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Soccerdad1995 wrote:

mojo84 wrote:

Soccerdad1995 wrote:

mojo84 wrote:I do not agree with what the city is doing. However, I feel little to no pity for Amazon or Bezos when it comes to paying taxes.

https://www.foxbusiness.com/markets/ama ... eral-taxes

Most think Amazon headquarters is in Wa. It's not and it all has to do with tax avoidance.

How do you feel about paying more federal tax than Bezos?

I pay over six figures in federal income taxes each year. And I'm confident that I pay less in federal income taxes than Jeff Bezos. The corporation that he heads, and which he owns a part of, apparently reported a tax loss last year. That is not the same thing as Mr Bezos not paying federal income taxes. I own a part of several corporations that each did not pay taxes last year. Yet I still paid federal income taxes.

We could start a separate thread on the merits of dual taxation when it comes to corporations, that pay income tax, and their owners, who also pay income tax again when those same dollars of profit are distributed.

I'm sure we are all extremely impressed with how much you make and how much you pay in taxes.

I think you would be very surprised how little Bezos actually pays in taxes in relation to how much he makes through capital gains. By the way, he doesn't take much of a salary (around $82,000) for a reason. He has teams of tax advisors and lawyers that helps him mitigate his personal tax obligation. https://www.investopedia.com/news/what- ... last-year/

But thanks for the little lecture even if it wasn't accurate. Amazon hasn't operated at a loss for a little while now. They are using loss carry forward and a foreign domicile to pay very little to no taxes. He is a master at the game.

Like I told rotor, I do not agree with what the city is doing but I also do not pity Bezos or Amazon.

Not trying to impress you Mojo, and also not trying to "lecture" you. If anyone is "lecturing" with "inaccurate" info, it is you. You asked how we felt about Bezo's paying less in taxes than we pay. I pay more than most in taxes, and I don't pay less than Bezo's. So unless we have a lot of folks on this board with extremely high incomes, I have no idea who you were directing your question to.

You then linked to a story about a company that paid no corporate income taxes last year. Bezos owns stock in this company, and also works for them. Both of those facts, of course, are completely irrelevant to your question about my feelings regarding Bezo's income taxes. The fact is that unless you have access to Mr. Bezo's income tax returns, you really have no idea what he pays in income taxes.

You were inaccurate when you asked how I felt about Bezo's paying less in taxes than I pay. My answer was not inaccurate. But I'm sure we are all impressed with your ability to blindly speculate without having any supporting facts. And thank you for the lecture.

Soccerdad1995 wrote:

mojo84 wrote:I do not agree with what the city is doing. However, I feel little to no pity for Amazon or Bezos when it comes to paying taxes.

https://www.foxbusiness.com/markets/ama ... eral-taxes

Most think Amazon headquarters is in Wa. It's not and it all has to do with tax avoidance.

How do you feel about paying more federal tax than Bezos?

I pay over six figures in federal income taxes each year. And I'm confident that I pay less in federal income taxes than Jeff Bezos. The corporation that he heads, and which he owns a part of, apparently reported a tax loss last year. That is not the same thing as Mr Bezos not paying federal income taxes. I own a part of several corporations that each did not pay taxes last year. Yet I still paid federal income taxes.

We could start a separate thread on the merits of dual taxation when it comes to corporations, that pay income tax, and their owners, who also pay income tax again when those same dollars of profit are distributed.

rotor wrote:

mojo84 wrote:I do not agree with what the city is doing. However, I feel little to no pity for Amazon or Bezos when it comes to paying taxes.

https://www.foxbusiness.com/markets/ama ... eral-taxes

Most think Amazon headquarters is in Wa. It's not and it all has to do with tax avoidance.

How do you feel about paying more federal tax than Bezos?

I agree with you about Bezos but realize this, Amazon is a public corporation and has a duty to it's stock holders and that duty is to provide a maximum financial return. Bezos can do whatever he wants to do with his money but he has a fiduciary obligation to the stockholder when it comes to Amazon. Paying more taxes is not good for the stockholders. That city regulation penalizes the stockholder. Who knows how many other business's will be affected. Never bite the hand that feeds you.