eli5 what do people mean when they say billionaires dont get taxed
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It’s mostly about not understanding how taxes work. There are very few if any that become billionaires by earning an income. The vast majority get to that status by owning assets, and the appreciation of those assets. You largely pay taxes on realised profits or regular income, of which billionaires have very little and thus pay an appropriate amount. Having a large amount of assets also allows them to take full advantage of any tax code to limit their tax liability.
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