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A Coporation
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Last edited by Ellis Bell; 02-02-2020 at 06:54 AM..
Amazon didn't pay taxes. Bezos, as an employee, makes $80 000 a year in salary.
Quote:
Originally Posted by InformedConsent
Yes, we know. Ellis Bell is having a problem understanding that Amazon, the corporation, is a differently taxed entity than Bezos, the individual employee. Bezos pays federal income tax on his Amazon salary plus whatever taxable investment income (interest payments, dividends, capital gains,etc.) he has each year.
Again ... Jeff Bezos is smart enough not to pay himself a billion dollars a year. I do not understand how it is for people to not understand this ...
REAL TIME NET WORTH
$123.9B
as of 1/31/20
$7.9 B | 6.85%
zero taxes
It all goes back to corporations large donations to their Presidential candidate of choice --- individuals are corporations.
You're saying his net worth is $123 B, and that he paid almost $8 B in taxes? How is that zero? And besides, people are not taxed on their net worth anyway; they're taxed on income!
(Progressives really need to get off their hate of the rich white man who developed a company that has eased the lives of 100+ million Americans, especially elderly and handicapped.)
Who started the thread is irrelevant. The study didn't say it. Sorry if it offends you to see it pointed out. The truth about the study was discovered and pointed out about half way through this thread, and has been pointed out repeatedly after that, but people still push their talking points as if the misrepresentation was the truth.
that's why you don't see me arguing about anecdotes and various items that could keep someone from saving $400.
You're saying his net worth is $123 B, and that he paid almost $8 B in taxes? How is that zero? And besides, people are not taxed on their net worth anyway; they're taxed on income!
(Progressives really need to get off their hate of the rich white man who developed a company that has eased the lives of 100+ million Americans, especially elderly and handicapped.)
Quote:
You're saying his net worth is $123 B, and that he paid almost $8 B in taxes?
Who started the thread is irrelevant. The study didn't say it. Sorry if it offends you to see it pointed out. The truth about the study was discovered and pointed out about half way through this thread, and has been pointed out repeatedly after that, but people still push their talking points as if the misrepresentation was the truth.
Quote:
Originally Posted by BoBromhal
that's why you don't see me arguing about anecdotes and various items that could keep someone from saving $400.
Your post at 8:28. You listed his net worth, and then said something about $7.8 B as of 1/31/20 (or whatever the precise date was). I assumed the $7.8B was the taxes. Otherwise, what in the world are you talking about??
Jeff Bezos founded Amazon in July 1994. In May 1997, the organization went public.
From 1994 to 1997, Amazon and Jeff Bezos were "one and the same" - it was a privately held corporation (just like what you said you had).
The he effectively SOLD the company, by issuing shares to be purchased by the public. This is the process by which he went from 100% ownership down to (as claimed herein) 10% ownership.
Do you now understand that Amazon and Bezos are not the same entity?
within this thread, it was pointed out that Bezos sold some amount of Amazon stock for a total of $1.8MM, but he paid taxes and so netted 1.4MM (I think these figures are accurate).
So, 81K salary or not, anytime Bezos dips into his $100B fortune by selling a few shares, he pays federal income tax on the capital gains. He only sells shares that he has held for > 2 years.
Now, if I didn't say already when this was pointed out - this is IMO a flaw in our taxation system. There are plenty of "Wall Street" types who get very little of their income/value in taxable salary. But they do get paid enormous sums that are only subject to the lower capital gains rate.
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