Jeff Bezos claims child tax credit.

[armalitesheepdog]

I would bet Donald Trump did as well.
If you have kids and its legal then....
When I do my taxes I do everything I can to pay as little as possible. Wouldn't change no matter my income. There is a lot more wrong with Mr Bezos that his taxes

 

[Kutnupe14]

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?

This depends, rate and amount vary. I personally believe people should pay taxes in a way that “hurts” their pocketbook equally. I actually like consumption taxes better.

 

[rooster]

So everyone thinks it’s fair/just/fine by you that a man (Bezos, gates, Buffett ect) draws a salary of less than the average upper middle class workers makes while essentially laundering millions if not billions through their
Companies in the form of travel perks/ security and God only knows what creative accounting methods?

if so why? Is INGO low key home to a bunch of millionaire tycoons? Do you not want to be faced with extra taxes should you manage to beat the odds and become a billionaire?

I’m genuinely curious

and to answer some questions upthread yes I’ve owned and operated several businesses, primarily as a owner operator LLC. The only reason I’m not in business for myself at the moment is that someone pays me just enough to keep me employed running a piece of theirs. I’ve got some irons in the fire and will probably change that in the next few years though.

 

[churchmouse]

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

Thats what my tax guy is for as well. Use every little angle possible to keep me from being raped.

 

[rooster]

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

Surely he knows something is going on. He openly brags about his low salary. Many CEO’s do.

 

[Kutnupe14]

So everyone thinks it’s fair/just/fine by you that a man (Bezos, gates, Buffett ect) draws a salary of less than the average upper middle class workers makes while essentially laundering millions if not billions through their
Companies in the form of travel perks/ security and God only knows what creative accounting methods?

if so why? Is INGO low key home to a bunch of millionaire tycoons? Do you not want to be faced with extra taxes should you manage to beat the odds and become a billionaire?

I’m genuinely curious

and to answer some questions upthread yes I’ve owned and operated several businesses, primarily as a owner operator LLC. The only reason I’m not in business for myself at the moment is that someone pays me just enough to keep me employed running a piece of theirs. I’ve got some irons in the fire and will probably change that in the next few years though.

I don’t. The tax code is regularly taken advantage of by the rich. Those of us that aren’t, are still one the hook for money. People should ask the question “who writes the tax code,” and what do their bank accounts look like. I doubt we’d find very many people who aren’t reaping the benefits denied to most other Americans.

 

[churchmouse]

So everyone thinks it’s fair/just/fine by you that a man (Bezos, gates, Buffett ect) draws a salary of less than the average upper middle class workers makes while essentially laundering millions if not billions through their
Companies in the form of travel perks/ security and God only knows what creative accounting methods?

if so why? Is INGO low key home to a bunch of millionaire tycoons? Do you not want to be faced with extra taxes should you manage to beat the odds and become a billionaire?

I’m genuinely curious

and to answer some questions upthread yes I’ve owned and operated several businesses, primarily as a owner operator LLC. The only reason I’m not in business for myself at the moment is that someone pays me just enough to keep me employed running a piece of theirs. I’ve got some irons in the fire and will probably change that in the next few years though.

THis is the system as it exists. Yes they helped make it as do all powerful people. Like it or not.

Not sure as to how owner operator crosses over to having a building/employees/a fleet (how many is a fleet...???) and the insanity that is put upon us by big brother. I know a few OO's and there is a lot involved.
I am sure there are some similarity's and if you did it properly there were some tax breaks/bennies for you in that mix.

 

[chocktaw2]

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.

You need to take a trip, and chill the F out.

 

[rooster]

THis is the system as it exists

This is why my OP was “this is everything that’s wrong with the tax system”

surely the system could be changed so that the the extremely wealth pay a proportional amount as you and I to support .gov as the extremely wealthy do without causing a complete blowout of the system.

 

[churchmouse]

This is why my OP was “this is everything that’s wrong with the tax system”

surely the system could be changed so that the the extremely wealth pay a proportional amount as you and I to support .gov as the extremely wealthy do without causing a complete blowout of the system.

The business pays the freight. We pay the business. They ride the waves generated by both.

Hell I hate the CF tax code. Hate it. But, as with everything government we have let all this crap slide into place and now we are stuck.

 

[DoggyDaddy]

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

If it's truly to benefit the educational aspect of the school system, then that's one thing. When it's to fund lavish football stadiums and gymnasiums that rival those of elite colleges and professional sports teams, not so much.

 

[churchmouse]

If it's truly to benefit the educational aspect of the school system, then that's one thing. When it's to fund lavish football stadiums and gymnasiums that rival those of elite colleges and professional sports teams, not so much.

These are part of the graft involved in the system. Have you seen the contracts on these palaces. I have. The Local fitters union loves doing school work. It "Pays" huge money. The contractors are usually heavy campaign supporters (go figure) and all that tax money crosses many palms with Silver and Gold.

 

[wtburnette]

If done right, I'd support a flat tax. Like that would ever happen .

Sent from my SM-N975U using Tapatalk

This. Stop crying about the freaking tax system we have because it's completely broken and is heavily abused. You know why the rich don't pay their fair share? Because the tax code is written that way and they have lawyers who find all the loopholes. Instead of being mad at the rich, be made at our government for continuing to allow this to continue. Vote in politicians who'll push for a flat tax like the fair tax or whatever. No tax at all except sales tax set to a specific rate and everyone pays the same. No loopholes, no BS. It's been shown that we would, on average, have to pay less per individual, as people making their money via illicit gains will then be paying their fair share as well. Gangs, drug lords, pimps, etc. If you buy something you pay taxes like everyone else. Yes, they pay sales tax now, but when sales tax is the only tax, they would be paying more. Due to that, everyone pays a bit less and we actually have a more "fair" tax system. Plus the added benefit is that you don't have to pay an accountant or buy a program every year to do your taxes...

