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Peter1469
01-25-2019, 09:33 AM
Elizabeth Warren’s Wealth Tax Would Cost Jeff Bezos $4.1 Billion in First Year (https://finance.yahoo.com/news/elizabeth-warren-wealth-tax-cost-215609027.html)

Do you think Bezos will stay in the US if this scheme is implemented?


Jeff Bezos, the world’s richest person, would have to pay $4.1 billion in the first year under U.S. Senator Elizabeth Warren’s soon-to-be proposed wealth tax, based on his current net worth of $137.1 billion.

The Amazon.com Inc. founder and the other 174 Americans on the Bloomberg Billionaires Index, a ranking of the world’s 500 richest people, would collectively owe $61 billion.


Warren, a Massachusetts Democrat, plans to propose a tax of 2 percent on those with assets of $50 million to $1 billion and 3 percent on all fortunes exceeding $1 billion, the Washington Post reported Thursday. The tax would raise $2.75 trillion over a decade from about 75,000 families, the newspaper said, citing an economist advising Warren on the plan.


Almost all of Bezos’s net worth is tied up in Amazon stock, and such a tax bill could force him to sell some. He currently has $2.5 billion of cash and other liquid assets, according to the Bloomberg wealth index’s net worth analysis. Bezos, 55, eventually may share the tax burden with his wife MacKenzie. The couple announced earlier this month that they plan to divorce.

alexa
01-25-2019, 09:47 AM
Ask him.

Peter1469
01-25-2019, 09:50 AM
Ask him.
I did. He told me to fuck off.

I am just guessing what he would do.

alexa
01-25-2019, 09:51 AM
I did. He told me to $#@! off.

I am just guessing what he would do.

I'd pay what amounts to less than 4% of my net worth to stay here; I think most people would.

Peter1469
01-25-2019, 09:54 AM
I'd pay what amounts to less than 4% of my net worth to stay here; I think most people would.

I wouldn't. $4B for 1 year is ass rape X400.

And then again next year, the following year, and on and on.

alexa
01-25-2019, 09:56 AM
I wouldn't. $4B for 1 year is ass rape X400.

And then again next year, the following year, and on and on.

You'll be missed.

Lummy
01-25-2019, 10:16 AM
Here's an idea: Tax tech proportional to the amount of bugs, security breeches and associated costs they are responsible for except for their ridiculous template disclaimer.

countryboy
01-25-2019, 10:28 AM
Elizabeth Warren’s Wealth Tax Would Cost Jeff Bezos $4.1 Billion in First Year (https://finance.yahoo.com/news/elizabeth-warren-wealth-tax-cost-215609027.html)

Do you think Bezos will stay in the US if this scheme is implemented?

He'd be an idiot to stay. Of course, the Democrats will probably pass a, "good luck trying to leave the country with your money", tax.

Chris
01-25-2019, 10:56 AM
I did. He told me to fuck off.

I am just guessing what he would do.


Or he would just deduct it from his employee's paychecks.

Or he would double down on automating jobs.

Or leave. Isn't that what happened in Seatle when the city decided to impose some sort of head tax on companies over a certain size, they threatened to move outside the city and the city threw in the towel.

DGUtley
01-25-2019, 12:57 PM
Wealth Tax. Amazing.

pjohns
01-25-2019, 01:24 PM
I'd pay what amounts to less than 4% of my net worth to stay here; I think most people would.

Is your "net worth" 137.1 billion dollars?

Do you pay 4.1 billion dollars in taxes?

If not, then I really do not think that your own case is analogous...

Peter1469
01-25-2019, 02:49 PM
You'll be missed.
There is always Algore's Amazing Internets. :smiley:

countryboy
01-25-2019, 03:08 PM
I'd pay what amounts to less than 4% of my net worth to stay here; I think most people would.

What is stopping you from doing that now?

jimmyz
01-25-2019, 04:08 PM
If Bezos gets reamed I wonder if his paper, The WAPO, with change its leanings away from the Dems.

His wife will get 1/2 his money in the divorce anyway. He's screwed any way you look at it.

Peter1469
01-25-2019, 04:49 PM
If Bezos gets reamed I wonder if his paper, The WAPO, with change its leanings away from the Dems.

