Unfortunately, there is nothing you do about this situation. There is only one way to it and that is to quit. You need to understand that your boss does not work under you but works over you which is the reason why he is called the boss. He is the one who gives you your salary and other work benefits. He is the one who can make your life happy or miserable. There is no way of getting rid of him. Though, there is one thing you can try of doing. If your boss is up to no good and often indulges in unfair trade practices, you can collect a proof of it and expose it to the general public or your boss' boss. This way you might lose your job as the boss might fire you or the company might shut down if your boss is the sole proprietor of the company.
My advice would be to quit the job and look for one some place else.
My advice would be to quit the job and look for one some place else.