Current Events > Jeff Bezos will move to Florida, cash out billions and then pay less tax than us

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NatsuSama 02/15/24 5:55:23 PM #51:	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. --- WAAAH, I CAN'T BEAT THIS GUY WITH HIS TACTICS, I'M GONNA CALL IT SPAM AND CONDEMN HIM FOR USING IT <cite>NatsuSama posted [p:978864147] in Jeff Bezos... [t:80697332]...</cite> <quote>AngelsNAirwav3s posted... </cite><quote>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"</quote>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. </quote> ... Copied to Clipboard!
action52 02/15/24 6:31:04 PM #52:	AngelsNAirwav3s posted... He is still paying federal capital gains tax, which is 20%. This is one of the ways that the system is rigged. It is absolute bullshit that you can escape the graduated tax system just by getting your money through things you own becoming more valuable rather than actually working for a living. The USA tax system is supposed to tax the rich higher, so they pay up to 50% depending on how wealthy they are. But with capital gains, that goes down to 20% and even worse, it's a flat rate. So someone like Bezos can get a 60% discount on their taxes. Meanwhile middle class people get way less of a tax break, and low income people get no tax break at all. --- "It's tootsin' time." Dustin Hoffman, Tootsie, 1982 <cite>action52 posted [p:978864796] in Jeff Bezos... [t:80697332]...</cite> <quote>AngelsNAirwav3s posted... </cite><quote>He is still paying federal capital gains tax, which is 20%.</quote>This is one of the ways that the system is rigged. It is absolute bullshit that you can escape the graduated tax system just by getting your money through things you own becoming more valuable rather than actually working for a living. The USA tax system is supposed to tax the rich higher, so they pay up to 50% depending on how wealthy they are. But with capital gains, that goes down to 20% and even worse, it's a flat rate. So someone like Bezos can get a 60% discount on their taxes. Meanwhile middle class people get way less of a tax break, and low income people get no tax break at all. </quote> ... Copied to Clipboard!
creativerealms 02/15/24 6:43:55 PM #53:	Haejin posted... So Jeff made all of his money in Seattle the past couple of decades then when he wants to get cruise around with his luxury yacht and new wife he's not going to pay his dues he's just going to move out and pay anything back... awesome argument from you bro And it's not like he couldn't still do that and pay his dues. No he just doesn't want to. --- "Intelligence has no place in Politics" Londo, (Babylon Five) Best new show of 2023, One Piece live action. <cite>creativerealms posted [p:978865075] in Jeff Bezos... [t:80697332]...</cite> <quote>Haejin posted... </cite><quote>So Jeff made all of his money in Seattle the past couple of decades then when he wants to get cruise around with his luxury yacht and new wife he's not going to pay his dues he's just going to move out and pay anything back... awesome argument from you bro</quote>And it's not like he couldn't still do that and pay his dues. No he just doesn't want to. </quote> ... Copied to Clipboard!
AngelsNAirwav3s 02/15/24 6:47:27 PM #54:	action52 posted... This is one of the ways that the system is rigged. It is absolute bullshit that you can escape the graduated tax system just by getting your money through things you own becoming more valuable rather than actually working for a living. The USA tax system is supposed to tax the rich higher, so they pay up to 50% depending on how wealthy they are. But with capital gains, that goes down to 20% and even worse, it's a flat rate. So someone like Bezos can get a 60% discount on their taxes. Meanwhile middle class people get way less of a tax break, and low income people get no tax break at all. Its not a flat rate: https://gamefaqs.gamespot.com/a/forum/f/ff795f07.png Short term capital gains (if buy/sell stock within a year) then you are taxed at the same rate as your regular income: https://gamefaqs.gamespot.com/a/forum/4/48d49a37.png --- Hello world! <cite>AngelsNAirwav3s posted [p:978865146] in Jeff Bezos... [t:80697332]...</cite> <quote>action52 posted... </cite><quote>This is one of the ways that the system is rigged. It is absolute bullshit that you can escape the graduated tax system just by getting your money through things you own becoming more valuable rather than actually working for a living. The USA tax system is supposed to tax the rich higher, so they pay up to 50% depending on how wealthy they are. But with capital gains, that goes down to 20% and even worse, it's a flat rate. So someone like Bezos can get a 60% discount on their taxes. Meanwhile middle class people get way less of a tax break, and low income people get no tax break at all.</quote>Its not a flat rate:https://gamefaqs.gamespot.com/a/forum/f/ff795f07.pngShort term capital gains (if buy/sell stock within a year) then you are taxed at the same rate as your regular income:https://gamefaqs.gamespot.com/a/forum/4/48d49a37.png </quote> ... Copied to Clipboard!
