Quote:
Originally Posted by Pete F.
Anyone who disagrees with a fascist is called a marxist, that is the history of fascism.
When you exercise stock options is the difference, the majority of Americans don't have that choice.
But read this, so you can see how, here in America, it works.
The 25 richest Americans, including Jeff Bezos, Michael Bloomberg and Elon Musk, paid relatively little — and sometimes nothing — in federal income taxes between 2014 and 2018, according to an analysis from the news organization ProPublica that was based on a trove of Internal Revenue Service tax data.
The analysis showed that the nation’s richest executives paid just a fraction of their wealth in taxes — $13.6 billion in federal income taxes during a time period when their collective net worth increased by $401 billion, according to a tabulation by Forbes.
The documents reveal the stark inequity in the American tax system, as plutocrats like Mr. Bezos, Mr. Bloomberg, Warren Buffett, Mr. Musk and George Soros were able to benefit from a complex web of loopholes in the tax code and the fact that the United States puts its emphasis on taxing labor income versus wealth. Much of the wealth that the rich accrue — like shares in companies they run, vacation homes, yachts and other investments — isn’t considered “taxable income” unless those assets are sold and a gain is realized. Even then, there are loopholes in the tax code that can limit or erase all tax liability.
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you’re desperately firing al over the place now.
we don’t tax wealth. so if jeff bezos’ house appreciates but he doesn’t sell it, you’re saying he should pay taxes on that?
what happens if there’s a housing crash like in 2008, and everyone’s house is worth less, the feds are going issue refunds?
sounds very practical Pete. you’re talking about taxing “unrealized” gains. Bonkers.
and you said explicitly, stock options are untaxed.
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