also aren't my friends, so I'm not sure this is a "wealth dependent" characteristic
It is impossible to get that rich without engaging in some pretty shady behaviour.
Not only are billionaires not your friends you wouldn't want them to be.
Most of them are sociopaths or close to it.
They literally want you dead or enslaved, especially if you're white and/or conservative (real conservative not Ben Shapiro muh free market bs)
Just when you think Georg can’t get more based, he simply does it anyway.
It would be based if he made videos about movies again.
@@Peroid000 based is now advocating for more taxation? Jesus, bootlicking is truly chic now.
@@JayLeePoe Bruh. I just want him to talk about die hard again.
@@JayLeePoe You're probably poor.
@@elias_xp95 hahaha you have a fucking graph as your avatar? _jesus bro, do you people follow a pattern or what?_
Today (3 Oct '21) everyone is going mental over news coverage of the Pandora Papers, I've been only mildly surprised because this video explained the super-rich's tax shell games so well nearly three full months ago. You always inform, entertain, and make me think. Keep up the great work. PS my best to Jumbo, I haven't heard from him in a bit.
Loving the new direction of these videos old mate. Really interesting, you’re like if Tom Scott went to a state school.
"The only thing left to do with my money is go to outer space!" the man said, while standing on a planet where children were starving to death.
I want to live in a world without homeless or less fortunate that's not happening on earth soon let's go to mars won't have to look at them
I hope these billionaires get stranded in space
What's the point? Even if he donates his money to these countries the government will steal and misuse it. Look at China filling the pockets of various African leaders so they have access to their vast natural resources, yet these countries still stay dirt poor. The only way anything will ever change in these places is if the people overthrow their government and install a legitimate form of democracy.
Not possible to solve with biological humans.
@@muccmaster Stop blaming the victims. The thousands of children who starve to death every single day are not at fault. It's not their responsibilty to overthrow their government and establish democracy. They need help
Been watching a lot of these vids lately going even a few years back. Great stuff here. The presentation is slick, too. Dig the set.
"Number One: In 1945, corporations paid 50% of federal taxes; now they pay about 5%. Number Two: In 1900, 90% of Americans were self employed; now it's about 2%... It's called consolidation; strengthen governments and corporations, weaken individuals. With taxes, this can be done imperceptibly over time."
-Leo Gold, Deus Ex
Blackpilled deus ex
I recommend video "deus ex drops redpills"
Black pilled again 😔
Those numbers are completely fabricated. I’m a tax policy expert.
@@ryanellis7842 this game came out 20 years ago and takes place in 2052. Also, while the numbers aren’t exact, it is still a mostly realistic approach to it.
"I am Ozymandias. I AM THE GOLDEN GOD."
Dennis Reynolds would like to have a word with you ... Jeff.
finally someone covered this on youtube, and one of the best video essay channels no less.
I genuinely haven't seen people talk about this much over the years. But it's also widely reported in more academic/economics circles
Been waiting with bated breathe (and sheer terror) to see the next upload. While I very much enjoy your criticism of films, it's your takes on culture and cult of personality that I live for.
Cheers!
I always feel sophisticated when I watch a Rockall-Schmidt video
It's like subscribing to some posh newspaper.
Georg is the man!
So the only reason they have money is because of inheritance and infrastructure, but instead of paying into what they used, they hoard as much as possible to watch a ticker go up, on money they will never spend.
Wealth is limited; the more scarce it is, the more valuable and socially powerful it is. Those who hold a disproportionate amount of wealth over the masses are more socially powerful than the masses. They also largely dictate political affairs as well, particularly in regards to economics (which politics is essentially about, but I digress), despite not being elected in any elections. Think about it.
They don't hoard money. They invest it. They aren't scrooge mcduck with a vault in their house.
