Why Raising Taxes Won't Affect The Rich | Minority Mindset - Jaspreet Singh

Get a 10-Day Free Trial of Market Insiders: https://theminoritymindset.com/Market-Insiders . . Digital Revolution - Build A Profitable Brand FREE eBook: http://theminoritymindset.com/get-3-keys-to-business-ebook/ Investing 101 FREE ebook: http://theminoritymindset.com/get-richer-sleeping-ebook/ SUBSCRIBE for the latest videos *NEW VIDEOS EVERY WEEK* SC @M2JaspreetSingh http://www.TheMinorityMindset.com Instagram: http://www.Instagram.com/MinorityMindset Facebook: http://www.Facebook.com/MinorityMindset What’s up everybody, my name is Jaspreet Singh & Welcome to the Minority Mindset’s finance Friday. Today I want to go over how taxes work, without going into the politics or implications of these rules, so you understand the best way to make money. Check out some of our recommended products! ---------- ➤ Fundrise 1) 🏠 Fundrise - Invest in real estate with as little as $500! See the historical returns here: http://bit.ly/InvestFundrise ---------- ➤ CIT Bank 2) 🏦 CIT Bank - Get a better interest rate on your savings account with no fees: http://bit.ly/CITsavings ---------- ➤ Webull 3) 📈 Webull - Buy & sell stocks, pay $0 in commissions, and get a free stock: http://bit.ly/m2WebullFreeStock ---------- ➤ Credit Cards 4) 💰 Credit cards are great if you know how to use them the right way. Here's a breakdown of our favorite cards: Best cash back credit cards: https://theminoritymindset.com/best-cash-back-credit-card-personal/ Best travel credit cards: https://theminoritymindset.com/travel-credit-card/ Best business credit cards: https://theminoritymindset.com/business-credit-card/ ---------- ➤Credible 5) 💸 Credible - save money on your student loans (and mortgage) by refinancing with the lowest interest rates: http://bit.ly/m2StudentLoanRefi ---------- ➤ Policygenius 6) 🛡 Policygenius - make sure your family is protected with life insurance. Policygenius will find you the best deal: http://bit.ly/PolicyGenius ---------- ➤ Airbnb 7) 🏘 Airbnb - earn extra income by listing your home: http://bit.l y/M2Airbnb ---------- The reason the government gives certain types of income preferential tax treatment is to encourage investment and the growth of businesses because businesses create jobs and jobs can make or break a company. So, what happens to rich people if the president decides to change the income tax rate from 40% to 90%? Well, if earned income tax rates go up, and I’m a business owner, I will cut my salary down significantly to the minimum amout considered “reasonable” in the IRS’s eyes so I have to pay as little in income tax as possible. You might be wondering how I make my money then? Well, remember what I talked about with McDonalds, companys can give dividends or cash payments to their shareholders which is taxed at a lower rate. So I would take the smallest salary I possibly could and just take out a huge dividend. The only difference between my dividend and salary is what name I give the money and how much money I get to keep after taxes. If you were going to be given $100, would you chose to pay $20 in taxes or $40 if both are legal? Now imagine if we were talking about a million dollars or 10 millino dollars. It adds up. This is why it is important to know how money works, not only so you can get your money working for you, but to understand how you can keep the most amount of money as possible. Because $100,000 from your job isn’t worth as much as $100,000 in capital gains. This is where a lot of people start to complain about this for one reason or another. Don’t be the majority. Let me give you an alternative option, stop complaining and find ways to legally take advantage of the tax laws so you can keep more money at the end of the year. It’s more incentive to be an entrepreneur business owner and more incentive to getting your money to work for you #ThinkMinority #MIH #Taxes http://www.TheMinorityMindset.com This Video: https://youtu.be/zpDiFvhglmI Channel: https://www.youtube.com/c/MinorityMindset Based in Detroit. Jaspreet Singh DISCLAIMER: This description may contain links from our affiliates, sponsors, and partners. If you use these products, we will get compensated - but there's no additional cost to you. DISCLAIMER CONT'D: I'm just a random guy on YouTube - do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.