Bezos: $82k salary (tax reasons). $230B stock loans (no taxes). Then lies.
by Lord0fTheFlags
Bezos: $82k salary (tax reasons). $230B stock loans (no taxes). Then lies.
by Lord0fTheFlags
26 Comments
Because this is how the rich do it, their mortgages, trips, luxuries, and other living expenses are what should be taxed. Loans used for personal expenses should be taxed as income.
using unrealized gains as collateral for tangible things should be counted as a realized gain…pretty simple. but the wealthy write the loopholes
We are stupid. We have let them turn us against each other.
“We must all hang together, or assuredly we shall all hang separately”
~ attributed to Ben Franklin.
Maybe we should start borrowing against 401k’s
This is why stock used as loan or collateral must be taxed immediately at the assessed value.
If you can use it to live or buy something it’s the same as receiving cash income.
If stocks can be realized enough for loans they are realized enough to tax them based on that loan.
>”He thinks we’re stupid.”
To be fair…. our history and behaviors demonstrate that “we” are.
The worse is not the billionaire who exploit the system but those embarrassed billionaires protecting them around the globe.
Is that what he meant when he said it wouldn’t change anything for the teachers in NY if they doubled his taxes?
This is what pisses me off the most about the myth/lie that honest, hard work can turn a regular Joe into Jeff Bezos II.
# “Ethical billionaire” is an oxymoron.
Nobody becomes a billionaire without violating the law or violating ethical standards.
Fuck that troll and his plastic wife. The only good thing about Bezos was he married Mackenzie Scott and she RIGHTFULLY got half and is doing good things with it.
Sharpen the pitchforks and assemble the rabble, for soon we shall dine on the flesh of Bezos and all his ilk!
He also claimed the child tax credit because of that salary
Our stupidity is fueled by apathy. No one cares about anything so they can rob you blind and you just shrug and say oh well that’s just how the world works, except it’s not.
loans for any “individual purchase” exceeding 10 million is taxed.
individual purchases include but not limited to yachts, cars, paintings, planes, and homes (no regular joe has a 10 million dollar home).
Considering the number of Americans who defend this shit, we are stupid.
Banks lend YOUR very real money to these assholes against their practically-infinite equity to fund their lifestyle. Stock buybacks keep the value inflated, they can borrow enough to prevent the share price from ever falling below their threshold to borrow against… it’s an infinite money glitch. They’ve crushed pensions and pushed everyone in to private retirement funds to tie YOUR wealth to theirs… we’re at the point that everyone now has an interest in keeping them rich, or we all risk our own wealth.
Borrowing against stocks should be considered income for tax purposes.
So he’s literally stealing from Amazon then? What a leech.
AOC is correct: it’s not possible to earn a billion dollars unless it’s through capital gains and tax strategies (loss harvesting, etc.)
Everyone talks about this, but no one mentions how loans need to be repaid and that payment must be made with taxable income.
The issue is that because his wealth is in stock, when he sells them to pay off his loans, he only pays the capital gains tax rate, which maxes out at 20% vs. a top income tax rate of 37%.
Lower tax rates in capital gains are intended to encourage investments that entail some degree of risk. And early on, Jeff Bezos did take a lot of risks and he deserves to be rewarded for doing so. However, at a certain point, it ceases to encourage investment and instead encourages hoarding equity.
Everyone should educate on buy borrow die that maintains these guys wealth. It’s a massive loophole that needs to be killed.
“They think we’re stupid.” To be fair, 70 million or so people are in fact dumb as rocks.
We are though
This is one reason I support the Fair Tax, a nationwide sales tax. They can’t avoid tax from their spending and importing has duties as well.
To make it fair you have to have a way for the first X amount of dollars be untaxed (some type of rebate maybe).
And to think, we almost had a president who understands that this is income activity and should be taxed as such.