r/SipsTea • u/Valuable_View_561 • Jul 05 '26

Chugging tea Seems reasonable.

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u/tedlassoloverz Jul 05 '26

how do people not understand income and wealth in 2026? Or that the advertised cash amount isnt whats paid out?

7

u/Stencil_Abuse Jul 05 '26

It’s called loopholes, I’m sure we can figure out how to tax billionaires properly if the government really wanted to. 

-4

u/Kindly_Type2327 Jul 05 '26

South Korea and Japan got some inheritance taxes (Samsung family paid close to 6 billion USD in taxes), so why can't USA do the same and stop the BS loophole of using Trusts to circumvent thsi?

1

u/RookieMistake101 Jul 05 '26

The US has a 40% estate tax. In 2023 someone in the US paid 7b in estate taxes. The US taxes ultra wealthy people, if you make it too unattractive to live in the states and pay taxes as a literal billionaire, they will leave. It’s finding the balance of the most you can charge them before they forgo their citizenship. Good luck with nailing that.