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Man its really annoying to see people constantly make up this whole "rich people dont pay taxes" nonsense.. If you review their actual tax records you'll see Elon paid about 1/3 of his income as taxes and Bezos about 1/4, which is actually quite high. But yea lets just make shit up instead and manipulate the numbers to show some "true" tax rate that is really just some fantasy as close to 0 as we can distort, cant just make up fake numbers and think its useful to addressing any problems that might exist.
@freemo but the issue isn't the taxes paid vs the reported income. The issue is that the reported income is so much less then the wealth growth.
Yes Bezos paid about 1/4 of his reported income in taxes, which I guess would be his "actual tax records", but his reported (taxable) income is only about 4% of what he actually made.
That is the issue at hand. That these mechanisms are in place that allow for the taxable income tobe a small fraction of their actual income.
@ejg Can you be more specific. What source of income does he have that is 25x greater than the one he reported and doesnt show as income?
@FailForward @freemo @ejg
In France we used to have a tax on absolute wealth, it has been transformed and now has become a tax on real estate wealth only and starts when you own above 1 Million € of real estate
That's a scary precedence to say the least. The very fact that people think someone owning a lot is somehow a problem that needs to be corrected is already worrisome in its own right. Wealth is not a pie, someone having more doesnt mean you have less. Its not a zero sum game.
@freemo @FailForward @ejg
The idea behind this tax was that you need to make money out of your wealth otherwise it will deflate. It is supposed to limit speculation in some way.