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I also am not sure how you're supposed to tax something like stock. If Bezos sold all of his stock in Amazon, well, for one he'd certainly be worth a lot less
by codyb 6y ago
I also am not sure how you're supposed to tax something like stock.
If Bezos sold all of his stock in Amazon, well, for one he'd certainly be worth a lot less fairly rapidly as the stock collapsed based on his massive sale of it.
He's taxed on the sale of his stock as far as I understand it, although the capital gains tax should presumably be higher than the tax on earned wages.
It seems sensible that when you're putting hours in, you'd get taxed at a lower rate than someone whose money made them more money.
But... if Bezos has 10 million shares and they're worth 100 billion dollars, do you... take his shares away even if he's not selling them just because his assets are worth more than a billion dollars?
I think it's fair to say the current state of affairs where his employees are working at barely livable wages and getting carted away in ambulances from his warehouses is certainly untenable.
At that point the federal government needs to step in and say that these places aren't paying these workers enough to live a comfortable lifestyle and support a family.
It's too bad the extremely wealthy are also so able to pervert our systems of governance through lobbying efforts which they can afford.
- 8note 6y agoTaxings loans against the stock would do it, I think? You can't use the stock based wealth without asking it, unless you take out a loan with the stock as collateral.