His wife will get 1/2 his money in the divorce anyway. He's screwed any way you look at it.
His wife will get whatever she gets once. The State comes knocking every year.

alexa
01-25-2019, 04:54 PM
Is your "net worth" 137.1 billion dollars?

Do you pay 4.1 billion dollars in taxes?

If not, then I really do not think that your own case is analogous...

I didn't say it was. I said if it cost me less than 4% of my net worth to stay here, I would.

Is $4B less than 4% of $137B?

Why, yes it is.

You're welcome

alexa
01-25-2019, 04:55 PM
What is stopping you from doing that now?
My effective tax rate is much higher than 4%.

No offense, but that was a really dumb question.

Have a nice day.

countryboy
01-25-2019, 04:58 PM
My effective tax rate is much higher than 4%.

No offense, but that was a really dumb question.

Have a nice day.

What is stopping you from paying a marginal rate of 70 or 90 percent? Don't you support AOCs policies?

alexa
01-25-2019, 08:53 PM
What is stopping you from paying a marginal rate of 70 or 90 percent? Don't you support AOCs policies?
Don't be stupid.

Common Sense
01-25-2019, 09:08 PM
Poor bastard would only have $133 billion left after the proposed tax!

I'm not sure how he'd cope.

Peter1469
01-25-2019, 09:22 PM
Poor bastard would only have $133 billion left after the proposed tax!

I'm not sure how he'd cope.

So seize it. Year after year.

alexa
01-25-2019, 09:23 PM
lol

Taxes, even imaginary ones, are seizures now.

Peter1469
01-25-2019, 09:25 PM
lol

Taxes, even imaginary ones, are seizures now.
Confiscatory taxation better?

alexa
01-25-2019, 09:26 PM
Confiscatory taxation better?

Whatever you prefer.

Common Sense
01-25-2019, 09:28 PM
So seize it. Year after year.
It would be collected, not seized..like all other taxes.

Taxes ifor the ultra wealthy were once much higher than they are now.

If if you have over $100 billion, I think you'd be ok with a 4% tax. It's hardly unreasonable.

zachroidott
01-25-2019, 09:28 PM
lol

Taxes, even imaginary ones, are seizures now.
Yeah.

Peter1469
01-25-2019, 09:29 PM
It would be collected, not seized..like all other taxes.

Taxes ifor the ultra wealthy were once much higher than they are now.

If if you have over $100 billion, I think you'd be ok with a 4% tax. It's hardly unreasonable.
In time that threshold with get lower and lower.

Common Sense
01-25-2019, 09:37 PM
In time that threshold with get lower and lower.

It hasn't even happened yet, so I doubt it.

I also doubt Warren will receive the Dem nomination, let alone win the election.

alexa
01-25-2019, 09:54 PM
It hasn't even happened yet, so I doubt it.

I also doubt Warren will receive the Dem nomination, let alone win the election.
Exactly

It's a sop to her base, like "no new taxes" or "Mexico will pay for the wall"

Peter1469
01-26-2019, 05:46 AM
It hasn't even happened yet, so I doubt it.

I also doubt Warren will receive the Dem nomination, let alone win the election.
It is class warfare.

First they asked to add additional taxes the billionaires. I was not a billionaire so I didn't mind.

Then they asked to add additional taxes to the millionaires. I was not a millionaire so I didn't mind.

Then they asked to add additional taxes to the top ten percent. Holy shit, that's me.

The bottom ~47% in the US pay almost zero federal income taxes. Condition them to love additional taxes on those who make more and over time Congress will keep pushing the additional taxes lower and lower.

Peter1469
01-26-2019, 05:48 AM
Exactly

It's a sop to her base, like "no new taxes" or "Mexico will pay for the wall"
If the dems run Big Chief Warren, they will ensure Trump gets a second term.

Cletus
01-26-2019, 05:55 AM
It would be collected, not seized..like all other taxes.

Taxes ifor the ultra wealthy were once much higher than they are now.

If if you have over $100 billion, I think you'd be ok with a 4% tax. It's hardly unreasonable.

Whether or not he would be "okay" really isn't the point. He could be "okay" on 35K a year. The point is that it is really a punitive tax. He would be penalized for being wealthy. No person should pay a greater or lesser portion of his income in taxes than any other person.

Captdon
01-26-2019, 09:45 AM
It is class warfare.

