I only read half the article due to time constraints. The wealthy buy (or are given) stock in companies. The value of these companies grow. It allows the stock holders to obtain wealth. At least on paper. It's not income until they sell the stock. Now most companies should pay out dividends (which are income at the point the dividend is issued) and that should devalue the stock appropriately, but most companies do not participate with dividends. Why give out cash to the stock holders (AKA 401k participants? That's inhumane! /sarcasm
Jeff, Bill, Elon, etc will pay the tax when they sell their stock. Talk to Buffet about issuing a dividend. Oh that's right. He plays by the same rules as every other billionaire.
What a philanthropist!
Jeff, Bill, Elon, etc will pay the tax when they sell their stock. Talk to Buffet about issuing a dividend. Oh that's right. He plays by the same rules as every other billionaire.
Berkshire Hathaway (BRK.B) famously doesn’t pay dividends – it has better things to do with its shareholders’ cash – but Chairman and CEO Warren Buffett sure loves collecting them. In 2018 alone, Berkshire raked in $3.8 billion in dividends – “a sum that will increase in 2019,” Buffett said in the annual letter.
What a philanthropist!

