How do we know who is the richest person in the world?

What do the super-rich do with their money?

Do all billionaires work to make money?

Have you ever invested in stocks? Why/why not?

Do you think the tax system in your country is ‘fair’?

How do you know how much tax you have to pay?

Are there any easy ways to pay less tax?

Watch the video from Vox and summarise how the rich stay rich,
including “buy, borrow, die”.

How the rich avoid paying taxes - YouTube

Why do you think some of the billionaires in the video want to be

taxed more?

Do you think everyone wants a ‘fairer’ taxation system?

Do you think inherited shares should be taxed differently?

VOCABULARY:
Match the words to their meaning

1. Outrageous a. Publicly recommending or supporting

2. Disparity b. Concerned about something
3. Advocating c. A great difference (usually unfair)
4. Paycheck d. Benefit unfairly, use in a selfish way
5. Tangible e. A gap in the law that lets people avoid punishment
6. Loophole f. Shockingly bad or excessive
7. Exploit g. Salary or wages of an employee
8. Bothered h. Able to be touched, real

Complete the sentences

1. It seems some people are not _______ by the pandemic at all.

2. Some church owners ______ people’s faith for money.
3. The politician used a ______ to avoid going to prison for money laundering.
4. Cryptocurrency confuses me so much, because it is never _______.
5. For some poor people, they have spent their _______ before they receive it.
6. He is _______ for the release of all prisoners convicted of possession of cannabis.
7. There is still a huge _______ between the vaccine rates of rich and poor countries.
8. Have you heard about the _______ behaviour of the England football fans last weekend?
Watch the video again and answer the questions below:

1. What company does Warren Buffet run?

2. How much was one share of Buffet’s company worth when he took over?
3. How much is one share worth nowadays?
4. What rate is Warren Buffet’s secretary taxed at?
5. How much has the after-tax income of the top 0.01% increased in the last 40
years?
6. How much has middle-class income increased in the same period?
7. What is the maximum tax rate for long-term stocks?
8. When do people have to pay tax on long-term stocks?
9. How does Elon Musk avoid selling his stocks?
10. How much does Joe Biden want to tax capital gains?

Why are share gains not taxed the same way as other income?

Do you think ‘rich lists’ that are published in the news are useful?

Do you think wealth inequality is going to continue to rise, or have we

reached a peak?

Would the world be better without any billionaires?

Can you ever trust a billionaire to be president?

Writing: Choose one of the following.

1. Give your top tips for investing in the stock market.

2. Write an email to the government expressing your opinion of tax avoidance.
3. Write a proposal for new tax laws in your country.