Billionaires So Poor They Receive Stimulus Cheques.

Bit sickening really but looks like thanks to intricate tax loopholes and 'creative accounting' billionaires are doing such a good job masquerading as poor that they are now qualifying for (and receiving) tax payer funded stimulus cheques.

Going through the IRS records regarding the CARES relief package there are some familiar names which start to pop up including George Soros and Erik Prince (founder of Blackwater) but there's a more detailed analysis found in the article below - also pretty crazy that stimulus cheques were even being sent out to the Cayman islands.

A new report shows that due to tax write-offs at least 18 billionaires received stimulus payments, funded by U.S. taxpayers, during the pandemic.

Article:

These Billionaires Received Taxpayer-Funded Stimulus Checks During the Pandemic

Also turns out the Pope got a bit of a whopper after lobbying to the PPP (even though the church didn't meet the specific requirements).

The U.S. Roman Catholic Church successfully lobbied government officials to make an exception from federal rules to include the church in the Paycheck Protection Program, despite not meeting specific requirements.

Because of this exemption, at least $1.4 billion in taxpayer-backed coronavirus aid has been awarded to the church

As Millions Suffer From Unemployment, The Catholic Church Gets $1.4 Billion In Relief Funds

Anyway for those who haven't seen it or want to delve further into the murky world of 'off shore tax evasion' then thought this documentary was a pretty good one.

The Spider’s Web: Britain’s Second Empire, is a documentary that shows how Britain transformed from a colonial power into a global financial power. At the demise of empire, City of London financial interests created a web of offshore secrecy jurisdictions that captured wealth from across the globe and hid it behind obscure financial structures in a web of offshore islands.

Also, this being the conspiracy forum only thought it proper to include these speculative statements regarding the richest people in the world (hint - it's not Bezos, Gates or Musk) and did find it rather suspicious that Soros helped fund the recent Pandora investigations.

Perhaps the 'problem reaction solution' to all this generated public outrage will be to attempt to usher in the WEF's 'build back better' system (which in reality is 'Stakeholder Capitalism' and an infinitely worse system than the one we have now).

Hardly matters when your entire agenda is to take down the system or at the very least to sacrifice it for short term political gain.

The problem isn't billionaires, but a corrupted government system that has acted like a Banana Republic for decades, imo.

But yet every time we try to propose to simplify the tax code the left will scream bloody murder...

The tax code is complex because we've allowed politicians to use it as a way to accept bribes from lobbyist.

If you went to a simple flat tax or just go rid of income tax all together, you wouldn't have this problem.

a reply to: Edumakated

Exactly right, the current tax system is just being used as a legal way to launder and supply money back and forth to each other. A flat tax or a usage tax would eliminate much of this but there are so many people leeching off the system that have the power of the megaphone that it washes out all rationality of how a system like that would actually be better for everyone.

If you were able to change the tax system and couple that with a robust tracking and accountability system then we would be on track to actually help people and fund programs that taxes should actually fund but that will not happen unless the entire system falls.

originally posted by: loam

Hardly matters when your entire agenda is to take down the system or at the very least to sacrifice it for short term political gain.

Yes definitely looks like there's some kind of controlled demolition going on.

originally posted by: loam

The problem isn't billionaires, but a corrupted government system that has acted like a Banana Republic for decades, imo.

That's pretty much exactly what Russell says in the video Loam - thought it was well worth a watch.

a reply to: karl 12

I was watching a show the other day on the VICE Channel, "While the Rest of Us Die".

One thing they mentioned was about billionaires avoiding taxes by simply not paying themselves. It's probably more complicated than this, but the simplified version is: If all their wealth/earnings remain in their company(s), then they can just get loans to buy whatever, that they can pay back later when they die.

They said there were 2 recent years where Bezos officially earned $0.00. and also Musk had a $0.00 year a few years back.


eta: Another thing they pointed out on that show.... It's not that they don't wanna pay, they just don't wanna pay taxes. They have no problem giving it all to lawyers. They'd rather us peasants pay the taxes.

originally posted by: BrokenCircles
a reply to: karl 12

I was watching a show the other day on the VICE Channel, "While the Rest of Us Die".

One thing they mentioned was about billionaires avoiding taxes by simply not paying themselves. It's probably more complicated than this, but the simplified version is: If all their wealth/earnings remain in their company(s), then they can just get loans to buy whatever, that they can pay back later when they die.

