Economy Left wing billionaire Jeff Bezos claimed $4,000 intended for families earning less than $100,000

chardog said:
he never cashed out, and that's just the way it is. if and when he does, he'll be taxed accordingly.... and it'll be at 28-35%? I cant recall the top cap gains tax over a million.
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There is no reason for him to ever sell his stocks. He will borrow against them instead so that he never has to pay income tax.
 
fedorthegoat777 said:
Like also.
Why not just eliminate the IRS and thr tax codes. Pay 20% on what you buy. That is the government's income, they have to make due with it.
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A flat rate seems like a good idea but there are complications that were explained to me but I can't remember. It should probably be more than 20% though. It's going to be expensive keeping up with China and our other adversaries.
 
How is this guy “left wing?”
 
He must have a team of accountants ticking boxes for him so I doubt he had anything to do with it. If anything you should be holding the system accountable for having loopholes for billionaires to take advantage of.
 
ultramanhyata said:
You're the kind of fellow who thinks that if the CEO of Amazon (and richest man in the world) sets his own salary at $1 a year then society (and the IRS) must consider that official and his child tax credit deductions legitimate.

Keep licking those boots, bro.
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I'm the kind of fellow who understands the difference between assets and income and can identify an OP that whines about taxes but lacks key detail.

If not being stupid is bootlicking then so be it.
 
second sight said:
I get they drive their 747's through the loop holes made for them. here's bezo's numbers. Buffett is in this leak as well always running his mouth about raising taxes on the rich

Consider Bezos’ 2007, one of the years he paid zero in federal income taxes. Amazon’s stock more than doubled. Bezos’ fortune leapt $3.8 billion, according to Forbes, whose wealth estimates are widely cited. How did a person enjoying that sort of wealth explosion end up paying no income tax?


Jeff Bezos
Amazon.com Inc.
2014-2018 Wealth Growth:
$99.0B
Total Income Reported:
$4.22B (4.26% of wealth)
Total Taxes Paid:
$973M (0.98% of wealth)
In that year, Bezos, who filed his taxes jointly with his then-wife, MacKenzie Scott, reported a paltry (for him) $46 million in income, largely from interest and dividend payments on outside investments. He was able to offset every penny he earned with losses from side investments and various deductions, like interest expenses on debts and the vague catchall category of “other expenses.”

In 2011, a year in which his wealth held roughly steady at $18 billion, Bezos filed a tax return reporting he lost money — his income that year was more than offset by investment losses. What’s more, because, according to the tax law, he made so little, he even claimed and received a $4,000 tax credit for his children.

His tax avoidance is even more striking if you examine 2006 to 2018, a period for which ProPublica has complete data. Bezos’ wealth increased by $127 billion, according to Forbes, but he reported a total of $6.5 billion in income. The $1.4 billion he paid in personal federal taxes is a massive number — yet it amounts to a 1.1% true tax rate on the rise in his fortune.
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Find the book Economics and Taxes For Dummies.
Then ask the librarian if they have an actual dumbed down version of this for real dummies. It should be the one all marked in crayon and stickers.

Real eyes realize the difference between realized gains and paper gains.
Meaning, you only get taxed when you sell those stock and not when it fluctuates up n down, numnuts.
 
White Whale said:
When Jeff Bezos was worth $18 billion he took a tax credit for his children in 2011 and paid nothing in federal income taxes.

Why don’t the left never pay their fair share?


https://www.businessinsider.com/jeff-bezos-claimed-tax-credit-for-children-propublica-2021-6?amp
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Yeah, I'm sure that right-wing billionaires love to pay their fair share too. Bezos is a union-busting oligarch. Center-right on everything except a few social issues. "The left" LOL. As if the average leftist is like Bezos. And nice double negative, by the way. Fucking retarded take.
 
Jackie Blue said:
Yeah, I'm sure that right-wing billionaires love to pay their fair share too. Bezos is a union-busting oligarch. Center-right on everything except a few social issues. "The left" LOL. As if the average leftist is like Bezos. And nice double negative, by the way. Fucking retarded take.
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The same cucks that applauded how smart Trump was for only paying $600 are now crying over Bezos.

The same Jeff Bezos that progressives fucking HATE.
 


This should be required in any Bezo thread imo
 
uppercutbus said:
Jeff Bezos went before Congress to hail the "much-needed race reckoning" America was going through and hired Robin DiAngelo to teach employees about "white privilege" and "white fragility." He has a long history of being a leftist and paper he owns has lots of examples, but people are incredulous at that accusation and suggest he is a right winger.
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This just further stamps home the point I made the other day. If you are left on a lot of issues, but right on others, you get labeled "partisan X" by whatever side doesn't like your take on the subject you are discussing<45>
 
Should be jailed and his company seized in my opinion this dude is a criminal
 
second sight said:
I get they drive their 747's through the loop holes made for them. here's bezo's numbers. Buffett is in this leak as well always running his mouth about raising taxes on the rich

Consider Bezos’ 2007, one of the years he paid zero in federal income taxes. Amazon’s stock more than doubled. Bezos’ fortune leapt $3.8 billion, according to Forbes, whose wealth estimates are widely cited. How did a person enjoying that sort of wealth explosion end up paying no income tax?


Jeff Bezos
Amazon.com Inc.
2014-2018 Wealth Growth:
$99.0B
Total Income Reported:
$4.22B (4.26% of wealth)
Total Taxes Paid:
$973M (0.98% of wealth)
In that year, Bezos, who filed his taxes jointly with his then-wife, MacKenzie Scott, reported a paltry (for him) $46 million in income, largely from interest and dividend payments on outside investments. He was able to offset every penny he earned with losses from side investments and various deductions, like interest expenses on debts and the vague catchall category of “other expenses.”

In 2011, a year in which his wealth held roughly steady at $18 billion, Bezos filed a tax return reporting he lost money — his income that year was more than offset by investment losses. What’s more, because, according to the tax law, he made so little, he even claimed and received a $4,000 tax credit for his children.

His tax avoidance is even more striking if you examine 2006 to 2018, a period for which ProPublica has complete data. Bezos’ wealth increased by $127 billion, according to Forbes, but he reported a total of $6.5 billion in income. The $1.4 billion he paid in personal federal taxes is a massive number — yet it amounts to a 1.1% true tax rate on the rise in his fortune.
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Ugh. While it makes me mad to hear all this, it ultimately is not Jeff’s fault. Voters continue to vote in favor of the ultra rich when it comes to stuff like this. Jeff is just benefiting from our own stupid voting.
 
ITT: All the lefties that bitch about not taxing the rich more show up to defend Jeff Bezos not paying his taxes.
 
Hadron90 said:
ITT: All the lefties that bitch about not taxing the rich more show up to defend Jeff Bezos not paying his taxes.
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They also claim he is not left wing when he owns Washington post, gives to BLM and other left wing organizations.
 
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