View Poll Results: Should Zuckerberg Never Pay Taxes Again?

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  • Yes, Zuckerberg is an icon who deserves elevated status.

    0 0%
  • Yes, the world wouldn't be what it is today without him.

    0 0%
  • No, Zuckerberg is just like the rest of us.

    26 92.86%
  • No, Zuckerberg ruined modern society.

    2 7.14%
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Thread: Should Zuckerberg Never Pay Taxes Again?

  1. #1
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    Should Zuckerberg Never Pay Taxes Again?

    News Headlines

    Next year Mark Zuckerberg’s base salary will receive a dramatic pay cut—going from a base salary of $600,000 to just one dollar. Which raises the question: will he ever pay taxes again? Zuckerberg’s salary cut is being compared to similar moves by other tech titans. Google’s Eric Schmidt and Larry Page are paid just $1 annual salaries. Steve Jobs took just $1 in salary from 1997 until his death last year. Other members of the one-percent/one-dollar club include Oracle’s Larry Ellison and Hewlett-Packard’s Meg Whitman...

    ...Zuckerberg will also be able to access credit secured by his Facebook holdings—which will amount to billions of dollars. These lines of credit will not be tax advantaged—no deduction for interest payments—but they will supply him with spending money that will not be taxed.

    When you have the net worth of Zuckerberg, you can live for a very, very long time on tax-free debt that you can use as income. Let’s say that Zuckerberg needs $2 million of spending power per year and lives another 60 years. That’s $120 million of spending. If he gets an interest rate of 4 percent and just rolls it over as new debt, he’ll eventually accumulate around $520,919,997. Some of that interest, of course, may be deductible against other income. The might seem like a lot of debt. But for Zuckerberg—who will likely be worth around $25 billion when Facebook goes public—it’s a drop in the bucket. What’s more, if Facebook continues to grow, Zuckerberg’s worth will grow along with his debt. His debt burden will be negligible compared to his net worth. The unimaginably rich really are different from the rest of us.
    Zuckerberg isn't just an internet mogul, but someone who catalyzed a social revolution in changing the way we live our lives.

    Would you be willing to grant him tax immunity for everything he's done?

  2. #2
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    SmokeAndMirrors's Avatar
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    Re: Should Zuckerberg Never Pay Taxes Again?

    No. No one is an island. His success would have been impossible without everything taxes pay for and this weird idea we have that the rich and successful built everything from nothing is wholly erroneous. He was born into a developed society, went to public school, and now he uses the infrastructure of the country in a way that no average citizen could even begin to touch. He probably uses more tax dollars in a year than I have in my entire life.

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    Re: Should Zuckerberg Never Pay Taxes Again?

    Quote Originally Posted by SmokeAndMirrors View Post
    No. No one is an island. His success would have been impossible without everything taxes pay for and this weird idea we have that the rich and successful built everything from nothing is wholly erroneous. He was born into a developed society, went to public school, and now he uses the infrastructure of the country in a way that no average citizen could even begin to touch. He probably uses more tax dollars in a year than I have in my entire life.
    complete nonsense. he doesn't use more than the 60+ million who pay no income taxes-he has provided massive amount of value to millions of people. something you left-wingers never understand

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    Re: Should Zuckerberg Never Pay Taxes Again?

    Quote Originally Posted by TurtleDude View Post
    complete nonsense. he doesn't use more than the 60+ million who pay no income taxes-he has provided massive amount of value to millions of people. something you left-wingers never understand
    You should preface your posts with a summary of their content more often, TD. Nice use of a strawman to get that "no income tax" talking point in there.
    Last edited by ChunkySalsa; 05-19-12 at 09:10 AM.

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    Re: Should Zuckerberg Never Pay Taxes Again?

    Quote Originally Posted by ChunkySalsa View Post
    You should preface your posts with a summary of their content more often, TD. Nice use of a strawman to get that "no income tax" talking point in there.

    7 years here=never heard that. and just who are you?

    The man will be paying massive taxes-he just shifted from the guarantee of a salary to investment income-smart move-it keeps the parasites from getting more of his wealth. He will pay far more taxes than he should

  6. #6
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    Re: Should Zuckerberg Never Pay Taxes Again?

    Quote Originally Posted by SmokeAndMirrors View Post
    No. No one is an island. His success would have been impossible without everything taxes pay for and this weird idea we have that the rich and successful built everything from nothing is wholly erroneous. He was born into a developed society, went to public school, and now he uses the infrastructure of the country in a way that no average citizen could even begin to touch. He probably uses more tax dollars in a year than I have in my entire life.
    Ah yes, the left's rationalization for feeling entitled to confiscate other people's money.

    (btw, I don't think anyone should be exempt from paying taxes. We all have access to that great infrastructure after all)
    Last edited by X Factor; 05-19-12 at 09:31 AM.

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    Re: Should Zuckerberg Never Pay Taxes Again?

    Quote Originally Posted by TurtleDude View Post
    complete nonsense. he doesn't use more than the 60+ million who pay no income taxes-he has provided massive amount of value to millions of people. something you left-wingers never understand
    I never said he did. Where did you pull that from?

    Yes, he has provided a lot of value to a lot of people. Using tax-provided services and infrastructure to do so. And increasingly in his own life as he enjoys the fruits of his labors.

    He uses the things taxes pay for. He uses them more than most people. He should therefore pay taxes. What is so crazy about that?

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    Re: Should Zuckerberg Never Pay Taxes Again?

    Quote Originally Posted by TurtleDude View Post
    7 years here=never heard that. and just who are you?
    Seven years? That's quite impressive! I hadn't realized I was perusing a strawman crafted with love by a master of his craft!

    Who am I? My moniker, ChunkySalsa, is readily legible, though I can see how a man with your vast experience of reading other people's arguments might overlook that.

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    Re: Should Zuckerberg Never Pay Taxes Again?

    Quote Originally Posted by SmokeAndMirrors View Post
    No. No one is an island. His success would have been impossible without everything taxes pay for and this weird idea we have that the rich and successful built everything from nothing is wholly erroneous. He was born into a developed society, went to public school, and now he uses the infrastructure of the country in a way that no average citizen could even begin to touch. He probably uses more tax dollars in a year than I have in my entire life.
    Can someone force you to fly to an island and pay for the airplane ticket?

    The infrastructure and education argument is erroneous. You're entitled to acclimation into a community you didn't ask to join as rectification for coercion, and you're especially not expected to upkeep development you had no say in deciding how it was developed.

    Believing in the opposite would be the equivalent of saying people are guilty before proven innocent, that people have to prove their worth.

    _____

    That said, I wasn't talking about the public goods argument. I was talking about whether or not Zuckerberg deserves to be honored for improving the national interest.

  10. #10
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    Re: Should Zuckerberg Never Pay Taxes Again?

    Quote Originally Posted by X Factor View Post
    Ah yes, the left's rationalization for feeling entitled to confiscate other people's money.

    (btw, I don't think anyone should be exempt from paying taxes. We all have access to that great infrastructure after all)
    Rationalization my left foot. This is how the world actually works, but there are those who choose not to accept this.

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