@@arisukak "invest it" it's given to them as stock, that's investment in the most meaningless use of the term, it's equivalent of putting money in a savings account and claiming I'm an investor saving the economy. Not just that the stockmarket is internal, the last year has shown that, while the economy tanked, stock markets were doing records.
Pretty much sums up crony capitalism perfectly.
@@arisukak They invest in stocks and furthering their own wealth. Not the communities. Generosity is an afterthought, with wealthy individual's philanthropy being used as primarily for tax deductions and PR purposes.
Maybe some scrubbing away of the guilt too
I.E Andrew Carnegie starting the Gospel of Wealth movement after a lifetime of encouraging Child Labor and reducing worker wages.
It sucks that informative content is buried in the current state of UA-cam. Great video
Maybe they're just saving up to build a nice opera house in Cleveland or something.
Opera house in Cleveland? My experience in Cleveland was riddled with mugging and violence on the streets in broad daylight. But the opera house would close, and they could claim debt
We talking Cleveland UK or USA?
Old Zuckerberg looks like he's from Innsmouth at times, I swear.
If by "at times" you mean all the time, I agree.
Sold his soul to Dagon. It's the only theory that fits
As does Jeff really....., and Elon....,,, oh wait a sec......
Lizard
The common arguement of "why should you tax success?" is such horse shit. We're only asking that:
A) they pay what's due and others have to.
B) maybe individuals having more wealth than a lot of countries is a bad thing?
They do pay what's due, that's why they don't go to jail for it. And it's not a bad thing. BIll Gates is pretty much bankrolling the whole anti-malaria effort. Imagine what the government would spunk that money on instead.
I don't care that they have wealth, I care that they use it to subvert and destroy the civilization in which I grew up and am currently seeing collapse in the name of some evil globalist experiment.
A) They pay more absolute tax than anyone else. eg Bezos paid around 1b in tax last year. Isn't that enough? How greedy are you? B) You would trust a government more than someone who has created a successful business with that wealth?
It’s because rich person shills think they have a chance of making it big, when really they have more in common with a homeless drug addict than a billionaire.
@@kman9884 Who has more control over your life, Bezos or the IRS?
Love all your videos n podcasts Georg, keep them coming please, I've clicked the like button on every single on of your videos...Most even before I've even watched the video itself because I know it's gona deserve that 'like'
Kudos for including Poroshenko! I'm from Ukraine and it's baffling how it's still not talked about enough. People keep reminiscing about the good old days under the rich bastard who still monopolizes the confectionery market here
All people who are called Jeff probably developed some psychotic disorder at the end of the video.
Can confirm. :(
How do the super rich avoid taxes? They invest all their money in lava lamps and Hiptang.
Loving this analysis series. And the podcast, film pieces, the whole back catalog. Any day is a good day to slap on those Boisterous Hosen and take command
Tax avoidance is only acceptable above a certain income threshold
That plays into all kinds of other justice...there's justice for most people and then the slap on the wrist for the people that can pay lawyers to muddy the waters and dilute the charges. "Oh, a $100,000 fine for the negligence of my company that resulted in 3 deaths and 24 permanent injuries?" vs. "Triple life sentence for stabbing a cop in the butt cheek while they were wrongfully detaining you and were literally beating you up in the process."
often with reason, being that above a threshold-- said person is actually stimulating the economy enough to catch the vip badge. Or should be. Mostly it's fealty to the industrial war machine and once you pay enough dues then we can say you're caught up and not worth the shake as much as keeping others in line, what don't even have aspirations of paying back colossal loans of millions, if they can even afford a home anymore.
@@JayLeePoe What the fuck are you talking about
Tax avoidance is only economical after a certain threshold.
You need lawyers and accountants to make it work. If you make bellow a certain threshold, the cost off tax avoidance becomes higher than paying the tax itself.
Damn, I remember first watching him for his movie rants and reviews so many yaers ago, now I'm all for anything Georg will create, hope He makes a video on the Pandora Papers
There's a reason the ultra wealthy are trying to get to space.
