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One thing that really irks me is Leftists saying that so-and-so rich person pays $0 in taxes. Either they are outright lying or misinformed. Probably a little of both.
On my Facebook News Feed just this week I have seen it claimed that Jeff Besos and Joel Osteen don't pay any taxes.
Jeff Bezos pays tens of billions in taxes every year. Amazon as a company perhaps does not pay business taxes, because they reinvest their surplus cash.
Joel Osteen does pay taxes on his income. His church does not pay taxes because churches are not considered businesses.
I'm not saying I agree that the government should allow these arrangements, but lets at least get our facts straight.
This reminds me of when Leftists say "Warren Buffet pays less tax than his secretary." C'mon. He pays billions and she pays thousands. And he gets less in return since he's paying to drive on the same roads as she is. The rich are the ones who should be complaining that the poor aren't paying their fair share.
I did see the Jeff Bezos thread last week; however, it wasn't started or followed by "leftists." That seemed to be a right-wing hate thread. And no matter what anyone said, it was about Amazon and not Jeff Bezos. Jeff himself probably pays plenty of taxes; his company not so much.
Yes, there is some dishonesty about it but there are cases were millionaires and billionaires shift their income to stock options and collect a $1 w-2 income, that is outright tax evasion.... If you or I did that, we would be in prison... Jeff Bezos is a billionaire, as far as billionaires go, he probably did cheat on his taxes somewhere... That is just the nature of billionaires... A good rule could be your payment from a company you work for cannot have benefits more than 10% of your w-2 income... That would shift their main income to taxable ones...
One thing that really irks me is Leftists saying that so-and-so rich person pays $0 in taxes. Either they are outright lying or misinformed. Probably a little of both.
On my Facebook News Feed just this week I have seen it claimed that Jeff Besos and Joel Osteen don't pay any taxes.
Jeff Bezos pays tens of billions in taxes every year. Amazon as a company perhaps does not pay business taxes, because they reinvest their surplus cash.
Joel Osteen does pay taxes on his income. His church does not pay taxes because churches are not considered businesses.
I'm not saying I agree that the government should allow these arrangements, but lets at least get our facts straight.
This reminds me of when Leftists say "Warren Buffet pays less tax than his secretary." C'mon. He pays billions and she pays thousands. And he gets less in return since he's paying to drive on the same roads as she is. The rich are the ones who should be complaining that the poor aren't paying their fair share.
Amazon didn't pay any taxes Trump himself has been mad about. Joel Osteen's mega millions church didn't pay taxes either even though it should. Not sure what's dishonest about this?
Warren Buffet said that he pays less taxes as a percentage of his income than his secretary.
Good enough for me.
And he can personally fix that but chooses not to do so. He chooses to tax a very small salary and use dividends which is taxed at a lower capital gains rate for his "income." If he wanted, he could easily pay himself a salary commensurate with that of a CEO and pay the ordinary income rate for said salary. He chooses to ensure his tax rate is less than his secretary. So, don't be fooled by this nonsense.
This reminds me of when Leftists say "Warren Buffet pays less tax than his secretary." C'mon. He pays billions and she pays thousands.
You don't know what he pays in taxes unless you have seen his tax returns. But his salary is public knowledge - it is $100,000 per year, which is pretty low for a billionaire. His wealth is that he owns a company that is worth billions. There is a big difference between income and wealth. And that is the point being made about people like Bezos and Buffett - they have a huge amount of wealth which goes un-taxed. It just sits. Our tax laws don't tax wealth, they tax income. Warren wants to change that.
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