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re: Four Demorcat tax changes with grave consequences
Posted on 9/10/20 at 12:10 pm to TheGuitarMan1
Posted on 9/10/20 at 12:10 pm to TheGuitarMan1
Sounds very democrat...wage earners are responsible for paying for asinine political pork and handouts. Conservatives aren't revealed. The conservative stance has always been show discipline, cut unnecessary spending. Those are always resisted and the solution is always more taxes...which damages the economy, increases the cost of living, increases unemployment, increases industry and jobs fleeing overseas. And that's exactly what will happen if the left gets in office and successfully enacts these things.
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Posted on 9/10/20 at 12:10 pm to David_DJS
I'm not the one who cares
Posted on 9/10/20 at 12:12 pm to wutangfinancial
quote:
I'm not the one who cares
Says the guy rushing to the defense of Jeff Bezos in a meaningless thread on taxation on an obscure politics message board.
What are you so afraid of? Seriously, back of the envelope - what has Bezos paid in federal taxes on his $250 billion fortune?
Posted on 9/10/20 at 12:12 pm to Rex Feral
quote:
1. Potential reduction in the estate tax exemption
there is no tax on this earth that pisses me off more than this
Posted on 9/10/20 at 12:15 pm to David_DJS
I don't know how much Bezos has personally paid in taxes but I would bet it is in the billions and probably more than 99.9999% of the rest of the world for the last decade.
I also wonder how much AMZN has paid in taxes since it was created (not just income taxes but all taxes). I also wonder how much taxes every employee who has ever worked for Amazon has paid in taxes. I also wonder how much ever indirect company and their employees has paid in taxes due to what Bezos has created.
You may not believe it but the rich pay the vast majority of taxes in this country. Have they paid their fair share? Well that is subjective.
Everyone complains about what % the rich pay in taxes. The issue clearly isn't the tax brackets it is all the ways that one's tax burden is decreased (deductions, credits, offset losses, etc.)
I also wonder how much AMZN has paid in taxes since it was created (not just income taxes but all taxes). I also wonder how much taxes every employee who has ever worked for Amazon has paid in taxes. I also wonder how much ever indirect company and their employees has paid in taxes due to what Bezos has created.
You may not believe it but the rich pay the vast majority of taxes in this country. Have they paid their fair share? Well that is subjective.
Everyone complains about what % the rich pay in taxes. The issue clearly isn't the tax brackets it is all the ways that one's tax burden is decreased (deductions, credits, offset losses, etc.)
Posted on 9/10/20 at 12:17 pm to David_DJS
So, you want to tax wealth?
Posted on 9/10/20 at 12:17 pm to David_DJS
quote:
What are you so afraid of? Seriously, back of the envelope - what has Bezos paid in federal taxes on his $250 billion fortune?
We dont pay taxes on our fortunes or our wealth. Income, Sales, Real Property, etc. etc.
Im sure once he liquidates those equity investments he pays cap gains just like the rest of us.
Posted on 9/10/20 at 12:19 pm to David_DJS
You sound like a child 
The only taxes you could possibly guess are his capital gains taxes on stock sales. I don't even know where you're getting the $250B from. Go google it you weirdo. What point are you even trying to make?
The only taxes you could possibly guess are his capital gains taxes on stock sales. I don't even know where you're getting the $250B from. Go google it you weirdo. What point are you even trying to make?
Posted on 9/10/20 at 12:22 pm to Sooner5030
It's not just that. He's probably taking the equity value of his Amazon stock without considering the liabilities on the balance sheet. He essentially citing a meaningless number for his wealth for shock value and it's not making the point he thinks he's making.
Posted on 9/10/20 at 12:24 pm to wutangfinancial
quote:
You sound like a child
The only taxes you could possibly guess are his capital gains taxes on stock sales. I don't even know where you're getting the $250B from. Go google it you weirdo. What point are you even trying to make?
So what's your rough estimate?
The more you call me names and argue things you cannot possibly know, the more it's clear which one of us is a child.
The $250B is pretty easy to arrive at. Bezos (what he holds and his ex) has 15% of Amazon. Amazon's market cap is about $1.65 trillion. I'm sure you can do the math from there.