First they asked to add additional taxes the billionaires. I was not a billionaire so I didn't mind.

Then they asked to add additional taxes to the millionaires. I was not a millionaire so I didn't mind.

Then they asked to add additional taxes to the top ten percent. Holy $#@!, that's me.

The bottom ~47% in the US pay almost zero federal income taxes. Condition them to love additional taxes on those who make more and over time Congress will keep pushing the additional taxes lower and lower.

Reagan and the Democrats agreed that well-off people should pat income tax on money that wasn't paid by them at the start. They wanted to collect of the increase in value. They made up a figure of 32,000 dollars. Today, that's the average American. That's how Alexa's liberals sneak things through.

Common Sense
01-26-2019, 09:49 AM
Whether or not he would be "okay" really isn't the point. He could be "okay" on 35K a year. The point is that it is really a punitive tax. He would be penalized for being wealthy. No person should pay a greater or lesser portion of his income in taxes than any other person.

...yet that's how taxation works in virtually western country. Tax rates are already based on income level.

pragmatic
01-26-2019, 10:55 AM
...yet that's how taxation works in virtually western country. Tax rates are already based on income level.

Right. Except this new Warren proposal has zero to do with income. She is suggesting a government sponsored harvesting from static assets.

If one's assets exceed a certain amount then the state would come in and just take a percentage of it. Every year. Year after year.

Not aware of any other Western country with such a policy.

Audubon Zed
01-26-2019, 01:22 PM
Bezos is a tw*t. 2 rounds of layoffs last year(post-aquisition) and I hope his ex-wife rapes him for half his worth whether she deserves it or not.

Tahuyaman
01-26-2019, 01:54 PM
Elizabeth Warren’s Wealth Tax Would Cost Jeff Bezos $4.1 Billion in First Year (https://finance.yahoo.com/news/elizabeth-warren-wealth-tax-cost-215609027.html)

Do you think Bezos will stay in the US if this scheme is implemented?

Of course not. He'll move his fortune off shore.

Warren's motivation is to create revenue shortfalls so the left can have a reason to call for more tax increases.

Tahuyaman
01-26-2019, 02:00 PM
If the dems run Big Chief Warren, they will ensure Trump gets a second term.

I doubt that she will be their nominee. I don't believe any of the people who have announced so far will be.

I do believe though that Democrats are going to attempt to go after the identity politics crowd with their pick.

pjohns
01-26-2019, 02:24 PM
I didn't say it was. I said if it cost me less than 4% of my net worth to stay here, I would.

Is $4B less than 4% of $137B?

Why, yes it is.

You're welcome

Please do not be disingenuous. It as--as you are (presumably) aware--not at all a matter of percentages, but of hard dollar amounts.

Even for an extraordinarily wealthy person, 4.1 billion dollars in taxes is a huge amount to pay. In fact, it is downright confiscatory.

Wealthy people usually have tax shelters--and quite reasonably so.

It boggles the mind, however, to imagine that someone might have tax shelters, yet allow the government to seize 4.1 billion dollars in taxes anyway...

Cletus
01-26-2019, 02:38 PM
...yet that's how taxation works in virtually western country. Tax rates are already based on income level.
That doesn't make it right.

Tahuyaman
01-26-2019, 02:44 PM
That doesn't make it right.Besides, we aren't supposed to be like every other country. We are supposed to be unique. We are supposed to encourage risk taking and reward success.

Peter1469
01-26-2019, 08:28 PM
Bezos is a tw*t. 2 rounds of layoffs last year(post-aquisition) and I hope his ex-wife rapes him for half his worth whether she deserves it or not.

She won't and their divorce will be easier than that of many middle class and lower upper class Americans. Bezos knows he is going to have to pay a lot. His wife knows she will have more than enough to live out her life. They don't have much to argue over.

Peter1469
01-26-2019, 08:29 PM
Of course not. He'll move his fortune off shore.

Warren's motivation is to create revenue shortfalls so the left can have a reason to call for more tax increases.
Or to the moon. Build an independent colony, add a bank and tell the worlds nations to suck on those lost taxes. :wink:

Captdon
01-27-2019, 09:38 AM
I'd pay what amounts to less than 4% of my net worth to stay here; I think most people would.

Quit thinking, it's your big problem. My net worth doesn't belong to anyone but me. Of course, you have to have a net worth.