Taxes and the Mega-Wealthy

#76
#76
McDad said:
There are trips and things I run through my corporation. If I can legitimately mix business with pleasure, I will.
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You’re evil. Depriving poor children from your tax dollars, the shame!
 
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#78
#78
McDad said:
This report linked in this thread was discussed on the radio?
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I didn't read this article but the host brought up an article where tax records have been revealed of the weathiest people. Michael Delgiorno radio show 99.7FM Nashville.
 
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#79
#79
volinbham said:
it matters because the terms have legal meaning - if said home sold (realized wealth) Bezos wouldn't be the one realizing it. Using someone else's asset is not unrealized wealth for the user whether said use is right or wrong.

I get the fair/not fair but part of McDad's point was whether the original article is an accurate representation of tax rate giving the shifting of terms between income and wealth.
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I already bashed the original article. We're well past this. I got that out of the way with my first post. The whole time I've been talking about fairness. What's legal, and the semantics surrounding the term "realized", do not matter to this question.
 
#80
#80
Isn't there an argument to be made that the average Joe's are the one's making up for the billionaire's lack of tax payment? Seems like the average Joe is bearing the burden for the billionaire's tax. They pay what they're supposed to they're still billionaires, but the average Joe has more money to spend, more products are bought, more money is made.
 
#81
#81
Tyler Durden said:
Poor mega billionaires. Someone wrote an unflattering article about them.

View attachment 372696
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Oh they’ll be fine. I just think it’s great to see how companies can rationalize illegal activity (where did they get the information from, somebody broke the law) and how clueless sheep like yourself are willing to justify it 🤡

By any means necessary I guess amirite? What goes around comes around.
 
#82
#82
McDad said:
My favorite are the Billionaires who lament their secretary pays a higher rate than they do (looking at you Mr. Warren B). If it is so troubling to your conscience, simply have your compensation structure changed to all payroll and no dividends. Then we can compare your rates.
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They are always free to donate more to clear their guilty conscience🤷‍♂️

Again though somebody broke the law to get this information and we are just glossing over that.
 
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#83
#83
Tyler Durden said:
Isn't there an argument to be made that the average Joe's are the one's making up for the billionaire's lack of tax payment? Seems like the average Joe is bearing the burden for the billionaire's tax. They pay what they're supposed to they're still billionaires, but the average Joe has more money to spend, more products are bought, more money is made.
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per the tweet graphic Bezos paid nearly 1 billion in taxes - how many average Joe's tax bills would it take to cover that?

nearly 50% of tax payers have zero or negative Federal income tax liability - define "average Joe"
 
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#84
#84
n_huffhines said:
I already bashed the original article. We're well past this. I got that out of the way with my first post. The whole time I've been talking about fairness. What's legal, and the semantics surrounding the term "realized", do not matter to this question.
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What’s not fair about using the tax laws to your advantage. Just because not everyone has the ability to capitalize on them doesn’t mean everyone doesn’t have the opportunity.
 
#85
#85
Tyler Durden said:
Isn't there an argument to be made that the average Joe's are the one's making up for the billionaire's lack of tax payment? Seems like the average Joe is bearing the burden for the billionaire's tax. They pay what they're supposed to they're still billionaires, but the average Joe has more money to spend, more products are bought, more money is made.
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No, there is no argument to be made.
 
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#86
#86
volinbham said:
per the tweet graphic Bezos paid nearly 1 billion in taxes - how many average Joe's tax bills would it take to cover that?

nearly 50% of tax payers have zero or negative Federal income tax liability - define "average Joe"
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I think McDaddio nailed it. Equal burden across the board. $$ spent divided by voting age citizens. Pony up!
 
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#87
#87
NorthDallas40 said:
How fortunate for them that they are able to easily rationalize why the “good” realized by their actions outweighs the privacy rights of the affected individuals 🤡
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1st Amendment - freedom of the press.

These guys are all public figures so they are fair game when it comes to journalists publishing information about them. Nothing in this is malicious and privacy isn't something to be concerned about if you're a public figure.

Don't like it? Give away your money, step down from your current job, delete your social media, and stop appearing on 60 Minutes.
 
#88
#88
Tyler Durden said:
1st Amendment - freedom of the press.

These guys are all public figures so they are fair game when it comes to journalists publishing information about them. Nothing in this is malicious and privacy isn't something to be concerned about if you're a public figure.

Don't like it? Give away your money, step down from your current job, delete your social media, and stop appearing on 60 Minutes.
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Freedom of the press doesn’t give way to breaking laws on protected personal data used for tax calculations you rube. And no they are not public figures. They don’t hold office. Jees…

And thanks for proving “by any means necessary” 🤡
 
#89
#89
Bezos probably has a fancy office at AMZN’s headquarters. It might not be fair, but everybody doesn’t have to pee in a trough. And the government doesn’t get to tax you for it.
 
#90
#90
volinbham said:
per the tweet graphic Bezos paid nearly 1 billion in taxes - how many average Joe's tax bills would it take to cover that?

nearly 50% of tax payers have zero or negative Federal income tax liability - define "average Joe"
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Individuals that make less than $200k a year or households that make less than $400k.
 
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#91
#91
Thunder Good-Oil said:
Bezos probably has a fancy office at AMZN’s headquarters. It might not be fair, but everybody doesn’t have to pee in a trough. And the government doesn’t get to tax you for it.
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Fair is too subjective of a word.
 
#92
#92
NorthDallas40 said:
Freedom of the press doesn’t give way to breaking laws on protected personal data used for tax calculations you rube. And no they are not public figures. They don’t hold office. Jees…

And thanks for proving “by any means necessary” 🤡
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Ok cool, maybe you can link the US Supreme Court decision that says so.
 
#94
#94
hog88 said:
What’s not fair about using the tax laws to your advantage. Just because not everyone has the ability to capitalize on them doesn’t mean everyone doesn’t have the opportunity.
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Just because everybody has the same legal opportunity doesn't make it fair.

Don't you agree a flat tax rate would be more fair than our current system?
 
#95
#95
NorthDallas40 said:
Freedom of the press doesn’t give way to breaking laws on protected personal data used for tax calculations you rube. And no they are not public figures. They don’t hold office. Jees…

And thanks for proving “by any means necessary” 🤡
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Yes they are. Public figures aren't limited to elected officials.
 
#99
#99
Tyler Durden said:
Individuals that make less than $200k a year or households that make less than $400k.
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interesting - median income is just under 32K and average (which inflates the number) is 68K - your definition of average includes just at 90% of households.

if you take the center of the distribution it's households of 50-75K which also happens to be right where Federal tax liability goes to zero.

IOW - the Average Joe isn't paying the taxes that Bezo's should have paid.
 
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#100
#100
n_huffhines said:
Just because everybody has the same legal opportunity doesn't make it fair.

Don't you agree a flat tax rate would be more fair than our current system?
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IMO if it’s available to everyone it is “fair”.

As to the flat tax, there are several models of it I’ve seen and some are better than others. Personally the only “fair” tax is some form of a head tax.
 
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