Jeff Bezos claims child tax credit.

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    Hatin Since 87

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    The title “Jeff bozos ‘ONCE’ claimed child tax credit”. Not meaning he claimed it one time, but at some point in time.

    LMFAO. Seriously. Who the **** cares? He has kids. Is there a problem claiming you have kids on your taxes, regardless of net worth or income?
     

    Libertarian01

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    As long as it is/was legal I don't see a problem. If this is a problem, what does it mean? That we are to try to work hard, innovate, create, then be excoriated for our success?

    People got PO'd at Trump for not paying some taxes in years, and yet all he did was follow the law regarding EVERY real estate investor. I don't see a problem here. If we don't want someone to take a tax credit - get rid of the credit! Why should anyone get a tax credit for breeding anyway?

    Regards,

    Doug
     

    rooster

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    Again. Did he have kids? He claimed he did. Why is that wrong

    I can point out a few reason. First the total comp included things like “security” and “travel”. Was he treating the business like a person bank in order to avoid taxes? I’m not a tax lawyer but I feel like that’s probably illegal. I’m sure the IRS would have something to say if you or I did it anyway.

    the child tax credit was introduced in 1998 to provide low and middle income American parents tax relief. I think we can all agree that a billionaire claiming this credit is not within the “spirit of the law”

    Gregory v. Helvering decided that business purpose doctrine is essentially that if a transaction has no substantial business purpose other than the avoidance or reduction of Federal tax, the tax law will not regard the transaction. So considering his high standard of living and lifestyle is in no way shape or form financed on 80k a year some IRS agents should be looking into this.

    considering the amount of money that some of y’all spend on guns I’m gonna go out on a limb and say many here make more salary than Bezos and pay substantially more income tax and yet you probably don’t own a portfolio of mansions like him.

     

    flightsimmer

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    This brings up a point that I believe is unconstitutional.

    If under the constitution we, individuals, are all to be treated equal then how does the government get away with taxing some people at one rate and others at a different rate depending on how wealthy they are?

    To me that has always been unconstitutional. If I make $25,000 a year or I make $25,000,000 a year I should be taxed at the same rate as everyone else, right?, right?
     

    rooster

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    This brings up a point that I believe is unconstitutional.

    If under the constitution we, individuals, are all to be treated equal then how does the government get away with taxing some people at one rate and others at a different rate depending on how wealthy they are?

    To me that has always been unconstitutional. If I make $25,000 a year or I make $25,000,000 a year I should be taxed at the same rate as everyone else, right?, right?
    And since businesses are people why do they only pay taxes on money left over after expenses and we pay on straight income (yes I understand business taxes are more complicated than that but that’s a decent ELI5 so we don’t get out in the weeds on it ).
     

    flightsimmer

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    And since businesses are people why do they only pay taxes on money left over after expenses and we pay on straight income (yes I understand business taxes are more complicated than that but that’s a decent ELI5 so we don’t get out in the weeds on it ).
    I know nothing about business taxes so I won't go there.
    Matter of fact I don't understand the individual tax code either.
     

    BugI02

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    People got PO'd at Trump for not paying some taxes in years, and yet all he did was follow the law regarding EVERY real estate investor. I don't see a problem here. If we don't want someone to take a tax credit - get rid of the credit! Why should anyone get a tax credit for breeding anyway?
    The short form of that is "Don't hate the playa, hate the game"
     

    KG1

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    The title “Jeff bozos ‘ONCE’ claimed child tax credit”. Not meaning he claimed it one time, but at some point in time.

    LMFAO. Seriously. Who the **** cares? He has kids. Is there a problem claiming you have kids on your taxes, regardless of net worth or income?
    Yeah. The problem is that he forgot to claim me. :(
     

    churchmouse

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    This is everything that’s wrong with the tax system.

    tax the wealth. It’s now obvious that it’s the only way to get a real fair share out of them.

    Oh for crap sake.
    Do you file tax credits.
    Is it legal to do so regardless of your holdings and net worth.
    So he can not do something that is completely legal.

    So what he is king Midas rich.
     

    churchmouse

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    And since businesses are people why do they only pay taxes on money left over after expenses and we pay on straight income (yes I understand business taxes are more complicated than that but that’s a decent ELI5 so we don’t get out in the weeds on it ).
    If we all had to write 1 check every year on 4/15 to cover every tax that was levied on us this conversation would be taking on a whole new direction.

    Have you ever been in business.
    Made a payroll.
    Maintained the buildings/vehicle's/basic over head on that business.
    Serious question as it seems you have not. Just curious.
     

    BugI02

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    Oh for crap sake.
    Do you file tax credits.
    Is it legal to do so regardless of your holdings and net worth.
    So he can not do something that is completely legal.

    So what he is king Midas rich.
    I doubt he ever even sees his taxes. Likely they tell him what he will have to pay, what they charged him and then he electronically signs something. His accountants have probably never been in the same room with them, their job is to minimize his tax bill in any way possible
     

    BugI02

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    And since businesses are people why do they only pay taxes on money left over after expenses and we pay on straight income (yes I understand business taxes are more complicated than that but that’s a decent ELI5 so we don’t get out in the weeds on it ).
    You don't pay on straight income either. You can deduct state and local taxes against your income, child care costs in the form of a tax credit, interest on certain expenses such as your mortgage, contributions to a 401k, medical expenses above a certain percentage of income yada yada yada
     

    BugI02

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    Conversely, why should those of us that chose not to have kids have to pay property taxes to fund the schools?
    One reason is good schools prop up the value of your house. It allows you to appeal to a broader cross section of potential buyers. The next owner might have kids and would pay a premium for a house in an area where his kids go to good schools. You benefit greatly from the quality of your school system
     
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