A short YouTube explainer by Ramit Sethi arguing that while the ultra-wealthy have teams and strategies (minimization, amortization, deferral) to reduce tax burdens, they nonetheless generally pay more when taxes rise—hence their intense opposition to tax increases.
It is important to understand that the ultra wealthy have teams that will adapt. But it's also important for you to understand that when taxes go up, wealthy people will pay more. Wealthy people do not have some magical abracadabra wand that allows them to get out of paying more in taxes. That is why they fight so furiously against taxes going up. Sure, they can minimize them and amortize them and spread those taxes out. Okay, in some cases, maybe avoid paying a couple of them. But in general, rich people fight against taxes going up so much because they will have to pay them.