In space, no one can hear you pay...
@@KnuckleHunkybuck no one can make you pay
Great episode, loved the ending.
Legend says he's still saying Jeff...
Jeff
Georg I’m really loving how your channel in the time I’ve been subscribed has gone from film analysis to exposing the ruling class
I worked for the IRS for twelve years, out of the thousands of tax returns that included rental income, I never saw a SINGLE one that made money, not one penny. They always say that they operate at a loss. Some operated their rental units for fifteen or ten years without making any money at all, but they won't get audited, only the lower end of the middle class get audited. What? You thought America was any different than many countries?
The middle class is defined by home ownership, which includes disgusting parasite landlords.
David Bahnsen was just on podcast talking about the complexities of the tax code. Now I'm going to have to listen to that podcast again and watch this again. It seems like you've been taking on spicier commentary lately, but I find it's always very measured and never unkind. This is a woefully unappreciated channel.
@@russell-jaygould.8625Haaa! That would also make for an interesting video. Enjoy your Sunday, looking forward to seeing your film.
I've been liking these videos lately 😁
Love the nod to the streisand effect
Is it bad I knew that was Barb's mansion before he said anything?
Barb thanks you. She says she'd love for you to write her about your impressions.
Yes.
Another cracking video, Sir.Thank you.
Hopefully he stays in space on that cute little toy rocket he built all by himself
There are no taxes in space. Claim the moon as your business headquarters and primary residence. No tax payments necessary. This guy is is playing 4D chess with tax evasion.
Not in a suborbital.
Plus, at 17:45, there's a poem the Jez would be proud of
If he goes to space I hope he has a one way ticket.
@@pastlesandfish and no phone
This was terrifying.. bravo & well done
This is a great video as always but, like most discussions about this subject matter, I think something really basic has been missed. *"How much money does Bezos really need?"* For people like Bezos, Musk, Arnault etc. the almost pathological desire to retain their assets and finance any expenditures through debt really comes from the desire to retain control over their respective companies. *"If Bezos payed 50% of his entire wealth in tax he would still have $100 billion."* Yes, but his stake in Amazon would fall to around 5%, which has the potential to erode his tangible control of Amazon. The same is true for Musk, Arnault and any other wealthy individual who's net worth is derived largely from a single source. The money is incidental. The power is everything.
That’s his personal wealth, not his majority stake in Amazon. Additionally, he could change Amazon to provide better salaries for low wage employees with the control he has, why doesn’t he?
@@dropit7694 He probably should. My point was only that the wealthy hang onto assets because of the control it gives them, incidental to the money itself.
@@smittywerbenjagermanjensen9809 Your point was refuted with an accurate counterpoint, though.
@@dropit7694 He has a majority stake in Amazon? I see about 10%. 60% are institutional investors, amongst them quite possibly your pension fund.
i really appreciate your sarcasm throughout the videos when you are mocking these people. very pleasant to watch. thanks for the thoughtful video essays. this is top notched
Remember the workers who work for Amazon, Virgin, Facebook, MS, Apple, Tesla, Dyson etc have to pay tax...even on bonuses.
I think this is one of your best videos, Georg. And I really mean it.
I know everyone in their mother's loves to reference 1984, but I love that it is a three class system where the psychological horrors are reserved for the middle-class, the "Outer Party." They pay the most and they are the linch pin of the whole thing but and completely controlled psychologically. Change will not come from them. The Proles suffer materially, but they are free of Big Brother, but have to put up with random goon squads. The Inner Party can pretty much do what they want, but they are trapped in a monstrous system of their own creation. As Orwell says in the novel, "If there is to be any hope for the world, it lays with the Proles." Funny that right-wingers like to claim a Socialist writer as their own.
