Elon Musk ready to help WFP to solve world hunger but wants proof

[Hecturr 1,937]

19 hours ago, HEARTSTOP said:

They usually don't sell stock. They ask banks for credit at incredibly low interest because they have all that "security" in the form of stocks. This way, the amount they pay is infinitely smaller than what they would have to pay if they actually had that money, the big difference is that instead of the taxes going to the government that is using them to help society, the samller amount of interest goes to a bank that is probably only getting some other billionaire at the top richer. It's amazing that this way they can be earning hundreds of billions and still declare they are losing money to the government (and maybe even get some grants).

I understand that he doesn't have that exact amount of money, but normal people also have to pay taxes over their unrealized gains (properties etc). It's just these on the top that for some reason have special protections.

The law they were trying to pass would only take into account gains year-over-year, and if they had a loss, they could use that as a write-off. For example, if they earned 10B$ this year, they would have to pay 2B$ in taxes, even if their total unrealized gains go over 200B$. If for some reason these 200B$ were lost, and after a year they had "only" 150B$ left, they could declare the 50B$ loss as a write-off, probably excluding them from paying taxes, or even getting some back from the government.

Thank you for a thorough response , will look more into this 😇