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Report Cites Confidential IRS Data To Reveal Tax Histories Of Elon Musk, Jeff Bezos, Other Billionaires
Benzinga ^
| June 8, 2021
| Phil Hall
Posted on 06/08/2021 11:03:43 AM PDT by SunkenCiv
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1
posted on
06/08/2021 11:03:43 AM PDT
by
SunkenCiv
To: AdmSmith; AnonymousConservative; Arthur Wildfire! March; Berosus; Bockscar; cardinal4; ColdOne; ...
What's ProPublica's FR nick?
2
posted on
06/08/2021 11:05:19 AM PDT
by
SunkenCiv
(Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
To: SunkenCiv
The more impressive figures are those reflecting tax rate on earnings (rather than growth in value).
WB = 19%
JB=23%
MB=3%
EM=30%
Musk needs to higher Bloomberg's accountant.
3
posted on
06/08/2021 11:06:27 AM PDT
by
G Larry
(Force the Universities to use their TAX FREE ENDOWMENTS to pay off Student loan debt!!!)
To: SunkenCiv
How the nonprofit gained this data is unclear, since ProPublica acknowledged this data is confidential. I have no love for Jeff Bezos, but isn't it interesting how America's permanent deep state apparatchiks at IRS, FBI, DOJ, etc.. have no problem leaking information which furthers a political narrative.
4
posted on
06/08/2021 11:07:21 AM PDT
by
PGR88
To: PGR88
The Nazis had no idea they were actually democrats....
5
posted on
06/08/2021 11:10:19 AM PDT
by
Hambone 1934
(Dems love playing Nazis.....The republicans love helping them)
To: SunkenCiv
Leftist uber rich like Bezos favor increased income tax because it has a chilling effect on the entrepreneurial spirit. Robber barons like Bezos fear competition and high income taxes serves to abort nascent capital.
To: SunkenCiv
And who, pray tell, writes those tax loop holes?
7
posted on
06/08/2021 11:13:34 AM PDT
by
airborne
(Thank you Rush for helping me find FreeRepublic! )
To: PGR88
Imagine how much worse those companies would run if steered by anyone from FBI, DOJ or other government hackarama.
8
posted on
06/08/2021 11:15:23 AM PDT
by
Track9
(Dealing with democrats is like living without toilet paper. )
To: SunkenCiv
Some people pay zero income tax on their Form 1040 but pay a lot of Alternative Minimum Tax.
To: SunkenCiv
You don't pay taxes from the value of your stock holdings merely growing. You pay taxes when you sell the stock and subtract how much you paid for the stock and other factors.
To: SunkenCiv
...Musk's wealth grew by $13.9 billion between 2014 and 2018 and he reported total income of $1.52 billion, or 10.94% of this wealth, and paid $455 million, or 3.27% of his wealth. Misleading and a little silly. When one pays income tax, you pay tax on income not wealth. It looks like Musk paid about 1/3 of his income in taxes between the years stated. Hardly a scandal.
11
posted on
06/08/2021 11:39:46 AM PDT
by
Blennos
( )
To: PGR88; Hambone 1934; Track9
Don't worry, I'm sure the DOJ will immediately investigate the IRS, or maybe get the Manhattan DA to do it. /s
12
posted on
06/08/2021 11:58:54 AM PDT
by
SunkenCiv
(Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
To: airborne
They aren’t loopholes.
And the tax code wasn’t written by Bezos, Musk, Buffet, or even Little Mikey RINO.
But I think I understand the spirit in which your comment was meant.
The Demagogic Party is a collection of violent rival street gangs.
13
posted on
06/08/2021 12:00:59 PM PDT
by
SunkenCiv
(Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
To: SunkenCiv
So wait, are they following the laws, as written? Yes?
If you want to take more money from people, you have to write that in the law. When the law you wrote doesn’t say what you thought it said, or doesn’t do what you wanted it to do, it’s a failure of the legislature. You can’t blame people who are trying to avoid handing over money they don’t have to under the law.
No one should ever pay any more taxes than they are legally obligated to pay.
14
posted on
06/08/2021 12:02:19 PM PDT
by
2aProtectsTheRest
(The media is banging the fear drum enough. Don't help them do it.)
To: forgotten man
Well said. And career politicians, many of whom are silver-spoon types, avoid AMT by spoofing their income figures while enjoying junkets, serving for stipends on “not-profit” boards to get the untaxed use of private jets and other perks...
15
posted on
06/08/2021 12:03:17 PM PDT
by
SunkenCiv
(Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
To: SmokingJoe; Blennos; 2aProtectsTheRest
Yes, and you're all late for the choir practice.
16
posted on
06/08/2021 12:06:55 PM PDT
by
SunkenCiv
(Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
To: G Larry
Musk needs to higher Rogan’s dealer. Oh, sorry.
17
posted on
06/08/2021 12:08:03 PM PDT
by
SunkenCiv
(Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
To: SunkenCiv
The people I was referring to regarding the writing of the loophes are the politicians.
Tax brackets would have been a more accurate choice of words.
Sorry for any confusion.
18
posted on
06/08/2021 12:15:32 PM PDT
by
airborne
(Thank you Rush for helping me find FreeRepublic! )
To: Blennos
Misleading and a little silly. When one pays income tax, you pay tax on income not wealth. It looks like Musk paid about 1/3 of his income in taxes between the years stated. Hardly a scandal. Correct.
The whole article is an exercise in manufactured outrage and fake news. Not to mention breaking the law by illegally obtaining the tax returns of 0privateindividuals.
To: airborne
The same people Trump donated to for decades that allowed him to pay the same amount as these guys -or what-$750 one year? And few on FR had a problem then. So nobody should have a problem now.
20
posted on
06/08/2021 12:48:21 PM PDT
by
NELSON111
(Congress: The Ralph Wolf and Sam Sheepdog show. Theater for sheep. My politics determines my "hero")
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