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Posted on 6/9/21 at 9:16 am to Kujo
What’s the name of his accountant?
Posted on 6/9/21 at 9:23 am to Mo Jeaux
quote:
It's weird how so many in this thread likely also post on the poli board and bitch about our government, but then turn around and act like nothing's wrong with our tax system. As if it's some static mandate chiseled on another one of Moses' tablets with an innate sense of fairness handed down by god.
who the frick said nothing wrong with our tax system? Nobody said that.
#1 you cant tax unrealized gains, if you believe they should be taxed well than you are too stupid to argue with and have no clue how investing works.
#2 everyone with any clue knows our tax systems sucks dick. should be the fair tax or at worst a real flat tax.
#3 everyone with a clue knows Bezos paid other taxes, much more than you or I.
quote:
Meh. I have retainers with an accountant, a tax attorney and a trusts and estates attorney. Don't worry about me. But by all means, please continue to enjoy those who make the rules pissing on you and then convincing yourself that it's just raining.
#4 you are full of shite.
Posted on 6/9/21 at 9:25 am to Mo Jeaux
Shut up cuck.
See, I can throw around stupid fricking catch phrases too!
See, I can throw around stupid fricking catch phrases too!
Posted on 6/9/21 at 9:26 am to lsu777
quote:
should be the fair tax or at worst a real flat tax.
Horrible idea. Infinitely more regressive than the system we have now.
quote:
everyone with a clue knows Bezos paid other taxes, much more than you or I.
That doesn't exempt him from paying income tax. I'm not some bleeding heart liberal, certainly not in the tax space, but and these ultra wealthy dealing in mostly unrealized gains is very tricky.
No matter how "capitalistic" you are there's no way you can think the increasing wealth gap is good for this country if you have any sense.
Posted on 6/9/21 at 9:28 am to Centinel
quote:
I can throw around stupid fricking catch phrases too!
We know. Believe me, we know.
Posted on 6/9/21 at 9:29 am to Mo Jeaux
quote:
What a load of crap. Exactly who on the poli board "act like nothing's wrong with our tax system." Never seen it.
You're blind then, baw.
Don't think so.
You have one group that wants certain people taxed more so that the Fed Gov can continue to take care of them from cradle to grave.
Then you have another group who wants as little tax bill from the Fed Gov as possible. They feel the central planners in DC have way too much power.
These people who think "nothing is wrong with the tax system" don't exist.
Posted on 6/9/21 at 9:29 am to lsu777
quote:
you are full of shite.
How so?
Posted on 6/9/21 at 9:30 am to Mo Jeaux
Simp cuck.
Posted on 6/9/21 at 9:43 am to lsu777
quote:
you cant tax unrealized gains, if you believe they should be taxed well than you are too stupid to argue with and have no clue how investing works.
This is such a dumb talking point. This is why I find this place funny. It's dangerous too, because it's true only in a sense, but then false when you start delving into things.
Yes, for shares of a corporation, or other entity that has elected to be treated as a corporation for U.S. federal income tax purposes, you generally will not be taxed with respect to their "unrealized gains".
Try owning an interest in a limited partnership or other entity treated as a partnership, which earns profits, whereby you have a "distributive share", but you don't actually receive any distribution with respect to that distributive share. Then tell the IRS that you as an individual can't be taxed on those "unrealized gains".
Also, try owning shares of a controlled foreign corporation or a passive foreign investment company. Try to tell the IRS that they can't impose additional taxes with respect to those interests.
Or, alternatively, keep thinking that you know so much about how our tax system works and telling others they're full of shite.
It's just funny that you're able to so easily spot the bullshite that stems from one side (e.g., the stupid article posted by the OP), but then so blind to the bullshite from the other side.
Posted on 6/9/21 at 9:44 am to dgnx6
quote:
But Bezos has never raised his salary at the company. It's not like he'd be paying a lot on his actual wages. Probably lower bracket than Biden.
True, but I think it was early last year that he cashed out about 4.5 billion on stocks. I don’t think people are going to feel a lot better when they find out he only payed less than 20% taxes on that.
