realized capital gains too (of which Buffet makes most of his spending money I’m guessing
You’d likely be wrong. Most people with significant stock holdings get their spending money from small to no interest loans with the stocks as security.
One of the many ways in which the ultra-rich can and will game the system in ways not available to regular people.
Also one of the main reasons why unrealized gains need to be taxed.
Yeah agreed. The richest of people don’t even spend money. They literally take loans out against their exorbitant wealth and pay back such a tiny percentage that everyone who is rich wins, including them, because it’s just a calculated figure on how much they can continue to make off their capital gains
I think there must be some sort of mistake. Warren Buffett is the CEO of berkshire hathaway, and I’m sure he makes way more than the stated 5:1…
I’m sure he does, too, but how much of his income comes from Berkshire Hathaway and how much comes from his other endeavors and investments?
Fun little loop hole, I guess, but it kind of skews the data. But I’m nit picking.
You have to pay tax on income
You have to pay tax on realized capital gains too (of which Buffet makes most of his spending money I’m guessing), but at a lower rate than income.
You’d likely be wrong. Most people with significant stock holdings get their spending money from small to no interest loans with the stocks as security.
One of the many ways in which the ultra-rich can and will game the system in ways not available to regular people.
Also one of the main reasons why unrealized gains need to be taxed.
Yeah agreed. The richest of people don’t even spend money. They literally take loans out against their exorbitant wealth and pay back such a tiny percentage that everyone who is rich wins, including them, because it’s just a calculated figure on how much they can continue to make off their capital gains
Berkshire is a holding company, most of the employees work for subsidiaries.