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This type of reporting is always confusing to me- the author cites precise tax rates for each— concession worker 14.1%, Lebron James 35.6%, and Steve Ballmer 12
by a5seo 5y ago
This type of reporting is always confusing to me- the author cites precise tax rates for each— concession worker 14.1%, Lebron James 35.6%, and Steve Ballmer 12%— but then critiques the tax code for allowing Ballmer to take depreciation deductions without making clear if 12% is artificially low due to depreciation deductions or if his “real” tax rate (before allowing for specious depreciation deductions) is actually MUCH lower than 12%.
I suspect it’s the latter, but if he author’s goal is to incite the reader’s sense of injustice, eliminating the depreciation deduction won’t radically change the disparity between these people’s tax rates.
- happytoexplain 5y ago>Ballmer reported making $656 million. The dollar figure he paid in taxes was ... $78 million ... his federal income tax rate was just 12% Am I misunderstanding, or is this not stating that 12% was his real tax rate?
- 0goel0 5y agoI think OP just didn't read the article
- lsllc 5y agoI think Lebron is either being very altruistic in paying his share of taxes, or he needs to to hire Balmer's accountants!
- Dma54rhs 5y agoThere's no way he pays that much, professional athletes have very complicated tax schemes where they sell their likeness or branding under different companies and entities for a start.