Posted on 6/9/21 at 9:53 am to Mo Jeaux
quote:
We know. Believe me, we know.
No we don’t know, wtf you talking about?
Posted on 6/9/21 at 10:00 am to TigerMeister
quote:
True, but I think it was early last year that he cashed out about 4.5 billion on stocks. I don’t think people are going to feel a lot better when they find out he only payed less than 20% taxes on that.
The plan was probably to have any taxes offset by the Cantwell Act and NASA money headed to Blue Origin.
Posted on 6/9/21 at 10:06 am to Kujo
Did they do anything illegal, or just take advantage of legal tax breaks? If it was all legal, I could not care less and say good for them.
Posted on 6/9/21 at 10:17 am to fastedLSU
quote:
This will never change. Could care less, I just worry about myself.
You should care.
Look I'm not a soak the rich kind of guy. And we can take all the money from all the billionaires and it may satisfy the federal government for one month. We have a spending problem, not a revenue problem.
I'm OK with a progressive tax, and I'm OK with a flat tax. I'm not OK with Bezos paying less than me.
This post was edited on 6/9/21 at 10:19 am
Posted on 6/9/21 at 10:25 am to 9Fiddy
quote:
If it was all legal, I could not care less and say good for them.
Which is retarded. You can realize someone played by the rules while simultaneously realizing the rules are stupid
Posted on 6/9/21 at 10:29 am to Kujo
This should be used in an argument for a federal sales tax to replace income taxes. No more need for a bloated IRS. No more illegals and other cash workers avoiding paying taxes. No more billionaires being able to exploit tax loopholes because they have the best accountants money can buy.
Posted on 6/9/21 at 10:30 am to Tiger Prawn
quote:
This should be used in an argument for a federal sales tax to replace income taxes
Picks way more winners and losers unless you end seemingly all exemptions.
And its multitudes more regressive
This post was edited on 6/9/21 at 10:31 am
Posted on 6/9/21 at 10:34 am to Kujo
Good for him.
A black presidential candidate proposed a flat tax that could get rid of 90% of the IRS and was considered a bigot.
Props to the lawyers and law makers that keep the CPAs, IRS, politicians and billionaires loop holing the shite outta the systems.
A black presidential candidate proposed a flat tax that could get rid of 90% of the IRS and was considered a bigot.
Props to the lawyers and law makers that keep the CPAs, IRS, politicians and billionaires loop holing the shite outta the systems.
Posted on 6/9/21 at 10:34 am to Sus-Scrofa
quote:
Tax laws are written by career politicians like Biden.
Rich people like Bezos and Trump hire accountants and lawyers to figure out the shitty laws and make sure they pay the smallest amount possible. That’s their job. No accountant sets out to make sure you pay more than you are required.
If they do their job and it comes out to zero, good for you! It’s not a taxpayer’s job to pay a different amount because people like Biden wrote a shitty tax code.
Is anyone arguing differently? Lot of people getting on here reminding us that none of this is illegal. Well, no shite. Of course they're taking advantage of tax laws and loopholes. Why wouldn't they?
The problem is that there's absolutely no pressure to change or amend these laws. A guy makes $500k/yr and, for some reason, thinks his interests and the interests of these billionaires somehow coincide. They don't, at all.
I won't start pointing fingers at politicians because I don't have that many fingers, nor is this really a partisan issue. We're headed down a dangerous road by allowing this to continue.
When a guy like Bezos pays no personal income tax and his company, Amazon, pays no income tax, there's a problem. An international behemoth of a business and they don't drop a dime into the collection pot to fund our military, infrastructure, social safety nets, etc.?
Or look at companies like Walmart. The founder's families are all billionaires. Walmart pays such paltry wages and manipulates schedules to keep employees at part-time to avoid paying benefits packages. Those employees then turn around and collect food stamps, tax credits, etc. to make a living. So we're LITERALLY subsidizing Walmart's ability to underpay workers so the stockholders can make mo' money.
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