Mindset, Grit & Failure
Why do rich people pay less in taxes than W-2 employees?
Answered independently in 1 episodes. Every line below is verbatim from the transcript, timestamped to the moment it was said.
The short answer
What the archive says
01Income from a small business can be taxed roughly 30% less than the same dollars earned as W-2 income, because of write-offs like home office, auto, dining, electronics, cell phone and family payroll. source →
In their words
What was actually said
Save some taxes right off the rot of and I love that bread and butter stuff There's no mystery It's not like there's this secret thing like mark out-of-way save tax It's just doing the basics and knowing it understanding it own in it And there's no sexy secret there except that you really can build wealth that you maybe never imagined with just those simple base hits It's not about getting rich quick.
The episodes