[SunkenCiv]

Illustration by PublicDomainPNG / Pixabay

[G Larry]

The more impressive figures are those reflecting tax rate on earnings (rather than growth in value).

WB = 19%

JB=23%

MB=3%

EM=30%

Musk needs to higher Bloomberg's accountant.

[PGR88]

How the nonprofit gained this data is unclear, since ProPublica acknowledged this data is confidential.

I have no love for Jeff Bezos, but isn't it interesting how America's permanent deep state apparatchiks at IRS, FBI, DOJ, etc.. have no problem leaking information which furthers a political narrative.

[airborne]

And who, pray tell, writes those tax loop holes?

[forgotten man]

Some people pay zero income tax on their Form 1040 but pay a lot of Alternative Minimum Tax.

[SmokingJoe]

You don't pay taxes from the value of your stock holdings merely growing. You pay taxes when you sell the stock and subtract how much you paid for the stock and other factors.

[Blennos]

...Musk's wealth grew by $13.9 billion between 2014 and 2018 and he reported total income of $1.52 billion, or 10.94% of this wealth, and paid $455 million, or 3.27% of his wealth.

Misleading and a little silly. When one pays income tax, you pay tax on income not wealth. It looks like Musk paid about 1/3 of his income in taxes between the years stated. Hardly a scandal.

[2aProtectsTheRest]

So wait, are they following the laws, as written? Yes?

If you want to take more money from people, you have to write that in the law. When the law you wrote doesn’t say what you thought it said, or doesn’t do what you wanted it to do, it’s a failure of the legislature. You can’t blame people who are trying to avoid handing over money they don’t have to under the law.

No one should ever pay any more taxes than they are legally obligated to pay.

[FrankRizzo890]

Do you guys see what’s going on here? They’re INTENTIONALLY talking about their WEALTH instead of their INCOME, as they want to instigate a WEALTH tax, and need public outcry to get it done. So, they pump out stories like this, hoping to garner public support for it.

[Vermont Lt]

Many Americans don’t know the difference between “wealth” and income.

It’s evidence that our schools suck.

And if we taught how the tax system is created and who benefits there would be a revolution in this country.

[zeestephen]

Bezos recently sold a big chunk of Amazon stock.

More than $1 billion, as I recall.

Capital gains would be at least $200 million.

Also, if Bezos has more than $200,000 in adjusted gross income (salary, dividends, interest, etc.) in 2021, he will have to pay an extra Net Investment Income Tax of 3.8% on his stock sale.

[SgtHooper]

“America’s billionaires avail themselves of tax-avoidance strategies beyond the reach of ordinary people.”

Bull$h!TT!

[Taxman]

Yet another MAJOR reason to replace the Marxist inspired progressive income tax with the FAIRtax!

AND, ABOLISH THE HIGHLY POLITICIZED IRS!

Find out how YOU can help us do that by going to https://www.bigsolution.org!