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Bezos' taxable income isn't $1,000,000. Only an idiot billionaire would structure their day to day processes in ways that were taxable. He likely operates like

Bezos' taxable income isn't $1,000,000. Only an idiot billionaire would structure their day to day processes in ways that were taxable. He likely operates like other extremely wealthy people do[1]: take a small salary to cover the interest on extremely low-interest loans made possible with his massive stock holdings as collateral. 1. https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax https://www.propublica.org/article/the-secret-irs-files-trov...

missedthecue 5y ago
Your own article literally says Jeff Bezos paid almost a billion dollars in federal income tax on $4.2 billion in income last year. Nothing about crazy schemes to minimize or offshore tax liability.
- omegaworks 5y ago
  >In 2007, Jeff Bezos, then a multibillionaire and now the world’s richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011. From 2014 to 2018 his wealth grew by 99B, and he paid under 1B in taxes. Would love a sub 1% effective tax rate.
  - missedthecue 5y ago
    It's a real curiosity how not having any income will result in not paying any income tax. Jeff Bezos did not sell any Amazon shares in 2007 or 2011. https://www.secform4.com/insider-trading/1018724-25.htm https://www.secform4.com/insider-trading/1018724-25.htm https://www.secform4.com/insider-trading/1018724-18.htm https://www.secform4.com/insider-trading/1018724-18.htm And a stock you own going up in value is not income. It does not trigger tax liability. If he doesn't sell shares right now, he is simply deferring tax liability to a future date. He is not cheating the tax man. His tax rate is not less than 1%.
    - omegaworks 5y ago
      Such a curiosity that poor people without an income starve to death or are made homeless but rich people without an income can take vanity rocket trips!
  - chrishynes 5y ago
    Increase in value of assets isn't taxable until you sell them -- this applies for the value of your house just the same as Bezos's Amazon stock.

missedthecue 5y ago

Your own article literally says Jeff Bezos paid almost a billion dollars in federal income tax on $4.2 billion in income last year. Nothing about crazy schemes to minimize or offshore tax liability.

omegaworks 5y ago
>In 2007, Jeff Bezos, then a multibillionaire and now the world’s richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011. From 2014 to 2018 his wealth grew by 99B, and he paid under 1B in taxes. Would love a sub 1% effective tax rate.
- missedthecue 5y ago
  It's a real curiosity how not having any income will result in not paying any income tax. Jeff Bezos did not sell any Amazon shares in 2007 or 2011. https://www.secform4.com/insider-trading/1018724-25.htm https://www.secform4.com/insider-trading/1018724-25.htm https://www.secform4.com/insider-trading/1018724-18.htm https://www.secform4.com/insider-trading/1018724-18.htm And a stock you own going up in value is not income. It does not trigger tax liability. If he doesn't sell shares right now, he is simply deferring tax liability to a future date. He is not cheating the tax man. His tax rate is not less than 1%.
  - omegaworks 5y ago
    Such a curiosity that poor people without an income starve to death or are made homeless but rich people without an income can take vanity rocket trips!
- chrishynes 5y ago
  Increase in value of assets isn't taxable until you sell them -- this applies for the value of your house just the same as Bezos's Amazon stock.