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Jun 12 - BILLIONAIRES ARE NOT PAYING TAXES



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 2 months ago '20        #1
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Presidents  topics gone triple plat - Number 1 spot x1
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Jun 12 - BILLIONAIRES ARE NOT PAYING TAXES
 

 
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14 comments
 

 2 months ago '21        #2
JayMurdoch  topics gone triple plat - Number 1 spot x2
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We should all protest and do the same. If everyone does it, what can they do? Release a virus?
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 2 months ago '04        #3
Raziel 
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That's why they stay billionaires b.


Come to think of if......if all these billionaires spread out some of their wealth and they still will be billionaires..... however everyone else will have mad money as well..... probably be no workers in low paying jobs
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 2 months ago '17        #4
Naga Sadow  topics gone triple plat - Number 1 spot x20
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And republicans want us to f*ght amongst ourselves to keep their rich puppet masters safe.
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 2 months ago '17        #5
Enjoying myself  topics gone triple plat - Number 1 spot x3
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I would be doing the same thing if I was a billionaire. sh*t, I try my best to avoid paying taxes now.
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 2 months ago '17        #6
QdobaCasanova 
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 Naga Sadow said
And republicans want us to f*ght amongst ourselves to keep their rich puppet masters safe.
And you got f*g**ts out here bi*ching about poor people leaching off their tax dollars
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 2 months ago '15        #7
Bonaparte 
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What? That's crazy!






 2 months ago '17        #8
Naga Sadow  topics gone triple plat - Number 1 spot x20
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 QdobaCasanova said
And you got f*g**ts out here bi*ching about poor people leaching off their tax dollars

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 2 months ago '17        #9
dubsax 
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this is why raising taxes dont really amount to sh*t.... It only hurts the newly rich that dont know how to play defense.


Corporate tax rate is something like 24% but the effective avg paid is 7-11%


here a bit more game

most ceo's dont make that much in terms of income many just $1.
Jeff Bezos' paycheck from Amazon is like 70k per year

Here's how they get by

What most get are stocks and stock options to buy at a reduced cost.
they in turn get bank loans on the value on a portion or all of their stocks.

No income tax on personal loans, also no capital gains if the stocks are in a IRA account.

So their effective income tax rate is based on what they take home from their job.





last bit of wisdom to live by



If your back is working harder than your wallet then you are a fool.
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 2 months ago '07        #10
sleep23rd 
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umm ok...

 2 months ago '19        #11
mkooner 
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Alot of them make money from their stock / shares in their companies. When the shares go up on paper they are wealthier and made a profit but until they cash them out they don't need to pay tax on capital gains.
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 2 months ago '15        #12
majorpain1963 
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 dubsax said
this is why raising taxes dont really amount to sh*t.... It only hurts the newly rich that dont know how to play defense.


Corporate tax rate is something like 24% but the effective avg paid is 7-11%


here a bit more game

most ceo's dont make that much in terms of income many just $1.
Jeff Bezos' paycheck from Amazon is like 70k per year

Here's how they get by

What most get are stocks and stock options to buy at a reduced cost.
they in turn get bank loans on the value on a portion or all of their stocks.

No income tax on personal loans, also no capital gains if the stocks are in a IRA account.

So their effective income tax rate is based on what they take home from their job.





last bit of wisdom to live by



If your back is working harder than your wallet then you are a fool.
Bezos is not using an IRA to avoid taxes... Cmon lol

He's not being taxed on his wealth because he technically hasn't earned income on the value of his stock in Amazon.

At the same time, the company Amazon can set up to cover all expenses he has creating a giant loophole for him to skirt around income taxes.

 2 months ago '17        #13
dubsax 
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 majorpain1963 said
Bezos is not using an IRA to avoid taxes... Cmon lol



Amazon.com Inc. (AMZN) Chief Executive Jeff Bezos base salary for 2020 remained at $81,840,





He's not being taxed on his wealth because he technically hasn't earned income on the value of his stock in Amazon.

At the same time, the company Amazon can set up to cover all expenses he has creating a giant loophole for him to skirt around income taxes.
bezos has received a paycheck every year he worked at amazon....IRA's are the best way to avoid taxes...Owning stocks in your IRA is the only way to avoid capital gains tax while trading in the stock market.....Its distributed as a retirement vestment which puts in a different category when bookkeeping



Amazon doesnt need to cover his expenses and it would be foolish to do so....

The game happens exactly how I laid it out






lastly its the best way to store your money fdic wont cover over 250k or 350k for credit unions, you store your wealth in stock better yet an IRA, he gets around the funding limit because they are valued based on the warrants when he signed his contract. so publicly they are worth over $1000 a pop on the books they are only charged at what the stock price is worth when he founded the company. They sit and earn vesting interest

 2 months ago '17        #14
DaQCKing  topics gone triple plat - Number 1 spot x2
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 Raziel said
That's why they stay billionaires b.


Come to think of if......if all these billionaires spread out some of their wealth and they still will be billionaires..... however everyone else will have mad money as well..... probably be no workers in low paying jobs
This is pretty much the ideology behind trickle down economics but of course we know that sh*t don't work
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 2 months ago '15        #15
majorpain1963 
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 dubsax said
bezos has received a paycheck every year he worked at amazon....IRA's are the best way to avoid taxes...Owning stocks in your IRA is the only way to avoid capital gains tax while trading in the stock market.....Its distributed as a retirement vestment which puts in a different category when bookkeeping



Amazon doesnt need to cover his expenses and it would be foolish to do so....

The game happens exactly how I laid it out






lastly its the best way to store your money fdic wont cover over 250k or 350k for credit unions, you store your wealth in stock better yet an IRA, he gets around the funding limit because they are valued based on the warrants when he signed his contract. so publicly they are worth over $1000 a pop on the books they are only charged at what the stock price is worth when he founded the company. They sit and earn vesting interest
Amazon and Microsoft both utilize private property and transportation like jets. The executives at these companies use them regularly for their own needs and I know this for a fact.

Part of his yearly income is new stock as well and the cost-basis is going to be current. Bezos and others sell stock regularly and they pay taxes on the realized gain. Their net tax liability comes down to harvesting other "losses". I don't see how an IRA is factoring in.



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