The problem is people keep thinking of writers and other influences as "ours" or "theirs", as ammunition or even dead soldiers, in a culture war. People like Orwell are quite heterodox, I am not surprised much of his writing strikes a chord with non-leftists (and honestly a lot of leftists need to lie to themselves too to pretend they are anything in line with Mr. Eric Blair), but I think most people stick with his anticommunism and non-marxism and little else. Honestly, right-wingers becoming more heterodox and absorbing in earnest some Orwell would be quite healthy to politics, but they barely go beyond reading/repeating his jabs at "commies"
This episode was excellent, well done mate!
It really makes you sick doesn’t it: To think of how hard a lot of us work, while getting our mostly humble salary’s squeezed for all they’re worth by the taxman………Then these bastards on the other hand get to have their cake and eat it as the rest of us fight over the crumbs.
That ending, class.
Unfortunately, in America getting out of paying taxes is down right patriotic.
You said 'unfortunately' but the adjective you were looking for is 'based' or possibly 'fucking based'
@@Whiteboykun having to pay for your own basic education, roads, firefighters, street lights would not be very based unless you were a medieval peasant
@@Whiteboykun Why do you talk like a 13 year old?
@@Leon_der_Luftige I like your username it really emphasizes your missing chromosomes
Considering the tax code and how it is distorted, yes, it is.
Impeccable timing, SecondThought just released a vid about this too.
Georg is Jeff's sleep paralysis demon
Love your videos. Great content, style and insight. Thank you for sharing
Ultra rich people sure look tasty
as a connoisseur of such cuisine, I recommend consuming them alongside Szechuan sauce
@@headsworthtg3585 Hello Reddit
@@arempy5836 Hello there -Obi Wan Kenobi
You sure look poor.
Great video. But TBH I prefer your old ambient soundtrack. It was like the musical equivalent of the lava lamp.
love that you can't criticize billionaires without a bunch of Tyler Durden wannabes coming along talking about grit n shit
Plastic libertarian silly billies
What happened to film? I miss those talks dearly. Happy to see you making content regardless~
Remember when George used to talk about movies?
Hell yeah Georg. Love this new channel direction.
It's time to eat the Rich, remember to say grace. Manners.
Do I say it on the way in, or on the way out? I feel the way out would be sufficiently graceful to these monsters.
You’re just big mad that they’re better people than you ever will be.
@@seanwieland9763 Ah yes, such geniuses that were able to *checks notes* realize that people would buy shit online lmfao
@@longliverocknroll5 obviously people value that very highly. That’s precisely what the price signals are saying.
@@seanwieland9763 brainwashed much buddy. Rich & poor are fine, but at these levels of inequality its bordering on grotesque at this point.
Introduction of land value tax's would help. Its more difficult to evade because it comes down to whoever owns the land pays the tax. If a billionaire tries giving the land to a shell company then the shell company needs to pay the tax.
JEFF
JEFF
ua-cam.com/video/0OzXZGA1k3s/v-deo.html
Thanks for moving away from your usual content, I like listening to pretty much all of your takes.
More videos about evil rich people 😈😈
17:37 Hilarious outro is hilarious. And more than mildly terrifying. Great show!
I want to fight Mark Zuckerberg in a cage match!
i'd just put in a hungry Jaguar instead of myself. Or maybe just a mountain lion to prolong Zucks suffering a bit.
The take away for me is that too much wealth is a disease, and should be viewed in the same light that people today view the poor: undesirable.
It's gif, not jeff.
Beautiful video, keep up the good work!
This is a story I love. Man builds himself an audience on bullshit podcasts and movie reviews. Once he has it tho, he starts this campaign he's on. Much respect from all us plebs to you Georg, when we come for the aristo's heads, I'll make sure we get you last.
Really enjoying this series, thanks!
Bezos always looks like a lunatic.
@@LeeThomas1 In space nobody can hear your stomach growl.
Thank you for making this video!!
