Watch on YouTube
Income Taxes Should Be As Close To Zero As
This video does not allow embedding, so you get a static preview and a link to the original.
Key takeaways
- I think income taxes should be like as close to zero as possible.
- So, if you trade the most expensive thing for your money, then I feel like you should get taxed less than if you trade no time for your money.
- >> What do you think would happen if it was a 100% death tax?
- >> I think that billionaires would become far more giving.
Chapters
Full transcript
Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00I think income taxes should be like as close to zero as possible. And then make the capital gains taxes higher. If you make with your hands, awesome. If you make on your assets, that is infinite leverage with time. So, if you trade the most expensive thing for your money, then I feel like you should get taxed less than if you trade no time for your money. >> What do you think would happen if it was a 100% death tax? >> I think that billionaires would become far more giving. And as they approach the end, they know they can't keep it. And I also think it would change the way the game is played. But if you were to imagine life as a poker game, you get a chip and then you sit down at the table and you're dealt cards, right? There's all the other players around the table.
0:26And depending on cards you're dealt and the skill you have, you begin to amass chips. The difference between this fictitious casino and the casino of life is that in the real world, you can amass chips, you cash out, you have a big wad of money, and you walk out the door. But in the casino of life, when the grim reaper taps you and says you it's tells you it's time, you have to get up from the table, your chips stay on the table, and they push them to the middle to be distributed by everybody else. Like that's when you realize that it was a fake game with rules that never mattered to begin with.