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Hmm 250 million a year from Bezos. Who made something like $50 billion in that time-frame. Can I get the 2% tax rate too, or is it just for Bezos?

unmole 5y ago
> Hmm 250 million a year from Bezos. Who made something like $50 billion in that time-frame. Except fot the fact that he didn't make $50 billion.
- danny_codes 5y ago
  IMO this kind of thinking is narrow-minded. Americans seem very opposed to taxing wealth for some reason. I believe it's a fear of change mostly, or perhaps an irrationally strong belief in some narrow school of economic thought. Even if you are fully indoctrinated though and are ideologically opposed to a wealth tax, perhaps you can recognize the insanity of capital gains tax, whereby Bezos (upon selling his shares) pays just 15%.
  - unmole 5y ago
    The top federal tax rate on long-term capital gains is 23.8%. I'm not sure where your 15% comes from. Calculation of capital gains does not account for inflation. Taxing a nominal increase in value over multiple years at the same level as income makes no sense. I resent the implication that I am indoctrinated in some parochial ideology. Especially considering I'm not even American.
- titusjohnson 5y ago
  If he can use the 50 Billion as collateral in a loan with which to fund his life, he clearly made something.
  - VirusNewbie 5y ago
    If I can use my previous income to get a loan from Visa (by credit card) does that mean I 'made' money on my future earnings? I'm not opposed to the idea of front loading taxes by taxing loans after a certain threshold.
collias 5y ago
He didn't "make $50 billion". The assets he holds increased in value. You wouldn't say you "made $100k" if the value of your house increased by that much, and you weren't selling it.
nullc 5y ago
> Can I get the 2% tax rate too, Sure. Make $200k/yr and in 2014 buy 556 Bitcoin for $220/btc and in 2018 you will find your effective tax rate 2014-2018 is about 2% ... until the price of Bitcoin dropped or until you sold the Bitcoin, at which point you'll be taxed (which is also the situation for bezos). [I could otherwise pick any stock that has gone up a _lot_ since then and make the same example.]

unmole 5y ago

> Hmm 250 million a year from Bezos. Who made something like $50 billion in that time-frame. Except fot the fact that he didn't make $50 billion.

danny_codes 5y ago
IMO this kind of thinking is narrow-minded. Americans seem very opposed to taxing wealth for some reason. I believe it's a fear of change mostly, or perhaps an irrationally strong belief in some narrow school of economic thought. Even if you are fully indoctrinated though and are ideologically opposed to a wealth tax, perhaps you can recognize the insanity of capital gains tax, whereby Bezos (upon selling his shares) pays just 15%.
- unmole 5y ago
  The top federal tax rate on long-term capital gains is 23.8%. I'm not sure where your 15% comes from. Calculation of capital gains does not account for inflation. Taxing a nominal increase in value over multiple years at the same level as income makes no sense. I resent the implication that I am indoctrinated in some parochial ideology. Especially considering I'm not even American.
titusjohnson 5y ago
If he can use the 50 Billion as collateral in a loan with which to fund his life, he clearly made something.
- VirusNewbie 5y ago
  If I can use my previous income to get a loan from Visa (by credit card) does that mean I 'made' money on my future earnings? I'm not opposed to the idea of front loading taxes by taxing loans after a certain threshold.

collias 5y ago

He didn't "make $50 billion". The assets he holds increased in value. You wouldn't say you "made $100k" if the value of your house increased by that much, and you weren't selling it.

nullc 5y ago

> Can I get the 2% tax rate too, Sure. Make $200k/yr and in 2014 buy 556 Bitcoin for $220/btc and in 2018 you will find your effective tax rate 2014-2018 is about 2% ... until the price of Bitcoin dropped or until you sold the Bitcoin, at which point you'll be taxed (which is also the situation for bezos). [I could otherwise pick any stock that has gone up a _lot_ since then and make the same example.]