People like to joke that the only sure things in life are death and taxes — but according to Tesla CEO Elon Musk, Americans are getting way too much of the latter.
“You get taxed on what you earn, you get taxed on what you buy, and you get taxed on what you own. Taxes, taxes, taxes,” Musk said during a town hall in Pittsburgh.
He’s not wrong. Most people pay income tax on their paychecks, sales tax on almost everything they buy, and property tax if they own a home. It can feel like every dollar is taxed the moment it enters — or leaves — your wallet.
Musk didn’t sugarcoat how he feels about it either: “We get the living daylight taxed out of us.”
And he wasn’t exactly shy about criticizing how that money gets spent.
“A bunch of the stuff it gets spent on, you don't even agree with. That's why we need to reduce the size of the government … and let people keep more of their hard-earned money,” he said.
Of course, taxes also pay for things we all rely on — schools, hospitals, emergency services, roads. But Musk’s frustration resonates with a lot of Americans who wonder how they’re supposed to build wealth when every move seems to trigger another tax bill.
And he’s not the only one saying it out loud. NYU professor Scott Galloway often argues that if you want to get rich, you need to legally minimize your taxes as much as possible.
“Tax avoidance is a key skill to building wealth,” Galloway said on Steven Bartlett’s podcast “The Diary of a CEO.” He even compared it to a prisoner of war having a duty to escape.
Galloway’s go-to move: “You never sell”
When asked what rich people actually do to lower taxes, Galloway didn’t hesitate: “You buy stocks, you never sell them, you borrow against them.”
He laid it out simply: If you own $100 of Amazon stock that’s gone up 50%, selling it means paying capital gains tax. Instead, wealthy investors just borrow against the stock. They get the cash they need, the investment keeps growing, and the only cost is interest, which is often a lot less than the tax bill would’ve been. Then, eventually, the assets get passed down, usually through a trust.
It’s a strategy so common it has a nickname: “buy, borrow, die.”
Robert Kiyosaki: “I make a lot of money and pay no tax”.
Real estate investors have been playing their own version of this game forever. Debt is built into the model from day one, and interest is often tax-deductible — even when properties are profitable.
“Rich Dad, Poor Dad” author Robert Kiyosaki leans all the way in. He recently revealed he has $1.2 billion in debt and loves it.
“I own hotels and 15,000 rental properties — and make a lot of money and pay no tax,” he said.
Real estate comes with perks like cash flow, appreciation, and tax breaks (depreciation, 1031 exchanges, etc.). But piling on debt isn’t risk-free. Rising rates, property expenses, or a downturn can flip leverage from helpful to painful fast.
Still, you don’t need to be a billionaire landlord to get into real estate.
Earn rental income without being a landlord
Platforms like Mogul let you buy fractional shares of high-quality rental properties, so you can earn rental income and benefit from appreciation without taking care of tenants or putting down huge amounts of money.
Their team, made up of former Goldman Sachs real estate pros, selects only top-tier homes. They target properties with strong returns, offer average IRRs near 18%, and deals often fill up quickly. Investors usually put in between $15,000 and $40,000 per property.
Each investment is tied to a real property held in its own LLC, so you own the asset, not the platform. They even use blockchain tech to keep a secure record of your stake.
Another option is First National Realty Partners (FNRP), which is focused on grocery-anchored commercial real estate — think Whole Foods, Kroger, Walmart. These are stable, essential businesses that tend to hold up even during downturns. With Triple Net leases, big tenants cover most expenses, making it appealing for accredited investors. Minimum investment: $50,000.
Not sure which route to take?
Everyone’s situation is different — income, goals, risk appetite, debt, family plans — so what works for Elon Musk, Scott Galloway, or Robert Kiyosaki might not make sense for you.
If you want expert input, you can connect with vetted financial advisors through Advisor.com and get a free consultation.
Or you can try Range, a service geared toward higher earners who want deeper tax and financial planning. They look at your entire picture — past tax filings, future projections, investment plans — and help you build a long-term wealth strategy with ongoing expert support.
Both options give you a chance to talk to professionals before making any big decisions.