The Marc Steiner Show: These US states are billionaire tax havens

1. Your program won't play on Podbean. With my Assurance wireless phone, free government cell phone. Who did you piss off?

2. You can have a trust worth 10X your debt and legally file bankruptcy on your debts wiping them clean and start over every 7-10 years. Bankruptcy doesn't hurt credit like many think it does. Just look at the Donald

3. Investing is not the same thing as having money to eat with. How do they get the money out, spend it, and live? So a billionaire has trusts, then how do they stay rich if their trusts hold all of the money and just gets reinvested over and over in other investments? And when they have capital gains that go back into the trusts why don't they have to pay taxes on that? In the end this is not difficult. The math might be. The rules might be. But in the end it comes down to bad people willing to do bad things for other bad people for money. Nothing new.

4. Corruption is the problem!!!

5. Why should all those lazy fat crooks in government take my hard earned money??? We are already over taxed!!!
   The government already makes loads of money in feas, fines, and sales tax that every single human being is paying from birth till death!!! So now you want to tax what I leave to my children because I freaking died!!! Government needs to learn how to manage what they have!!!

6. my dad established a Trust to avoid estate taxes and when he passed, the designated Trustee in his trust document exploited the vague and fuzzy provisions to steal ["convert"] most of the money in the Trust bank account. I am a lawyer, and later found out about it. I failed to review my dad's Trust document when he was alive and when he told me about it because then I could have asked him to revise the unclear and sneaky stuff in the document. I could thus have easily prevented the Trustee's rip off. So my advice to anyone with a Trust particularly the designated Trust beneficiaries – typically the spouse and children – is to read the trust document and demand that whoever is the founding Trustee and his lawyer who drafted it remove any complicated, unclear or vague Trust provisions, or revise them so that they are clear to you and not against your interests.

7. So this is why they're coming after people with $600.00 or more in the bank. Walking passed a dollar to pick up a dime.
   Sure, that will balance the budget! 😵

8. Although yes trusts hold wealth, it's entrepreneurial private wealth – it doesn't belong to the state. Trusts are not evading tax it's avoiding it legally. There are considerable drawbacks for the settlors/grantors for setting such structures up too. Furthermore, they are the wealth creators and they pay more personal tax by far than anyone other social strata and also although generate various other forms of tax through economic development without which the country would be significantly poorer. If anything there needs to be a fair annual wealth tax akin to what past Islamic empires would implement which is known as the zakat. There is absolutely no evidence to say the ultra wealthy are not paying their fair share of taxes. You go down that path, you'd be stealing their wealth and it will stifle entrepreneurship and they will leave the country.

9. Your high level Federal political leaders (sen, and pres-o-dent) are in lock step between the false dichotomy of red and blue "teams" and enable this as a prerequisite to getting support to run. I'm sure there are a few that will fight to fix this, but they will be destroyed by the entrenched mass majority of shills. Fixing this will require a complete revolution, and the people, as long as they get treats and have food, will gleefully ignore what it takes to fix this … and that is about 99% of the "citizens". The vast majority of them are too distracted by their bad choices, kids, drug problems, and general confusion and lack of intelligence to even begin to understand anything past the simple propaganda lines. This will ONLY get fixed when the General AI takes control, no human(s) can really fix this. I have ZERO hope that there will be some Jesus figure to make the people aware of much of anything. Corruption is normal and the US system is built around it.

10. I'm pretty confident that nothing will change it. 😑

11. So many comments I could not get through them all. Did anyone mention that places like Washington State take decades to build transit projects while the billionaires could finance the entire project and hardly even notice?

12. Nothing will fundamentally change.

13. And when we do.then take the.hiden money and use it for taxes like the gov does out forfitur

14. It needs to be stoped it's line laundrinf there money to stay out of law suites

15. Hes Tottly right we are letting these people get away with this and need honest people in our government

16. It I disgusting listening to how this is all about supporting state theft of money. All people should be using any legal means to prevent taxation. Honestly, all theft should be avoided, but especially through legal means. Use the strategies rather than hating those who do. Do you qualify for all the methods.. probably not. If you don't utilize those you can, then you probably never will.

17. Wow, great show Mark. I'm so filled with rage, I'm ready to burn down some mansions. WHO'S WITH ME!!!
    Seriously, though, big props for bringing this to light. Great guests and discussion. Thank you!

18. We know. We are powerless to change anything.

19. Poor people lose assets all the time because they can't afford or maneuver the probate system. So even having a will doesn't guarantee your heir will inherit anything.

20. It's so barefaced it's almost funny. Is this really why they go to law school? Do their parents know? 🤔

21. Min 14+ non-citizen people also pay taxes and they will not claim returns which represent

22. Of course it exploded in the last year. 🤔 The question is “ why is it allowed?” The States have control over it, why are they continuing to allow it?

23. Yes it’s important to reduce wealth inequality and make sure everyone is paying their fair share. However, it’s also important to note that US gov is not financially constrained; it does not use or require fed taxes to pay for anything. Money to fund our public programs happens with a simple Yes vote in Congress. Please interview economist Stephanie Kelton on her book The Deficit Myth. would also be good to have economist Warren Mosler on to discuss his book The Seven Deadly Innocent Frauds of Economic Policy.

24. Congress is responsible for creating/amending the tax laws at the federal level. Billionaires are just doing what the law allows them to do. And as you have said, billionaires have financial handlers whose job it is to reduce their taxes. And if Congress members and POTUS are taking donations from billionaires, they aren’t going to bite the hand that feeds them. The only way to change this for the 99% to push their reps in Congress to create fairer tax laws. Same for the state level.

25. This seems to be an utterly ridiculous oversimplification of what's going on. The US literally founded itself after a tax rebellion, and you are here talking as if its somehow humane to force these people to pay money to your system. What actual power does the government have to steal billions of dollars from its citizens? The only real problem is that it happens to the normal person while clearly the wealthy dont have to tolerate it.

    When your solution is to make them outlaws, what are you even doing? You are saying that if these people dare to bury their assets in the ground, your will come to their house with guns and enslave them. This is just fucking sick, grow the hell up America, or you will rightfully burn.

26. There is no such thing as a well functioning capitalist country.

27. So when anyone goes to take any of the money out of the trust don't they have to pay taxes as well? Taxes DO NOT GO INTO COFFERS. Taxes are zeroed out of the money that was created from the fed that congress votes into existence. The States have coffers because they can't vote money into existence. States rely on Taxes and companies investments. The Federal government makes the money by moving decimal points on computers. No real money ever changes hands physically.
    And the federal government can't actually go broke and can spend based on their ability to produce stuff. So the Federal government can do anything they want within their ability to produce stuff. With a Fiat currency, deficits are required so the deficit is the tracking device to see how well the everyday people are living. The lower the deficit the worse of the public is living, the greater the deficit, the better off living conditions are.
    Also reducing taxation on the lower income folks like myself would not hurt the government at all. Why? Because they can literally just erase the taxes. Taxes are a zeroing tool to help manage growth.
    They choose to not tax the rich and then fuck the rest of us to make it look like they have to. So the reason you are confused is because you are realizing that the fix is in and it isn't on your side. Remember what George Carlin said Famously? " It's a big club and you ain't in it."
    I just can't believe that you all don't know these basic facts.

28. What if we treated trusts like Roth IRAs, pay the tax when the funds go in then no charge to withdraw. At least the people would get something.

29. On the logical side of truth and the facts of life…….no one lives forever, and you can't take it with you. I'm sure we can figure out a solution to this global wide problem.

30. Remember the IRS and national income tax was enacted in 1913. This is unconstitutional so why don't you talk about this reality.

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