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So Real Estate is exempt from the Capital Gains tax and the tax only applies to the portions of capital gains in excess of $250,000.
Well I stand corrected. That's good to know because that is one way to wealth for middle class people.
I was able to take advantage of that tax break on two homes I owned in the past.
We got to stop worrying about what billionaires do and worry about how these types of bills affect US...the peons.
I highly doubt Bezos "Salary" on paper is high enough for him to care about the taxes, that state has no income tax BTW. Billionaires do not follow the same rules as wage workers on how they buy, own, and move Capitol.
All those Billionaires in South Florida are not taking huge Salaries nor does their wealth and taxation stem from their salary. Bezos could move to NYC and not have his taxes change much, it's a whole different ball game for these guys.
Mr. Jeff Bezos does have at least one home in NYC.
One assumes in common with many other HNW individuals Mr. Bezos carefully calculates his time in NYC or NYS for that matter so not to be subject to income taxation.
WA's taxes now and future increases don't really matter much to those who roll at level of Jeff Bezos. We're talking about a man or persons who have more money than God and each day their wealth increases exponentially. These persons employ a small army of tax specialists including accountants and attorneys who manage to make their payments little as possible.
He's saying he's moving to Miami to be near his folks and the space center because he still has investments in Seattle Washington, so can't trash them publicly.
Last edited by beach43ofus; 11-03-2023 at 07:15 PM..
Then he is the ultimate hypocrite, because he himself is a raging liberal/leftist that promotes the ideology, but doesn't want it to affect him personally.
He is actually a Libertarian and a capitalist. Where do you get that he is a raging liberal? Because he owns WaPo? Him buying WaPo is like you buying a candy bar. What exactly do you know that he promotes? Because he does not say much. But people that know him say he is a Libertarian.
He's been described as a libertarian. Early Amazon investor Nick Hanauer has described Bezos as a libertarian. And Bezos has donated to the nonprofit organization that publishes Reason.com, the Web site of the libertarian magazine with the same name. He also put $100,000 toward the defeat of a 2010 measure that would have imposed an income tax on top earners in the Evergreen State.
Amazon's PAC gives to both parties: It's also worth noting that Amazon.com has a political action committee, to which Bezos and his wife have donated. The PAC split its donations pretty evenly between Republican and Democratic candidates for Congress last cycle. Democratic House and Senate contenders received $93,000, while Republicans got $86,500, according to the Center for Responsive Politics.
Come on folks - do you think he'd actually say he was moving because of the taxes - that would make him a hypocrite. No different than a politician not running for re-election after some big issue and saying he's not running due to family matters. Even the rich lie.
Why would he be a hypocrite? Back in 2010 WA stated wanted to start an income tax. He donated big money to stop it. He donates to Reason.com a Libertarian website.
Then he is the ultimate hypocrite, because he himself is a raging liberal/leftist that promotes the ideology, but doesn't want it to affect him personally.
You are judging Bezos through your frame of reference. Bezos isn’t like you and I. His taxes are not going to be affected. Neither state has income tax. Nothing is going to “affect” him personally or otherwise.
If anything, his home, auto and everything else insurance will skyrocket. But, he can afford it.
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