What I can't stand is when people try to make things fairer by taxing bonuses, for instance. At my < $40k job when I get the corporate memo about how well the company did this year. It's always fun to add up the number of hours that will be in my profit-sharing check. "Hmm, that's about ... $500," I think to myself. Then I look at the deposit of $320 and wonder what I'm doing wrong as part of the 1%. I mean, it seems like they have more disposable income and don't have to live in shitty cracker-box apartments.
Or how the government put a cap on salaries, so companies started adding health insurance to attract employees. Now healthcare has been woven into some kind of nightmare tapestry of employers and insurance companies--all because someone thought they could make things MoRe FaAaAiIrR.
this dude is advocating for paying taxes on stuff you already bought and paid taxes on, thrice over. He wants a 4th tax. For owning shit that you already have. That's the math being encouraged here by Georgy. You can't just pay $455M or 30% on your $1.52B yearly earnings; _you must pay for that $15B you already earned and paid for! It's not like sales, property, gas and other taxes exist on top of income taxes._
@@JayLeePoe exactly. I'm just trying to bring up the law of unintended consequences. It seems that every. Single. Time. Someone comes up with a new scheme to get more money from the ultra-rich, they can't fathom that anyone might change their behavior, or how this will actually affect regular people too. Then you end up with some restaurant owner who wants to give his employees an extra $100 after a good quarter, or whatever, and they only take home $65 because "only wealthy CEOs make bonuses."
Aside from the disproportionate power large sums of money can have in politics, I don't care that Jeff has more money than he can spend in 5 lifetimes. This sort of imbalance tends to take care of itself after three generations. Either it's invested wisely and contributes to the economy, or it's squandered. Either way, the government will take it's bites over the next 100+ years. And whether the regular people are building a super-mega-yacht complete with runway for business jets for Jeff's grandson, or employed at a startup he helped finance, the money gets spread around.
@@jimstanley_49 They simply want to make it harder and harder to accumulate wealth. for anyone. The trends are towards you not owning the things you own. Right To Repair goes across all industries, farmers to apple tech. It's from all sides; the gold standard has long been used to keep "lesser" regions in perpetual usury. You don't own the electronic products you buy online, you're subscribed to a service that allows you to access content you've paid for, very much like a product that you, once, simply owned outright. It's the biggest backlash to Internet piracy that gets hardly a sniffle.
How much wood pulp can we put in this until it's no longer considered a true food product? Home ownership? I'm sorry pal but you need to afford the new tax for owning a house. Property tax? No, the other one that essentially doubles the cost of home ownership... for the generation with the least likelihood to ever own their own home. Yup. Sounds good. Soon we can just lease property from the government just like they do with The CCP. No property rights!
This video of yours needs the amount of views your terminator analyses get
Funny how all he can think of to do with his wealth is "go to space" when he could, I don't know, invest in something to get rid of the plastic shit in oceans.
Another great video mate, thanks for your content
I guess the simple solution would be to tax any loan that is secured by a non-taxable asset. If you have $100M in stock and need $50M in liquidity, then sell half the stock and take the tax hit. Or if you really want to keep all of your stock, then sure -- take a $50M loan but tax that as income. Of course that will never happen short of an all out peasant revolt complete with torches and pitchforks, but it is fun to chat about :)
they’ll just move to Branson’s private island
Wouldn't that apply to loans taken out with your house as a security?
@@newerstillimproved Depends upon the jurisdiction. My experience has been that most (or at least many) places assess an annual property tax on residential housing, scaled upon that year's market value. But sure -- if you are some kind of housing guru who owns 10 houses worth $1M each, and you need $2M in liquidity, and those houses are not taxed, then you bet -- either sell 2 of them for the cash and take the tax hit, or keep them all and take a $2M loan that is taxable as income.
@@ravenlord4 The annual property tax is one thing, but there is usually also a capital gains tax on the house, if you sell it for more than you bought it. But that latter tax is only due once you sell it, also if it's the only house you own. Actual rates depend on the income, how long you had the house, etc....
