Billionaire Space Shots

MossRoad · Jul 21, 2021

I gladly pay you Tuesday for a hamburger today

Frankenkubota · Jul 22, 2021

MoKelly said:
And there is a difference between unrealized stock appreciation and earned income.

If your sole income in a year is a $1 billion gain in stock sales and you pay $200 million in capital gains taxes, is it honest to say “Bezos earned $1 billion in 2020 and paid zero income tax”! Is that an honest thing to say or perhaps do the writers have another agenda to push?

MoKelly

that's lawyer and media talk. yes, technically it's honest because he didn't pay "income tax".

the media will say he paid no income tax knowing most the population is clueless.

i thought capitol gains was 15% but it's been a while.

The entire tax code is a cluster and it ain't gonna change, too much money at stake. What would a flat tax do to the accounting profession?

Jstpssng · Jul 22, 2021

MossRoad said:
Free beer tomorrow.

That's my favorite brand!!

MoKelly · Jul 22, 2021

Frankenkubota said:
that's lawyer and media talk. yes, technically it's honest because he didn't pay "income tax".

the media will say he paid no income tax knowing most the population is clueless.

i thought capitol gains was 15% but it's been a while.

The entire tax code is a cluster and it ain't gonna change, too much money at stake. What would a flat tax do to the accounting profession?

Capital gains are indexed with highest rate currently 20%.

MoKelly

Jstpssng · Jul 22, 2021

MoKelly said:
Capital gains are indexed with highest rate currently 20%.

MoKelly

The only thing they don't pay is SS tax. I don't know how it works at his pay grade but suspect he still pays in the maximum amount, even W/O paying income tax.