Are you wondering what will happen with your taxes when Biden takes office? Today’s guest describes what will happen If you are earning ordinary income—working a 9-5 job.
The reality is employees have little control over their money when it comes to taxes. They are at the full discretion of the law, which gives them very little wiggle room.
On the other hand, the rich are excited about the tax cuts. Not because they might make more or less in after-tax income (though the smart ones always will make more), but because they have new incentives built into the law to discover and take advantage of.
One question that gets answered is: Why does the government reward entrepreneurs and investors with tax breaks? Tom Wheelwright, Rich Dad Tax Advisor says, “Because entrepreneurs and investors do exactly what the government wants them to do. “
Host Robert Kiyosaki and guest Tom Wheelwright discuss why it doesn’t matter if Biden’s promises come to fruition because the rich know how to always pay fewer taxes through the government’s incentives.
00:00 Who’s paying taxes?
03:57 Tax incentives for entrepreneurs and investors
05:27 Three types of income
09:32 Incentives in Biden’s tax plan
14:21 Tax the rich
21:48 Highest taxes = lowest investment return
22:14 If you want to be a capitalist
#robertkiyosaki #tomwheelwright #taxfreewealth
Tweets by theRealKiyosaki