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Notes -
Does anyone know of a good write-up on the “Patel motel cartel”? I saw a Charles Munger clip where he says they don’t pay income tax; are they taking advantage of loopholes or doing light cash business fraud?
They keep most of the money in the business instead of paying it out to themselves as income. Most of the staff are their family members.
They live in the motel and charge as many living expenses as possible to the business.
Most anti-poverty programs are income tested instead of wealth tested. So they qualify for things like food stamps and Medicaid.
Also light cash fraud like you said.
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