4 ms·
Well, first, no, they don't. Gifts, inheritance, spending it via "charitable" organizations, or better yet spend in lower tax regions. We have multi-generationa
by Spellman 5y ago
Well, first, no, they don't. Gifts, inheritance, spending it via "charitable" organizations, or better yet spend in lower tax regions. We have multi-generational trust fund families.
Secondly, they can accumulate more wealth much faster than they can spend. Plus they can play with things on a longer time horizon and move internationally. Like, say once the sales tax drops.