Do Wealthy People Pay Taxes?! (The Answer Might Surprise You)
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 11 August 2021
⏱️ 40 minutes
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Summary
Transcript
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| 0:00.0 | Do wealthy people pay lots of taxes. |
| 0:04.2 | It's Brian Preston, the money guy, restoring order to your financial chaos, retirement, |
| 0:11.2 | investing, taxes. |
| 0:13.1 | You've got financial questions, he's got financial answers. |
| 0:16.7 | It's Brian Preston, the money guy. |
| 0:19.4 | Yeah, Brian, I'm super excited about this one because I think this is true for you, but |
| 0:23.9 | I grew up in a household where the common thought was, you know, the wealthy people, the rich |
| 0:28.7 | people, that'll pay any taxes. |
| 0:30.7 | Taxes are those things that are left for all of the other folks to pay. |
| 0:33.5 | And I feel like there's even some of that in popular media today that like certain people |
| 0:37.8 | your stories about, oh, well, so and so doesn't pay any taxes. |
| 0:41.1 | And so it seems like it's a common thought that the more success that you have, the more |
| 0:46.6 | black box type access you have to things to get you out of paying any taxes at all. |
| 0:51.0 | Yeah, and this is one of those topics. |
| 0:53.1 | I typically try to defer this as much as possible because it might swerve into politics and |
| 1:00.3 | we don't do politics on the show. |
| 1:01.7 | I feel like that we just got back from podcast movement and I felt so bad for the presenters, |
| 1:07.2 | but like the third session on the first day was adding politics to your show. |
| 1:13.3 | And I'd probably say 65 to 70% of the room actually got up and left. |
| 1:17.5 | And I don't think it was because they were a different party than the speakers on the |
| 1:21.4 | state. I just think that we all get so tired of the politicization of everything. |
| 1:25.7 | So I'm going to try to navigate this, but here's why we have to cover this is because |
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