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Why is it so hard to tax billionaires? (Part 2)
PJ Vogt
So obviously, anyone who is not taking income is not going to pay income tax. But most people need some form of income to live. What sets ultra-rich people apart is that they typically own at least one very expensive asset. For instance, a business they made or inherited. And there's actually a way to make money off of that asset without that money being taxed as income.
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