The ultra-rich people are paying less taxes than you!

“My secretary is paying double the tax than I am,” Warren Buffet said in one of his interviews. Further, in one of its reports, ProPublica (a US-based non-profit organisation) stated that Jeff Bezos, founder of Amazon, paid taxes that were less than 1% of his total wealth creation in a year. that’s true! Ultra-rich people pay relatively low taxes according to their wealth. They remain undertaxed in many countries across the world. Their share of taxes against the income they generate is lower than 5%, whereas people getting salaries from their jobs are paying 10–30% taxes, sometimes 40% (the tax rate varies across countries), against their income. While many countries have a tax policy of progressive taxation, where rich people are charged higher taxation to uphold the principle of equality, there are certain loopholes in the tax structure that rich people are able to recognise and bypass easily by paying only a small amount of tax. And trust me, it’s all done legally! Their big, heavy pockets are kept immune from the taxes imposed by the government. Thanks to the highly-paid personal accountants who are bending over backwards to protect the pockets of ultra-rich people. Well, it’s not that easy to save taxes from the government, and that too legally, but it’s fruit that rich people are getting by putting their smart asses to work. However, it is not that difficult to understand how rich people save taxes, even if you are only ten per cent as smart as rich people. <a href="https://wire.insiderfinance.io/the-ultra-rich-people-are-paying-less-taxes-than-you-69638fa8c018">Click Here</a>