In a recent interview with Bloomberg’s Sonali Basak, labor economist Teresa Ghilarducci highlighted the severe shortcomings of America’s retirement system, particularly the Social Security deficit. Ghilarducci offered a provocative yet insightful calculation: "If Elon Musk paid for Social Security just on his salary for the entire year and some of his capital gains were taxed to fund Social Security — just one person — it would save 1/20 of the deficit in Social Security."
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GOP Mega Donor - YASS Susquehanna Group
Yass has devised trading strategies that reduce his tax burden but push legal boundaries. He has repeatedly drawn IRS audits, yet has continued to test the limits. Susquehanna has often gone to court to fight the government, with one multiyear audit battle ending in a costly defeat. The firm has maintained in court filings that it complied with the law.
Yass’ low rate is particularly notable because Susquehanna, by its own description, specializes in short-term trading. Money made from such rapid trades is typically taxed at rates around 40%.
Ten Ways Billionaires Avoid Taxes on an Epic Scale
More #DarkMoney - Jane #Mayer : The #Koch Brothers #C-SPAN In Depth
#Billionaires save #SocialSecurity ... #socialequity for your opportunity to make billions - #Musk , #Bezos , #Yass , #Ackman , #Singer (Hedgefund), #Zuckerberg , etc
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