eli5 what do people mean when they say billionaires dont get taxed

Question

eli5 what do people mean when they say billionaires dont get taxed

In: 9253

Answer 1

They mean they aren’t getting taxed on the value of their assets raising. Which is actually perfectly fine because you don’t make “money” (and therefore owe a tax) when the value of an asset you own increases.

When a billionaire makes money, as in cashes out on an asset and makes money, he pays a tax.