शैडोइंग अभ्यास: How the rich avoid paying taxes - वीडियो के साथ अंग्रेजी बोलना सीखें
पाठ बनाया जा रहा है...
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This is Warren Buffett, one of the richest people in the world, thanks to the company he runs, Berkshire Hathaway.
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Basically it's a holding company that just owns a bunch of other companies — Geico,
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Dairy Queen, a huge railroad — as well as a lot of stock in other companies like Apple and Coca-Cola.
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So when those companies do well and their stock goes up, Berkshire Hathaway stock goes up.
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When Buffett took over the company in 1965, a single share was worth $19.
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Today it's worth nearly half a million dollars.
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Buffett owns nearly 240,000 of these shares.
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This is where his wealth is.
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But as he's been known for pointing out, Warren Buffett still pays a lower tax rate than his secretary.
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She pays at twice the rate I pay.
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I think that's outrageous.
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That's because they pay different types of taxes.
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His secretary pays income taxes on her salary, but Buffett mainly pays capital gains taxes on his sold stock.
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And that's taxed at nearly half the rate.
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The wealthy are definitely undertaxed.
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In the U.S., the disparity between the richest Americans and everyone else has been growing.
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And in the last 40 years, the after-tax income of the richest has risen more than 400 percent, while middle-class income has only risen 50.
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The way these people make money is very different than the way these people make money.
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And they're not taxed the same.
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I pay less in taxes than people that work for a living and make as much money as I do.
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This is Morris.
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He used to work on Wall Street.
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Now he's retired and lives off his many stock market investments.
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I own stock in companies like Berkshire Hathaway and Amazon and Apple.
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He's a pretty typical one percenter, except that he spends his money advocating for rich people like him to be taxed more.
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I want to live in a country filled with a middle
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class of people who can all afford to shop in our businesses.
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Most people have a normal job.
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They get a paycheck and pay income tax, ranging from 10 to 37 percent.
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But people like Morris, they make a lot of their income from investments, generally stocks in real estate.
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These investments are taxed as capital gains.
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And things like long-term stock have a maximum tax rate of just 20%.
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I sold some stock recently for $400,000.
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And my taxes on that is of around $50,000.
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But that $50,000 is far less taxed than anyone who has a job making $400,000 a year would pay.
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And most of his wealth, well, isn't even taxable.
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People like Morris or Buffett are worth so much money because of the stock that they hold.
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But it's not tangible, spendable, taxable money.
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I can look at my stock portfolio and I can say, oh, you know, I made a million dollars this year.
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But it doesn't have to pay anything in taxes
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because our system is based on only paying taxes when you actually sell something.
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Amazon's Jeff Bezos, the richest man in America, thanks mostly to his Amazon stock, pays almost nothing in taxes.
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We value his worth here, but it's never taxed, unless it's turned into real money when he sells the stock, and it's taxed as a capital gain.
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This is one way billionaires are able to be technically worth so much money, but pay so little in taxes.
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Some billionaires, like Elon Musk, are able to get loans against their stocks and live off of that.
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They don't even need to sell the stock to turn it into spendable money.
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No sale, no taxes.
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The fact is, if you're a billionaire, you don't need any income.
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There's also a big loophole in capital gains taxes that the rich exploit called the stepped-up basis.
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If, hypothetically, Warren Buffett were to sell his stock, he'd have to pay capital gains taxes based on his profit.
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So the cost of the stock minus the original investment.
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But if he holds off selling his entire life, when he dies, whoever inherits the stock,
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and then sells it, would only have to pay taxes on what they earned after they inherited it, leaving all those original gains untaxed.
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It's part of what's called buy, borrow, die, and it's one way the richest families avoid paying taxes.
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It's this system, and the fact
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that most taxable capital gains are going to the top 1%
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that lawmakers see changing the capital gains tax as an easy way to tax the rich.
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President Biden has proposed closing that stepped-up loophole and increasing the maximum tax rate from 20% to 39.6%,
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but just for people making more than a million dollars a year.
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Critics argue that it may discourage people from investing in the stock market, or that current millionaires would just sell less stock.
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But it would bring in more tax revenue, from more conservative estimates of $200 billion over 10 years to double that.
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It would also mean Buffett would pay a closer tax rate to his secretary.
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But this pile of unrealized money still goes untaxed.
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There's a lot of things we could do to make the system more fair.
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We could have taxes on wealth.
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We could have taxes on gains in the stock market.
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Most Americans are bothered that wealthy people don't pay their fair share.
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And changing capital gains taxes wouldn't be the whole solution, but advocates argue it would be an easy place to start.
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Our system is making the rich get richer and richer and richer, and everyone else just not.