@@newerstillimproved Ah -- for people who only have a single house, then yes -- tax a loan against a house that is fully owned, or against equity on a mortgage, and adjust it against the current ongoing property tax. It is disposable income at that point after all, and you have the additional benefit of most mortgage payments being tax deductible on top of that already. Think of the loan as selling the house (or a percentage of the equity) to a creditor, but he sells it back to you later instead of keeping it or selling it to someone else.
As a dude named Jeff, the last minute or so of this video actually triggered an existential crisis. Thanks. Great video though.
Imagine how many “PIZZA PARTIES” 🤫, you can buy for 1 billion. Much less, 99 Billion……👹
Goddamnit. Gross.
If you have to sell your labor power to afford food and housing, you have to accept unfair deals. You have to be willing to get ripped of, i.e. for the things you end up buying to be worth less than the labor power you started out with.
If you invest money in raw materials and labor power to sell the resulting products for a profit, you're setting out to make unfair deals. You're trying to end up with something quantitatively more valuable than you started out with (a profit). Whereas your workers are just trying to end up with something qualitatively different from what they started out with and have to be willing to get ripped off to get it in order to survive.
Based
transformation of goods is an inherent increase in value I.E.: a plate of spaghetti composed of 100g of wheat and 10g of tomato is inherently more valuable than the raw ingredients.
While investment deserves a profit, it's unfair to say that "low labor" is not productive and only transformative: transformation of wealth is increase in wealth.
Whereas investing in a plot of land and a bunch of bricks takes you nowhere without the labor to turn them into a building.
Those in investing positions set out to "make unfair deals" only because the imbalanced positions of power created by their wealth.
Those in "low labor" positions have to accept being "ripped off" only because they start off in a position of relatively low power.
Modern capitalism is to economy what the feudal dark ages were to politic power: the powerful use their power to reinforce their power over those without.
If you have a house, and there is a boom in the housing market so your house is worth 2x what it was worth last year, would you like to pay taxes on that worth increase if you haven’t sold your house?
What are you even trying to say?
The answer would be pay your fair share. That house only has that value due to the infrastructure surrounding it.
@@Alex-cw3rz “fair share” is not objective but personal opinion.
I am trying to say that the increase of value of stocks you hold is not profit, same as the increase of value of your house. You shouldn’t pay tax on either. Pay tax on the profit you make when you sell.
@@realGBx64 no it's very objective in fact, they need to pay enough for what they've used and investment for the future simple as that.
okay yeah it's different to normal way a business runs, by the fact you did nothing to cause the growth. But that's like saying nothing should be taxed because inflation will cause a raise that was nothing to do with increased profit.
@@Alex-cw3rz yeah well, the government prints money that destroys the value of the currency, and then taxes you on that difference doesn’t seem fair to me in any way shape or form.
Your definition of “fair” is still just super subjective. Because in my book, they put in the investment for the future up front, they increased the value of the asset by making it more efficient and productive, so actually they made things better in totality.
@@realGBx64 Shares provide dividends, you fucking idiot.
Ok, the ending was one of the scariest fucking thing's I've ever seen ha ha 😆
Now if we could only get our tax money to be spent on us instead of sending $10,000,000 a day to israel.
Ah cool, another person who has heard shit on fox news and automatically believed it.
@@oxymoron02 Ah yes, anti-Israel fox news
This is brilliant! I can never get mad at people who want to save their money legally.
How do the super-rich avoid taxes?
Easy. Hundreds of people are drawn to them like moths to a flame, begging to be put in charge of various aspects of the super-rich person's life, promising that they can enrich the super-rich person even more in exchange for taking a relatively small cut of the wealth.
Bezos isn't some kind of lone supervillain. As soon as his fortune became significant, an army of accountants and investors arrived on his doorstep explaining that they could keep the tax man at bay in exchange for payment for their knowledge and services. Why do you think PewdiePie moved to the UK? Why do so many Hollywood movies get filmed in the UK, in exchange for so many Hollywood leads being English?