So again, what's your rough estimate on what Bezos has paid on his $250 billion fortune?
Posted on 9/10/20 at 12:27 pm to wutangfinancial
quote:
It's not just that. He's probably taking the equity value of his Amazon stock without considering the liabilities on the balance sheet. He essentially citing a meaningless number for his wealth for shock value and it's not making the point he thinks he's making.
And you're the financial expert?
You don't realize a company's equity value as established by the market considers its liabilities?
Are you f'n serious?
Posted on 9/10/20 at 12:32 pm to David_DJS
And you're the moron asking me why his wealth hasn't been taxed. Sweet gotcha. Do you have a point are you going to continue crying that somebody doesn't pay enough taxes according to your feelings?
Posted on 9/10/20 at 12:33 pm to Sooner5030
quote:
We dont pay taxes on our fortunes or our wealth. Income, Sales, Real Property, etc. etc.
Exactly.
quote:
Im sure once he liquidates those equity investments he pays cap gains just like the rest of us.
This is where I'm not so sure. Not that he'd have to pay capital gains taxes should he liquidate, but I'm wondering why he'd ever liquidate if it wasn't to fund his charity (which nets the fed gov't no or little taxes) or to fund another business venture, like he did his space thing - which again, doesn't realize much in the way of net federal taxes paid.
Otherwise, why would he ever liquidate? Maybe if he saw Amazon tanking? What other reason?
Posted on 9/10/20 at 12:35 pm to David_DJS
Dude, what is your point?
Posted on 9/10/20 at 12:36 pm to wutangfinancial
quote:
And you're the moron asking me why his wealth hasn't been taxed. Sweet gotcha. Do you have a point are you going to continue crying that somebody doesn't pay enough taxes according to your feelings?
You're a riot.
You don't know how companies are valued on Wall Street.
You're afraid to show us your taxation expertise and give us a back of the envelope estimate of how much the richest man in the world has paid in taxes on his fortune.
And you're reduced to name-calling and whining by a guy asking a simple question.
Posted on 9/10/20 at 12:36 pm to David_DJS
quote:
Otherwise, why would he ever liquidate? Maybe if he saw Amazon tanking? What other reason?
If he never liquidated then he really can't use that wealth. It is essentially useless if never liquidated. What if it dropped in 1/2 tomorrow, then what? Should he get a refund for any taxes on his wealth that it seems you favor?
Posted on 9/10/20 at 12:39 pm to Janky
quote:
Dude, what is your point?
My point is a question. How much has Bezos paid in taxes on his fortune?
I don't pretend to be something I'm not. I'm not a tax expert, but I know some about business and money, and I have questions because it's not clear to me that Bezos (and the ultra-wealthy like him) really do ever pay much in taxes.
And IMO - the arguments you see in this thread are pretty instructive. And when someone trots out "Bezos creates so many jobs and wealth," it's typically an indication someone doesn't know much about how things really work.
Posted on 9/10/20 at 12:40 pm to bod312
The majority of his wealth is tied to his stock holdings in Amazon. You don’t pay taxes on stocks unless you sell them for a gain. He can hold that paper as long as he wants. Same reason my brokerage account hasn’t caused me much of a tax burden.
Posted on 9/10/20 at 12:41 pm to bod312
quote:
If he never liquidated then he really can't use that wealth. It is essentially useless if never liquidated. What if it dropped in 1/2 tomorrow, then what? Should he get a refund for any taxes on his wealth that it seems you favor?
But your premise isn't true.
The ultra-wealthy borrow against their holdings, and when you're worth tens of billions, you can borrow billions, pay 2% on that money, and never have to liquidate your wealth.
And by the way, nobody (certainly not me) is arguing the utlra-wealthy pay no taxes. I'm asking (what to me is an obvious) question - how much do they actually pay?
This post was edited on 9/10/20 at 12:44 pm
Posted on 9/10/20 at 12:42 pm to David_DJS
quote:
because it's not clear to me that Bezos (and the ultra-wealthy like him) really do ever pay much in taxes.
Who gives a frick? If they use their wealth by liquidating then they pay the same rate as you and me. Why are you so concerned about other people?
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