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Vocabulary and speaking notes for this lesson
This B2 speaking lesson is built on the video “How the rich avoid paying taxes”. The speaker keeps coming back to these words: stock, taxes, gain, tax, Buffett. This video has 69 sentences and 922 words to shadow. The speech runs for 5:46. The speaker talks at a natural 160 words per minute, close to everyday conversation. 83% of the words are among the 3,000 most common in English; the rest is worth studying before you start.
Key vocabulary in this video
The 15 most advanced words in the video, with pronunciation and meaning:
| Word | Pronunciation | Meaning |
|---|---|---|
| taxable adjective | /ˈtæksəbəl/ | That can be taxed. |
| billionaire noun | /ˌbɪl.jəˈnɛɚ/ | Somebody whose wealth is at least one billion (10⁹) currency units (usually understood to exclude holders of hyperinflated currencies). |
| loophole noun | /ˈluphoʊl/ | A method of escape, especially an ambiguity or exception in a rule or law that can be exploited in order to avoid its effect. |
| spendable adjective | Capable of being spent. | |
| untaxed adjective | Not subject to being taxed. | |
| inherit verb | /ɪnˈhɛɹɪt/ | To receive (property, a title, etc.), by legal succession or bequest, usually after the previous owner's death. |
| disparity noun | /dɪˈspæɹɪti/ | The state of being unequal; difference. |
| hypothetically adverb | In a hypothetical way; as a hypothesis. | |
| lawmaker noun | One who makes or enacts laws. | |
| paycheck noun | /ˈpeɪ.t͡ʃɛk/ | A periodic payment, usually in the form of a paper check, received by an employee from an employer for work performed. |
| percenter noun | /pəˈsɛn.tə/ | A member of a group that forms a specified percentage of a population. |
| undertaxed adjective | Taxed at less than an appropriate level | |
| unrealized adjective | Not realized; possible to obtain or achieve, yet not obtained or achieved. | |
| discourage verb | /dɪsˈkɝɪd͡ʒ/ | To extinguish the courage of; to dishearten; to depress the spirits of; to deprive of confidence; to deject. |
| tangible adjective | /ˈtæn.d͡ʒə.bəl/ | Touchable; able to be touched or felt; perceptible by the sense of touch. |
Phrasal verbs you will hear
| Word | Meaning |
|---|---|
| go up verb | To move upwards. |
| step up verb | To increase, augment, or advance, especially by one or more steps. |
| hold off verb | To delay (someone or something) temporarily; to keep at bay. |
| live off verb | To depend on financially. |
| point out verb | To identify among a group of similar subjects, or in a scene where the subject might not be readily seen or noticed, with a gesture of the body. |
| take over verb | To assume control of something, such as a business or enterprise, and sometimes by force. |
इस वीडियो का व्याकरण
वक्ता जिन संरचनाओं का सबसे अधिक प्रयोग करता है, वीडियो के असली शब्दों के साथ:
| संरचना | वीडियो में |
|---|---|
| Passive voice be + past participle — ज़ोर इस पर कि क्या होता है, न कि कौन करता है | been known · are definitely undertaxed · be taxed |
| Present perfect have/has + past participle — बीता हुआ काम जिसका असर अभी भी है | has risen · has proposed |
| Relative clauses who / which + उपवाक्य — व्यक्ति या वस्तु के बारे में अतिरिक्त जानकारी | people who can · anyone who has |
Pronunciation to watch
The speaker uses 9 contractions and reduced forms, such as don't, doesn't, he'd. Say them the short way, as you hear them.
- Long words — get the stress right: disparity /dɪˈspæɹɪti/, millionaire /ˌmɪl.i.əˈnɛə(ɹ)/, technically /ˈtɛk.nɪˌkəl.i/, portfolio /pɔːtˈfəʊ.liˌəʊ/
How to practise with this video
- Listen to the whole video once without speaking and note the words you do not know.
- Start at 0.75× speed, shadow it sentence by sentence, then go back to normal speed once it feels easy.
- Record yourself and compare with the original, paying attention to words like taxable, billionaire, loophole.
शैडोइंग तकनीक क्या है?
शैडोइंग (Shadowing) एक विज्ञान-समर्थित भाषा सीखने की तकनीक है जो मूल रूप से पेशेवर दुभाषिया प्रशिक्षण के लिए विकसित की गई थी। विधि सरल लेकिन शक्तिशाली है: आप मूल अंग्रेज़ी ऑडियो सुनते हैं और तुरंत इसे ज़ोर से दोहराते हैं — जैसे वक्ता की छाया 1-2 सेकंड की देरी से। शोध से पता चलता है कि यह उच्चारण सटीकता, स्वर, लय, जुड़ी हुई ध्वनियाँ, सुनने की समझ और बोलने की प्रवाहशीलता में काफ़ी सुधार करता है।