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Amazon will pay $0 in taxes on $11,200,000,000 in profit for 2018

Dittohead not!

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Yes, because whatever Amazon did, they did it legally.

Which is entirely beside the point when someone is criticizing the fact that it can be done legally.
 
Yes, because whatever Amazon did, they did it legally.

Either you're joking, or a bit confused about your own political leaning. You wouldn't happen to be Tim Pool, would you?
 
Yes, because whatever Amazon did, they did it legally.
So you assume. We wouldn’t necessarily find out if they were crossing some lines, even if the tax authorities did.

Regardless, just because something is legal doesn’t automatically make it OK, which was the question. Otherwise, laws would never be changed.
 
A gift from Donnie and the GOP.

The majority of Americans are getting back 8.4% less in tax refunds.

Which means they are paying less tax on their income - which is a good thing. Why do so many think of tax refunds as some sort of annual sweepstakes? The more one gets back on their tax refund simply means the more they've been providing the government with interest-free loans.


OM
 
So you assume. We wouldn’t necessarily find out if they were crossing some lines, even if the tax authorities did.

Regardless, just because something is legal doesn’t automatically make it OK, which was the question. Otherwise, laws would never be changed.

The "legal doesn't make it okay" response is meaningless. Whether or not something is "okay" in your eyes is just your opinion. Our tax code allows everyone to lower their tax burden as much as possible. If you don't like it, change the tax code.
 
The "legal doesn't make it okay" response is meaningless. Whether or not something is "okay" in your eyes is just your opinion.
Yes, but that was literally the OP question. It is the "but it's legal" response that is meaningless in this context, when the question is effectively "Should it be legal?"
 
Yes, but that was literally the OP question. It is the "but it's legal" response that is meaningless in this context, when the question is effectively "Should it be legal?"

Wrong. The question is effectively, "is this okay," and my response is yes, because our tax system allows us to lower our tax liability as much as possible.
 
The thing about corporate income taxes is that their income goes to share holders and employees, who then pay taxes. If the corporation pays zero, the people who receive that profit do pay taxes.

What I'm wondering now is just how much tax Bezos paid on his mind boggling 130 plus billion.
 
The thing about corporate income taxes is that their income goes to share holders and employees, who then pay taxes. If the corporation pays zero, the people who receive that profit do pay taxes.

What I'm wondering now is just how much tax Bezos paid on his mind boggling 130 plus billion.

The value of his stock will not be taxed as income or capital gains, until he sells it,
in most cases, so likely not much.
If that stock pays dividends, those are taxable and might be quite high.
 
The value of his stock will not be taxed as income or capital gains, until he sells it,
in most cases, so likely not much.
If that stock pays dividends, those are taxable and might be quite high.
Will they be taxed "quite high," or on the capital gains scale rather than based on ordinary income?
 
Will they be taxed "quite high," or on the capital gains scale rather than based on ordinary income?
I am fairly certain that dividends are taxed as normal income, but will look.
How Are Dividends Taxed? -- The Motley Fool
It looks like it is more complicated, with them breaking down the types of stocks and what type of accounts.
Qualified dividends get taxed at the lower rates stated above. Nonqualified dividends, on the other hand, get taxed at your ordinary income tax rate,
Also if the stock account is part of a retirement account, the dividends do not look like they are taxed until funds are withdrawn.
 
Wrong. The question is effectively, "is this okay," and my response is yes, because our tax system allows us to lower our tax liability as much as possible.

Morally, ethically, equitably and following the principles of the rule of law "this is not okay". You talk about a tax system, yet Amazon in essence doesn't have any tax system surrounding them. This is once again not fair, just or equitable and fosters a system of inequality.
 
Morally, ethically, equitably and following the principles of the rule of law "this is not okay". You talk about a tax system, yet Amazon in essence doesn't have any tax system surrounding them. This is once again not fair, just or equitable and fosters a system of inequality.

I don't know what you're talking about. As far as I know, Amazon is surrounded and abides by many different tax systems. The words "fair," "equitable," "ethical," and "moral" are all subjective terms. They provide no basis on what Amazon's obligations are.
 
The thing about corporate income taxes is that their income goes to share holders and employees, who then pay taxes. If the corporation pays zero, the people who receive that profit do pay taxes.

What I'm wondering now is just how much tax Bezos paid on his mind boggling 130 plus billion.

I'm not sure how the comparison between Business taxes and Individual taxes are valid. You're also conflating Bezos's wealth with his income, which doesn't make sense. Wealth is an accumulation of income; a stock. Income is compensation over a period of time; a flow. We don't tax wealth (not yet, anyway).

As far as we know, Jeff only has a salary of 81,800 a year. His other compensation is unknown, but it's most likely related to his security expenses. So whatever the marginal rate for 81,000 is, that is what Bezos is paying in income taxes.
 
I am fairly certain that dividends are taxed as normal income, but will look.
How Are Dividends Taxed? -- The Motley Fool
It looks like it is more complicated, with them breaking down the types of stocks and what type of accounts.

Also if the stock account is part of a retirement account, the dividends do not look like they are taxed until funds are withdrawn.
Yes, dividends are taxed as ordinary income, but capital gains are not. Hold on to those stocks, sell them, and the profits from the increase (if any) are taxed as capital gains.
 
I'm not sure how the comparison between Business taxes and Individual taxes are valid. You're also conflating Bezos's wealth with his income, which doesn't make sense. Wealth is an accumulation of income; a stock. Income is compensation over a period of time; a flow. We don't tax wealth (not yet, anyway).

As far as we know, Jeff only has a salary of 81,800 a year. His other compensation is unknown, but it's most likely related to his security expenses. So whatever the marginal rate for 81,000 is, that is what Bezos is paying in income taxes.

Yes, of course his wealth is an accumulation of his income, less his outgo. It works the same for everyone. What I'm asking is whether his income was taxed along the way the same as yours and mine. I wonder. Maybe he did pay the top marginal tax rate on everything in that top tax bracket. Maybe he didn't. Here's the question: Do billionaires have the ability to shelter some of their income in ways ordinary income earners don't?
 
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