Billionaire Space Shots

  
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Frankenkubota

Frankenkubota

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And there is a difference between unrealized stock appreciation and earned income.

If your sole income in a year is a $1 billion gain in stock sales and you pay $200 million in capital gains taxes, is it honest to say “Bezos earned $1 billion in 2020 and paid zero income tax”! Is that an honest thing to say or perhaps do the writers have another agenda to push?

MoKelly
that's lawyer and media talk. yes, technically it's honest because he didn't pay "income tax".

the media will say he paid no income tax knowing most the population is clueless.

i thought capitol gains was 15% but it's been a while.

The entire tax code is a cluster and it ain't gonna change, too much money at stake. What would a flat tax do to the accounting profession?
 

MoKelly

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that's lawyer and media talk. yes, technically it's honest because he didn't pay "income tax".

the media will say he paid no income tax knowing most the population is clueless.

i thought capitol gains was 15% but it's been a while.

The entire tax code is a cluster and it ain't gonna change, too much money at stake. What would a flat tax do to the accounting profession?

Capital gains are indexed with highest rate currently 20%.

MoKelly
 

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Capital gains are indexed with highest rate currently 20%.

MoKelly
The only thing they don't pay is SS tax. I don't know how it works at his pay grade but suspect he still pays in the maximum amount, even W/O paying income tax.
 

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