EPR-radar 02/15/24 6:48:29 PM #55:	A 20% top tax rate for capital gains is absurdly low. --- "The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command." -- 1984 <cite>EPR-radar posted [p:978865167] in Jeff Bezos... [t:80697332]...</cite> <quote>A 20% top tax rate for capital gains is absurdly low. </quote> ... Copied to Clipboard!
DarthAragorn 02/15/24 7:13:02 PM #56:	emblem-man posted... There is a federal capital gains tax that will impact him Cool What percentage is that federal capital gains tax at again --- Asus ROG Strix Z790-E \| Core i9-13900k \| 64GB DDR5-6000 \| RTX 4090 24GB Dell AW3423DW QD-OLED - 1440p Ultrawide, 175hz, GSync <cite>DarthAragorn posted [p:978865655] in Jeff Bezos... [t:80697332]...</cite> <quote>emblem-man posted... </cite><quote>There is a federal capital gains tax that will impact him</quote>CoolWhat percentage is that federal capital gains tax at again </quote> ... Copied to Clipboard!
DarthAragorn 02/15/24 7:15:39 PM #57:	EPR-radar posted... A 20% top tax rate for capital gains is absurdly low. To illustrate that, if you are single and make more than (roughly) *$44k a year* that additional income is taxed at a higher rate than the literal *billions* of dollars Bezos received in capital gains. --- Asus ROG Strix Z790-E \| Core i9-13900k \| 64GB DDR5-6000 \| RTX 4090 24GB Dell AW3423DW QD-OLED - 1440p Ultrawide, 175hz, GSync <cite>DarthAragorn posted [p:978865702] in Jeff Bezos... [t:80697332]...</cite> <quote>EPR-radar posted... </cite><quote>A 20% top tax rate for capital gains is absurdly low.</quote>To illustrate that, if you are single and make more than (roughly) $44k a year that additional income is taxed at a higher rate than the literal billions of dollars Bezos received in capital gains. </quote> ... Copied to Clipboard!
Mibahlzitch 02/15/24 7:17:02 PM #58:	Man I'd love one hour of Bezos money --- It's all true. <cite>Mibahlzitch posted [p:978865727] in Jeff Bezos... [t:80697332]...</cite> <quote>Man I'd love one hour of Bezos money </quote> ... Copied to Clipboard!
Aztex 02/15/24 7:32:00 PM #59:	If he was smart he would to Puerto Rico instead --- Hot Girls Message Board https://gamefaqs.gamespot.com/boards/1291-hot-girls <cite>Aztex posted [p:978865958] in Jeff Bezos... [t:80697332]...</cite> <quote>If he was smart he would to Puerto Rico instead </quote> ... Copied to Clipboard!
emblem-man 02/15/24 7:32:52 PM #60:	DarthAragorn posted... Cool What percentage is that federal capital gains tax at again Don't get me wrong. I think it should be higher than income tax. Just wanted to correct the guy there --- http://avatar.xboxlive.com/avatar/emblem%20boy/avatar-body.png haters gonna hate <cite>emblem-man posted [p:978865973] in Jeff Bezos... [t:80697332]...</cite> <quote>DarthAragorn posted... </cite><quote>CoolWhat percentage is that federal capital gains tax at again</quote>Don't get me wrong. I think it should be higher than income tax.Just wanted to correct the guy there </quote> ... Copied to Clipboard!
Solid_Snake07 02/15/24 7:38:01 PM #61:	If Florida doesnt want to impose a state capital gains/income tax thats their business. Hes not dodging any tax that any other Florida resident is subject to. --- "People incapable of guilt usually do have a good time" -Detective Rust Cohle <cite>Solid_Snake07 posted [p:978866055] in Jeff Bezos... [t:80697332]...</cite> <quote>If Florida doesnt want to impose a state capital gains/income tax thats their business. Hes not dodging any tax that any other Florida resident is subject to. </quote> ... Copied to Clipboard!
SaikyoStyle 02/15/24 7:39:50 PM #62:	SaikyoStyle posted... So much simping for other peoples profits --- Taxes, death, and trouble. Brunt/Gaila 2024. Make Ferenginar Great Again! <cite>SaikyoStyle posted [p:978866081] in Jeff Bezos... [t:80697332]...</cite> <quote>SaikyoStyle posted... </cite><quote>So much simping for other peoples profits</quote> </quote> ... Copied to Clipboard!
