Seattle WA: 9-0 vote to tax largest employers to help homeless

[strogg]

I think we have to keep in mind that business tax is different from personal income tax or capital gains tax from personal investments. And the amount that is paid for each can be described in either currency or a percentage. That's how a lot of these statistics comparing the rich and poor can become very misleading.

Don't forget too, just because Bezos is worth $102 billion doesn't mean that's how much cash he has on hand.

[mojo84]

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.

Tell me how much Bezos paid in federal income taxes.

[TreyHouston]

Tell me how good his tax attorneys ARE, you mean to be asking! I am sure they are working on 2021, making sure he is set up for that now...

[philip964]

I think we have to keep in mind that business tax is different from personal income tax or capital gains tax from personal investments. And the amount that is paid for each can be described in either currency or a percentage. That's how a lot of these statistics comparing the rich and poor can become very misleading.

Don't forget too, just because Bezos is worth $102 billion doesn't mean that's how much cash he has on hand.

Bernie Sanders is quite often talking about how rich a certain CEO is or how much money someone made in a day. Generally it is how much their stock went up. Not how much cash they have. Paper stock profits can evaporate over night.

Corporations pay income tax and then distribute what’s left to shareholders who then pay taxes again on that income. That’s always been unfair. But it’s also unfair to tax just big corporations in Seattle and not everyone.

Interesting the Feds now don’t allow individuals to deduct local taxes. Seems maybe corporations shouldn’t be allowed to deduct local taxes as well.

Why should the Fed be short changed because Seattle raised its taxes.

[C-dub]

I pay more than most in taxes, and I don't pay less than Bezo's.

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.

These two statements seem to contradict each other. Unless, of course, you have access to Bezos’ income tax returns.

[Abraham]

I'm never certain why the mega rich can also be leftist?

Forget zuck and gates.

Anyone remember Dr. Armand Hammer?

Commie to the core and a mega-jillionaire....

How does that reconcile?

[PriestTheRunner]

I'm never certain why the mega rich can also be leftist?

Forget zuck and gates.

Anyone remember Dr. Armand Hammer?

Commie to the core and a mega-jillionaire....

How does that reconcile?

Gets inside on the leftist agenda and profits from it.


https://www.snopes.com/fact-check/net-worth/
(notice how Snopes will NEVER give a right-leaning statement or image a "TRUE" rating. This one lists it as "Unstained"....)

[Allons]

I'm never certain why the mega rich can also be leftist?

Forget zuck and gates.

Anyone remember Dr. Armand Hammer?

Commie to the core and a mega-jillionaire....

How does that reconcile?

Gets inside on the leftist agenda and profits from it.


https://www.snopes.com/fact-check/net-worth/
(notice how Snopes will NEVER give a right-leaning statement or image a "TRUE" rating. This one lists it as "Unstained"....)

782% I wish he was running my 401k, I'd be retired now.

[Abraham]

Let's face it.

We have bank robbers, and white collar criminals galore who steal and steal, but politicians are the most profitable criminals of the lot when it comes to thievery. Yeah, they get caught and punished...(the dumb ones) but rarely, comparative to their overall theft. And we, the electorate blithely go along with it, like it's their due... Hey, you're a politician, we expect you to be a thieving, corrupt pariah.

Oh yeah, that includes both parties.

Get into big time politics and start feeding at the trough...

[MaduroBU]

This is good for Texas,therefore I like it. Fools with exorbitant tax rates chasing companies here.

Texas remains at the forefront of agriculture, energy, defense, and semiconductors. Getting more transplants from CA and WA can't hurt.

[Vol Texan]

This is good for Texas,therefore I like it. Fools with exorbitant tax rates chasing companies here.

Texas remains at the forefront of agriculture, energy, defense, and semiconductors. Getting more transplants from CA and WA can't hurt.

Until they enter the ballot box, and vote for the same leftist politicians who ruined their last home.

A few do assimilate, but most leftist transplants are just like a virus that destroys its host.

[gtolbert09]

This is good for Texas,therefore I like it. Fools with exorbitant tax rates chasing companies here.

Texas remains at the forefront of agriculture, energy, defense, and semiconductors. Getting more transplants from CA and WA can't hurt.

Until they enter the ballot box, and vote for the same leftist politicians who ruined their last home.

A few do assimilate, but most leftist transplants are just like a virus that destroys its host.

Just look at Austin, seems like all the Cali transplants live there.

[Allons]

Seattle repeals head tax. I'm glad they came to their senses.

https://www.foxbusiness.com/markets/sea ... -starbucks

[ELB]

Emily Litella lives!