I would much rather have the world's economy being shaped by the driven, ultra-competitive corrupt egomaniacs of the private sector than the lazy, complacent, braindead and infinitely wasteful forces of government administration.
im pretty sure all of them are lazy and complacent. i went to a rich school as a poor person and i watched all these rich kids build fortunes by having support of people who share your philosophy and i guess not care about everyone who need help? they think its a dog eat dog world and then you listen to baseless claims that somehow the government that put all the engineers to work in the 40s and 50s and made this country what it is are the problem but people like ronald reagan who lie to voters tell them hes religious and close all the mental hospitals (where do you think all those old homeless people came from?) are heroes. even though the math clearly showed he fucked up this country. that everyone here wanted al gore as president. that people had to be divided and filled with fake patriotism to be convinced the war on terror wasnt to secure oil in the middle east and help out the right wing's friends in saudi arabia you know the place that harbors bin laden and had to be killed by the democratic president because bush wanted bin laden. just like the gop wanted the paris attacks so they can claim immigration is an issue. all the people there were organized citizens. youre being played like a fiddle.
@@eatmanyzoos You claim to disagree with me, but then cite a long list of government and public sector failures as your evidence, reconfirming my point. You realise Reagan was public sector, right?
It is a dog eat dog world. One aspect of this is the smaller dogs trying to trick the bigger dogs into becoming smaller, because the smaller dogs want a better chance at eating those bigger dogs.
@@casbyness its the same philosophy that the super rich have. theyd feel the same way they were poor. in fact they see us all as one big dog and are bitter and resentful even though they have everything they need. there is no reason the billionares need all that money. its just so easy to them and thats all their good at. all these billionaires have no real friends and are miserable. they have to take acid every day to believe they are operating on a higher level. ive taken plenty of acid and it just showed me how we are all the same and they are no more qualified to run companies than i am. someone who would have the same salary as their employees because id make companies for the positive impact. id be able to if monopoly laws were useless because of citizens united, you know the libertarian wet dream .
@@eatmanyzoos Because the government does care about helping people, right? Pay your taxes, plebes, and now that we paid money that some random politicians are going to waste, let's avoid all personal responsibility to help the people in need, pretending we actually already did something useful.
Yes yes, I would perfer ego maniacs with no regard for human life who bank on the firther exploitation and sickness of the people they leech off of and treat like dirt than people with a strong moral compass, strong beliefs in the self sufficiency of a country and people as well as hold great care for their education and health.
Between those two the first sounds the most appealing! Seriously... you're brain is rotten
I'm learning a lot about American tax laws this week!
They all look like strange creatures with googly eyes who have looked at themselves in the mirror for too long.. or maybe that's juste the 2000s video quality
This is so upsetting. So the payroll people know, your employer pays half your taxes. Your taxes are pretty much double what you pay. That was a shock when I started my own business. The irs wants 15 percent on 30k... that's 4500
Say it with me folks, Capitalism.
This is the kind of incentives that capitalism produces, people always trying to cut corners to maximize profits for themselves.
Disagree with alternative systems all you want to, but at least understand the core of the problem before you reflexively defend it.
Greed vs mass genocide, though choice, do I get to be in the ruling party?
@@trinidad17 Capitalism has been the root of global war and genocide for at least the past 100 years.
A very well argued essay. Stocks and other non-liquid assets should be taxed if used as collateral for loans. I really wonder what percentage the uber rich would actually be willing to pay without resorting to some sort of trickery. They do care about their image and at least to some degree after all. It has to be said though that it is by no means only the rich who try to avoid taxes, I know plenty of people who do undeclared work on the side as handymen or carpenters. Sure, they are by no means rich and it makes much more of a difference in their lives but it is not like they would be starving and homeless if they declared that income. Hell, I have done that, too, when I was a student.