Re: the RICH make the RULES
they make more, but they are taxed less, and they use that money to invest.
Re: the RICH make the RULES
Let me guess...Rich Dad, Poor Dad?
Great books that have definitely inspired me.
Re: the RICH make the RULES
Investing can make you a rich person! But rich pay taxes.
Define rich, nice cars, rolex, owning your own home, extra money to play and invest, lose and not feel?
Lots of meanings for the word "Rich".
Pamela :)
Re: the RICH make the RULES
A lot of the "tricks" used by "rich" people are in fact available to everyone. But they usually require legal fees or travel or other peripheral costs. It's no big deal for someone to spend $5000 to establish a trust worth 5 million, but spending the same $5000 to establish a $50,000 trust isn't economically feasible. Similarly, it's no big deal to spend $5,000 on a Cayman Islands vacation to open a 5 million dollar offshore bank account, but spending the same $5,000 to open a $50,000 offshore bank account isn't economically feasible (unless you get somebody else to spring for the vacation trip ;) ) Now it's mostly academic anyhow, since the terrorist anti-money laundering law has focused a ton of attention on tax shelters and offshore finances and there are strict legal limitations in place for rich and not so rich alike. I'm sure glad I opened my Swiss bank account a few years ago, since I could no longer do so today.