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Zuckerberg has undoubtedly paid billions in taxes, far more than practically any of us ever will. If everyone else paid taxes like Zuckerberg, we’d have a lot l
by bigyikes 3y ago
Zuckerberg has undoubtedly paid billions in taxes, far more than practically any of us ever will. If everyone else paid taxes like Zuckerberg, we’d have a lot less money in our pockets.
Moreover, the US government collects more than a trillion in taxes each year — is a few additional billion in tax revenue really what’s stopping the feds from tackling those issues?
- deleted 3y ago[deleted]
- asrgiopmioz 3y ago[flagged]
- 7thaccount 3y agoI doubt it. They lobby (i.e. bribe) to have the tax code shaped to where they have a access to a bazillion loop holes. Between holding money in a tax haven to holding large amounts in company stock or whatever...there are lots of tricks. Sure he may pay more absolute dollars, but percent wise it's surely far less than those of us paying 40%. They then form their own charities to control exactly where their money goes instead of it going to taxes like all of us.
- dragonwriter 3y ago> If everyone else paid taxes like Zuckerberg, we’d have a lot less money in our pockets. People whose income comes mainly in the form of capital gains pay much lower taxes on income than everyone else.
- nradov 3y agoReally? Long-term capital gains tax rate at upper income levels is 20%. Most households have a lower effective income tax rate than that after accounting for all deductions.
- s1artibartfast 3y agoSure, but the total is still enormous.
- dragonwriter 3y agoBecause of the concentration of income-earning power in the capital-rich class driven by the favorable tax treatment of capital income; they pay little for the income they earn from capital. Its a really good deal for them, and a bad deal for everyone else.
- s1artibartfast 3y agoI don't think we are going to settle questions of the ideal capital gains rate from an economic or moral standpoint over comment. Good deal or bad deal is relative to some counterfactual alternative. The topic is far too entwined with what one thinks the point of taxes or even the government is, and who should pay for it.
- parker_mountain 3y ago> If everyone else paid taxes like Zuckerberg, we’d have a lot less money in our pockets. Tell ya what, you give me enough money for me to pay taxes like Zuckerberg, and I will /happily/ give you back half of whatever is leftover.
- nyc_data_geek1 3y agoYes, and undoubtedly a far lower percentage of his gains and income than practically any of us ever will.