What is black tax?

[Numero Uno]

What is the meaning of black tax?

 

[Lenard]

Black tax is when you earn money and then instead of investing that money for yourself you end up taking responsibility to cater to every need of your extended family.

 

[Numero Uno]

Black tax is when you earn money and then instead of investing that money for yourself you end up taking responsibility to cater to every need of your extended family.

So how do people avoid black tax and what is the impact of black tax?

 

[Lenard]

So how do people avoid black tax and what is the impact of black tax?

It's quite tricky to avoid black tax since extended family members will hate you for not sharing the fruits of your success with them.The main impact of black tax follows the notion of entitlement which extended family members impose on you. Therefore, your success becomes their success so as to speak.

 

[Numero Uno]

In the long run isn't it necessary to sometimes cut off freeloaders so that you can deal with the issues pertaining to black tax?

 

[Lenard]

In the long run isn't it necessary to sometimes cut off freeloaders so that you can deal with the issues pertaining to black tax?

It's easier said than done because some members of your extended family can be utterly lazy to the point were they can't achieve financial independence for themselves.

 

[Numero Uno]

It's easier said than done because some members of your extended family can be utterly lazy to the point were they can't achieve financial independence for themselves.

Right, I see.