 

[Expat]

I remember when President Reagan wanted to move to a true flat tax. He said Americans should be able to do their tax return on a post card. It quickly morphed from there as the politicians get too much money from special interests. Charities came out of the woodwork, you hate Christians, you hate helping poor people. Next the realtors, you hate home ownership, you're racist... So he nibbled at the margins but didn't get done what he originally wanted.

 

[Leo]

The whole tax system is far too complex and cumbersome. All of the complexity was evolved over the years to generate loopholes and political gain. Flat tax would be so much more streamlined. No deductions, for anything. If you have one kid or ten kids, that is your choice. If you spent your money on wine, women and song, or on appreciating assets, that is up to you. The wise should not be punished for their self discipline.

A flat income tax with no deductions could eliminate tax day filing for hourly workers. If you made $300 or $3500 this payday, the tax would be taken out and you would be done. As today's tax code is, millions of hours of life and multiple millions in accounting costs is chewed up chasing $10 bills.

The way we do taxes today is also deceptive. Few people realize we are paying Well above 60% taxes by the time we add the hidden taxes to the normal taxes that you see on your W-2. The bullies that used to steal my lunch money took a smaller percentage than the government. A flat income tax or as the above mentioned, a flat sales tax could work.

I don't care for Bezos and I believe there is a lot hidden about how the government keeps subsidizing his business than we know. In this matter, if the government makes a law, how can anyone be faulted for accepting the benefit?

 

[IndyDave1776]

I have a suggestion: If 10% is good enough for God it should be good enough for government.

 

[phylodog]

I've never really understood fixating on what other people do when it has nothing to do with me. Do the insanely wealthy do what they can to reduce the amount the government steals from them? Of course they do, just like everyone else does. I get where some feel that the wealthy should pay more than the middle class but I have a tough time wasting my time worrying about it.

How many people does the company Bezos created employ? How much tax revenue is generated by Amazon? How much do all of the employees pay in taxes each year? Do any of us actually know the intricacies of other people's income/taxes/investments/etc? I know I don't nor is it really any of my business.

Life is too short to waste it searching for things to be unhappy about. Life ain't fair, never has been and never will be. Attempts to make it fair are exactly what has landed this country in this sorry state of affairs we find ourselves in now. I don't give two shits about Jeff Bezos, Bill Gates or anyone like them. I appreciate their contributions and wish them well in their attempts to get ****ed as little as possible by the government (just like everyone else) and if I were in their shoes I'd be doing the same thing and find it pretty difficult to believe we have anyone on this forum who would sign over millions of dollars to the government out of some sense of moral responsibility to do so.

At this point it isn't like taxes have anything to do with spending these days so who cares? It ain't like the government is wringing its hands trying to find more money to pay the rent. They create it out of thin air, it's all make believe, close to meaningless and soon will be worthless.

I'm sure the people in Pakistan using millions of our tax dollars for their gender studies research could do sooooo much more if Bezos would just pay another million or two each year.

 

[Pepi]

I can just imagine seeing Bezos sitting down with TurboTax doing his taxes He has no idea what his accountants do. They follow the laws and LOOPHOLES. As long as he is getting RICHER is all he cares about.

 

[phylodog]

https://www.cbsnews.com/news/charity-donations-richest-lowest-9-years/

Things like this may have a "slight" affect on what he pays in taxes. While I would have chosen something a little more worthy, the dude gives away more money in a year than I'll make in 12 lifetimes. I have a difficult time labeling the man a villain because he has built himself an empire.

 

[IndyDave1776]

I've never really understood fixating on what other people do when it has nothing to do with me. Do the insanely wealthy do what they can to reduce the amount the government steals from them? Of course they do, just like everyone else does. I get where some feel that the wealthy should pay more than the middle class but I have a tough time wasting my time worrying about it.

How many people does the company Bezos created employ? How much tax revenue is generated by Amazon? How much do all of the employees pay in taxes each year? Do any of us actually know the intricacies of other people's income/taxes/investments/etc? I know I don't nor is it really any of my business.

Life is too short to waste it searching for things to be unhappy about. Life ain't fair, never has been and never will be. Attempts to make it fair are exactly what has landed this country in this sorry state of affairs we find ourselves in now. I don't give two shits about Jeff Bezos, Bill Gates or anyone like them. I appreciate their contributions and wish them well in their attempts to get ****ed as little as possible by the government (just like everyone else) and if I were in their shoes I'd be doing the same thing and find it pretty difficult to believe we have anyone on this forum who would sign over millions of dollars to the government out of some sense of moral responsibility to do so.

At this point it isn't like taxes have anything to do with spending these days so who cares? It ain't like the government is wringing its hands trying to find more money to pay the rent. They create it out of thin air, it's all make believe, close to meaningless and soon will be worthless.

I'm sure the people in Pakistan using millions of our tax dollars for their gender studies research could do sooooo much more if Bezos would just pay another million or two each year.

Not only do all your arguments of principle apply well, it also goes hand in hand with an issue in my own life. When I consider all the neighbors, relatives, and assorted other busy bodies thst won't go away, I wish I had as much time to worry about my business as they apparently do.