LogFAQs > #978864147

AngelsNAirwav3s posted...

This is all about state capital gains taxes. Washington decided to implement a 7% tax on capital gains in 2022, so no surprise people who would be subject to that tax decided to move to Florida, which has no state capital gains tax.

He is still paying federal capital gains tax, which is 20%. In 2024, he is selling ~$8.6 billion in shares. Assuming this is all capital gains (which is how this guy calculates the $600 mil), Bezos will still pay $1.72 Billion in federal taxes on this sale alone.

Not really sure you can call moving from a high tax state to a low tax state a "rigged system"

The tax system is literally rigged so the rich get richer and the poor stay poor.

Loopholes and tax break literally exist specifically for the rich and are not something the poor can take advantage of. It vastly favors the rich over the poor.

For example the bs capital gains loopholes. I know saps fall for the scam, but everyone else should be questioning the notion of someone claiming to make a small income, yet can afford mcmansions, fancy cars, and more.... while claiming to make a small income.

What I find fascinating is all of the poor people sold a scam thats its the poor who are the welfare queens.