1. 2020 taxes: Why the rich are so cheap

    2020 taxes: Why the rich are so cheap

    A favorite binge-watching television series on several streaming services, “Trust” is a fictional drama about how J. Paul Getty, once the richest man in the world, and his family reacted when his grandson was kidnapped.Before the kidnapping, the Getty character responds to his teenage grandson’s request for money, and they discuss why he cannot give him any even though they are worth billions.Getty explains, “It’s a self-sustaining system that never pays a cent in tax because it never goes a cent into profit. For the purposes of accounting, Getty Oil runs at a loss, my boy ...

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