Two speakers debate tax strategy for the wealthy and ordinary people. They argue the government doesn't tax unrealized stock gains, and that anyone can reduce taxes legally by treating a home as investment property, using LLCs, or claiming depreciation write-offs. The key: stop thinking like a victim and learn to play the same game.
Isn't it convenient that the government says you can't tax unrealized gains on stocks? The wealthy people own the stocks. They haven't sold it yet. How can they pay the taxes? I understand that logic. I'm tracking with that logic. So let's use that same logic. You can't tax unrealized gains on houses. Oh, well, is it because the middle class owns houses? But hey, at least investment properties are taxed the same way as homes. So the wealthy can still pay their fair share. No, investment properties get to write off depreciation, which means you. Even if the house goes up in value, you can say it got older so it's not worth as much. They get to write off maintenance. So if a fridge or a garbage disposal goes out, that's a tax write off. You owning a home. You need to buy a new fridge. That's tough. You better get going. Lowe's is closing soon. Throw that fridge on a credit card.
The government doesn't hate you because you're not a billionaire. The government doesn't even give a shit about you at all. The craziest part is you don't have to pay those taxes if you know how to exploit the loopholes like billionaires. Loopholes like living where you rent so your home is an investment property on paper. Loopholes like buying your home home using an LLC and renting your home to yourself. There are so many ways for you to win if you know what plays to make.
