Poor Billionaires
Rich people who have foundations to help ‘the poor’ got their money from two streams. The first stream is entertainment related (sportsmen, actors, Oprah Winfrey etc.). The second stream is business-related and we cannot say business, without saying workers.
The difference between billionaires and workers is paying the government. Businesses pay less taxes than workers and it’s quite legal. Business creates jobs, permanent or temporary.
It makes governments happy. Business spends money to set up offices, mining or factories. That’s why governments reimburse them part of those business expenses. The key phrase is 'business expense' and billionaires are very good at it.
WORKERS | BILLIONAIRES |
Workers pay for food. | Meals with clients are a business expense. |
Workers pay for the bus and cars to work. | Fuel for pick-up trucks or limo’s is a business expense. |
Workers pay for the family vacation (if they can afford it at all). | Vacations can be deducted as a business expense, if meetings or site visits are squeezed in. |
Car breaks down, workers pay the mechanic. | Vehicle maintenance is a business expense. |
Phone and internet cut off at home if workers miss payments. | Home phone is a business expense. You see, they work from home because of time zones e.g. London and Chicago. |
They pay for the family Christmas party. | Office Christmas party is a business expense. |
Workers buy fabric to make costumes for Toronto Caribana, Brazil and other carnivals. | Taking clients to strip clubs is networking and is a business expense. |
So, if you’re practically paying no taxes, what will happen? You’ll make money hand over fist, but there’s a problem. Government wants a cut.
No problem, form a foundation for ‘the poor’, mostly workers you retrenched because they wanted $15 an hour, which is chicken change because you tip the casino valet $100.
This is another ‘written podcast’ from Nonqaba waka Msimang.
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