Heineken14 02/15/24 7:43:59 PM #63:	https://imgur.com/VNFRZsh.jpeg --- Rage is a hell of an anesthetic. <cite>Heineken14 posted [p:978866144] in Jeff Bezos... [t:80697332]...</cite> <quote>https://imgur.com/VNFRZsh.jpeg </quote> ... Copied to Clipboard!
action52 02/15/24 8:40:16 PM #64:	emblem-man posted... Don't get me wrong. I think it should be higher than income tax. Just wanted to correct the guy there You're right. I'm pretty sure it used to be a flat tax but they keep changing the system. Anyway even if it's not a flat tax the point is that it allows wealthy people to avoid paying what everyone else does just because they're not working for a living. Also calling it "long term investing" after one year is such a crock of shit. One year is not long term, it's not even medium term. If the government is going to give a tax break for long term investing, that's not a bad idea, but it should be for actual long term investing. Like ten years or more. And the tax break shouldn't be so big. Also I would like it better if capital gains got charged at a higher rate normally, and long term investing would just bring it down to the same rate as everyone else. --- "It's tootsin' time." Dustin Hoffman, Tootsie, 1982 <cite>action52 posted [p:978867001] in Jeff Bezos... [t:80697332]...</cite> <quote>emblem-man posted... </cite><quote>Don't get me wrong. I think it should be higher than income tax.Just wanted to correct the guy there</quote>You're right. I'm pretty sure it used to be a flat tax but they keep changing the system. Anyway even if it's not a flat tax the point is that it allows wealthy people to avoid paying what everyone else does just because they're not working for a living. Also calling it "long term investing" after one year is such a crock of shit. One year is not long term, it's not even medium term. If the government is going to give a tax break for long term investing, that's not a bad idea, but it should be for actual long term investing. Like ten years or more. And the tax break shouldn't be so big. Also I would like it better if capital gains got charged at a higher rate normally, and long term investing would just bring it down to the same rate as everyone else. </quote> ... Copied to Clipboard!
Dark_Arbron 02/15/24 8:43:51 PM #65:	So who marked post 6 and which conservative mod deleted it? Maybe it's time for a sweep of the mods who can't do their jobs properly. --- Calling out stupid or reckless decision-making is not "victim blaming." <cite>Dark_Arbron posted [p:978867049] in Jeff Bezos... [t:80697332]...</cite> <quote>So who marked post 6 and which conservative mod deleted it? Maybe it's time for a sweep of the mods who can't do their jobs properly. </quote> ... Copied to Clipboard!
Jiek_Fafn 02/15/24 8:55:51 PM #66:	On one hand, he should definitely pay his fair share in taxes. Which he's not. On the other hand, I'm not sure I'd want that money to go to Florida --- I don't believe in belts. There should be no ranking system for toughness. <cite>Jiek_Fafn posted [p:978867213] in Jeff Bezos... [t:80697332]...</cite> <quote>On one hand, he should definitely pay his fair share in taxes. Which he's not.On the other hand, I'm not sure I'd want that money to go to Florida </quote> ... Copied to Clipboard!
action52 02/15/24 10:27:38 PM #67:	Dark_Arbron posted... So who marked post 6 and which conservative mod deleted it? Maybe it's time for a sweep of the mods who can't do their jobs properly. YoU wErE mAkInG dEaTh ThReAtS --- "It's tootsin' time." Dustin Hoffman, Tootsie, 1982 <cite>action52 posted [p:978868508] in Jeff Bezos... [t:80697332]...</cite> <quote>Dark_Arbron posted... </cite><quote>So who marked post 6 and which conservative mod deleted it? Maybe it's time for a sweep of the mods who can't do their jobs properly.</quote>YoU wErE mAkInG dEaTh ThReAtS </quote> ... Copied to Clipboard!
Dark_Arbron 02/16/24 11:23:35 AM #68:	action52 posted... YoU wErE mAkInG dEaTh ThReAtS Goddamn. I really need to get other people's lack of reading comprehension under control then. My bad! --- Calling out stupid or reckless decision-making is not "victim blaming." <cite>Dark_Arbron posted [p:978875514] in Jeff Bezos... [t:80697332]...</cite> <quote>action52 posted... </cite><quote>YoU wErE mAkInG dEaTh ThReAtS</quote>Goddamn. I really need to get other people's lack of reading comprehension under control then. My bad! </quote> ... Copied to Clipboard!
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Current Events > Jeff Bezos will move to Florida, cash out billions and then pay less tax than us (+) Yeah! (+)

Current Events > Jeff Bezos will move to Florida, cash out billions and then pay less tax than us