They said there were 2 recent years where Bezos officially earned $0.00. and also Musk had a $0.00 year a few years back.


eta: Another thing they pointed out on that show.... It's not that they don't wanna pay, they just don't wanna pay taxes. They have no problem giving it all to lawyers. They'd rather us peasants pay the taxes.

The problem is we have an "income" tax. Wealth is not income. When your company goes public and you are all of a sudden worth hundreds of millions or billions, all your wealth is tied up in the stock market. You may still only be drawing a small salary that you pay income taxes on, but on paper you are immensely wealthy.

What happens is that instead of selling their stock, they can get a loan secured by the stock. So they live off the loan and it is debt, not income. Thus no taxes.

The easy fix to this is no one should be paying income taxes. Tax corporations, investments, and sales taxes. Keep it simple. For corporations, just hit them with say 5 or 10% flat tax with little to no deductions. Same with investments. You have to make the tax code so simple that it simply isnt' worth hiring an army of lawyers / CPAs to avoid and interpret.

Right now the tax code is so full of holes, nebulous definitions, and the rates so high that it makes sense to spend millions to avoid paying tens of millions.

I'm trying to start a business and no one will give me a dime go figure..

originally posted by: Ravenwatcher
I'm trying to start a business and no one will give me a dime go figure..

Pro Tip... raising money to start a business is often the hardest part.

There are only so many friends, family, and fools who will invest in a business.

a reply to: Edumakated

Especially since our tax dollars is what paves the way (literally) for those companies to make their millions/billions. Our taxes pay for the roads that they need in order to ship the goods/materials/whatever all over the country to and from their companies. Yet they do whatever they can to pay as little as possible for those services.

originally posted by: BrokenCircles
a reply to: Edumakated

Especially since our tax dollars is what paves the way (literally) for those companies to make their millions/billions. Our taxes pay for the roads that they need in order to ship the goods/materials/whatever all over the country to and from their companies. Yet they do whatever they can to pay as little as possible for those services.

Most people don't mind paying taxes. However, they don't want their money wasted. What has happened is that government is notorious for wasting money.

We collect more than enough in taxes. We have a spending problem.

Remember, the top earners pay most of the tax burden. The bottom 61% of the population in terms of earnings PAY NO FEDERAL INCOME TAXES. Let that sink in. More than half the population isn't paying sh!t.

a reply to: loam

The problem isn't billionaires, but a corrupted government system

I agree. Just look at the evil degenerates our political system produces. The Clintons, the Bush\Rumsfeld\Cheney crime syndicate, the Obamas, the Bidens. The corruption in Chicago, New York, Philly, Baltimore...
The system is rotten to the core, and f'd up beyond repair, yet people like to whine that billionaires don't play fair.
Those nasty billionaires own the politicians.

So there's no mention of the Catholic Church in the US being the owner, operator of Catholic Schools with thousands of employees.

one billionaire in the world is one too many

a reply to: RoScoLaz5

I saw something the other day talking about Elon Musk possibly becoming the World's first Trillionaire sometime in the near future.


SpaceX could make Elon Musk world’s first trillionaire, says Morgan Stanley

a reply to: karl 12

All valid points.

Elon Musk claims he doesn’t earn a salary, he only owns stocks.

He claims he would *love* to pay his fair share, but he would need to sell stock in order to do so…

So, yeah, creative tax evasion at play in the billionaire’s club.

a reply to: BrokenCircles

that's depressing but inevitable i suppose

Taxation is theft and abolish the IRS...so on and so forth!

If they can find loopholes.....I will find them too. Trust me. I find every single possible way to pay as little taxes as I can.

The only thing that bothers me is them preaching and supporting the people who want to tax more.

a reply to: BrokenCircles


Yes mate lots of info out there about the biggest wealth transfer in human history and certain individuals are doing extremely well - also remember quite a few CEOs stepping down just before the pandemic hit the fan.





Also looks like there's a feeding frenzy at the public fund office regarding MIC shareholders BlackRock / Vanguard and was reminded of this older news report regarding 'the greatest medical scandal of the century'.

originally posted by: maria_stardust
a reply to: karl 12

All valid points.

Elon Musk claims he doesn’t earn a salary, he only owns stocks.

He claims he would *love* to pay his fair share, but he would need to sell stock in order to do so…

So, yeah, creative tax evasion at play in the billionaire’s club.

A rich wealthy dude I knew said many wealthy people (not their family members or fake friends) own very little. It’s the companies they run that do. They don’t even technically own their on company either.