The Goat Pen

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

In 2007, Jeff Bezos, then a multibillionaire and now the world’s richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011. In 2018, Tesla founder Elon Musk, the second-richest person in the world, also paid no federal income taxes.

Michael Bloomberg managed to do the same in recent years. Billionaire investor Carl Icahn did it twice. George Soros paid no federal income tax three years in a row.

ProPublica has obtained a vast trove of Internal Revenue Service data on the tax returns of thousands of the nation’s wealthiest people, covering more than 15 years. The data provides an unprecedented look inside the financial lives of America’s titans, including Warren Buffett, Bill Gates, Rupert Murdoch and Mark Zuckerberg. It shows not just their income and taxes, but also their investments, stock trades, gambling winnings and even the results of audits.

https://www.propublica.org/article/the- ... income-tax

yea I was just going to post that

I'm not sure I disagree with them. Regardless of what he is worth, if its all tied up in stock, he doesn't have access to it, and consequently, if the market tanks, he could lose billions. so its not really fair to have pay taxes on something that is essentially theorectical wealth, and he is claiming the dividends as income. Still being able to claim a loss on $46m of income is absurd

I personally would not want to pay tax on my 401K over the last 2 years with it being a roller coaster on its net worth

hedge wrote: ↑Tue Jun 08, 2021 11:50 am The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

In 2007, Jeff Bezos, then a multibillionaire and now the world’s richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011. In 2018, Tesla founder Elon Musk, the second-richest person in the world, also paid no federal income taxes.

Michael Bloomberg managed to do the same in recent years. Billionaire investor Carl Icahn did it twice. George Soros paid no federal income tax three years in a row.

ProPublica has obtained a vast trove of Internal Revenue Service data on the tax returns of thousands of the nation’s wealthiest people, covering more than 15 years. The data provides an unprecedented look inside the financial lives of America’s titans, including Warren Buffett, Bill Gates, Rupert Murdoch and Mark Zuckerberg. It shows not just their income and taxes, but also their investments, stock trades, gambling winnings and even the results of audits.

https://www.propublica.org/article/the- ... income-tax

You are not supposed to pay "income tax" on retirement savings or capital gains on stocks/bonds you have bought/own until you start to spend them. That is the way its supposed to be. I am not for sure what the law says or doesn't say on it. You would need to consult a tax lawyer on that, but its supposed to be an "income tax." If Jeff Bezos is sitting on $100 billion in Amazon stock that he isn't spending, then you aren't supposed to tax him on it (yet.) Stock is not income.

Now that said, inheritance is income. I don't have a problem with inheritance taxes. I never did. I think the GOP/conservatives have a loser planting a flag on that as part of their platform. I was really happy to see POTUS Trump not carry that flag. He was being smart.

That bitch Senator Warren and her "wealth tax" idea. Well that is just nuts, completely insane. She really needs to have her authority taken away from her. She needs to be voted out of office. Any kind of tax on accumulated wealth, well, that is just going to motivate people NOT to save. And that is anti-capitalist. Dems really need to reject her utterly.

Damn woman

Shhhhh. Nothing to see here.

https://www.cnn.com/2021/06/11/politics ... index.html

It’s refreshing to now have a President that stands up to Russia...

So much for him having dementia

No dementia at all...

Wow

Trump couldn't find Syria or Libya on a map if it was spelled out...

hedge wrote: ↑Thu Jun 17, 2021 1:28 pm Trump couldn't find Syria or Libya on a map if it was spelled out...

Trump is not the President anymore. Your senile great uncle is. And he still thinks its the 1960s. And you know why? Because anytime anyone other than Cardi-B asks him an interesting question, and he can't understand it, he responds

Our President wrote:Ah come on man

But Syria and Trump, I am quite sure that Trump could find Syria on a map. He was one to give the order to kill more Russians in one 4 hour battle in Syria than ALL the Russians killed by US GIs spanning 45 years of Cold War anywhere on the planet.

https://time.com/5237922/mike-pompeo-ru ... firmation/

You think your senile great uncle could have given that death order?

Obviously IB didn't catch Bidens press conference yesterday. Typical sheep.

"You think your senile great uncle could have given that death order?"

I wish he'd give your death order...

Also, Biden is younger than my uncle, much less any great uncle...

IB is still butthurt about the election

Jungle Rat wrote: ↑Thu Jun 17, 2021 9:14 pm Obviously IB didn't catch Bidens press conference yesterday. Typical sheep.

Sheep? Well this "typical sheep" saw this yesterday

https://apnews.com/article/george-floyd ... 60ed757f17

Did you see that? 50 cops, gone. They'd rather deliver pizzas than stop riots. I don't blame them. I guess community organizers and counsellors can go out and stop a riot in the street when the cops aren't on the beat.

Here is what is going to happen: at a certain point in the not-so-distant future, there will no longer be enough (or even any) cops around to deliver restraining orders. There will no longer be enough (or even any) cops around to remove the domestic violence headcase from a bad home situation. Women will be put in danger. Feminist centric people on the left and race based centric people on the left have a very-shaky democrat alliance rat. Very shaky. That alliance will only exist so long as there are cops that are around with a badge and a gun and a willingness to enforce the feminist imperative on a woman's will. When that is gone, where are the feminists (who rely completely and totally on government to make them whole) going to go? Are they going to cry to the Republicans?

I am a Republican. I love cops. I love cops even though I never-EVER need to call them. Ever. I don't call them but I love that they exist with guns and badges to make the world a safer place by enforcing the law (even laws that I don't totally agree with.) They have no use in my life but I know they are very useful in dire situations with grave danger, situations I never face because I hang with moral, law abiding people. But I do know that if I call them they will come to me first before they come to help you because they know I love them.

At the moments, cops are not feeling the love from feminists.

What I think is going to happen (as more and more cops quit and are NOT replaced) is the feminist-centric-left will no longer feel safe on the left. They will grudgingly (as women are increasingly beaten and murdered) start to support Republican policies if for no other reason than police protection. This is already starting to happen with the million+ youtubes online in the last year all focused on sex trafficking speeches. Who are those speeches for? They are not for race-based-left, that I promise you. Unlike a patriarch (who doesn't need ANY government) a feminist can not make herself whole. That can't happen. Feminism can ONLY exist with a very pro-active government policy cutting checks and spending money.

You wait rat. The world is changing very fast.

Jungle Rat wrote: ↑Fri Jun 18, 2021 9:56 am IB is still butthurt about the election

Yes. I am. I am not going to scream and complain about it. I will (instead) quietly, silently, almost reverently, continue to believe that your side cheated.

My side wants dead people removed from the voting rolls. That is the law. Your side does not. Your side is criminal.

I say all this because there is not a single thing (not one policy) that Biden approved/believed in that HRC didn't, or vice-versa. There wasn't any reason for a person who voted for Trump in 2016 to go out and vote for Biden in 2020, a reason they didn't have to vote for HRC in 2016.

The only rational, logical way, that Biden mathematically wins fair and square, is black men. That is it, black men. If black men either didn't vote for HRC in 2016 because she is a woman, and black men simply can't vote for a woman to be President, but they are willing to vote for Biden in 2020 because he was the Vice under their Presidential Prophet, then maybe the math works. But that just says really bad things about black men and their reasons for voting. Basically, it says that black men are (by their very nature) misogynist.

Always comes down to your hatred towards women huh IB. What did your mom do to you?

Cheated. Heh.

Jungle Rat wrote: ↑Fri Jun 18, 2021 11:37 am Always comes down to your hatred towards women huh IB. What did your mom do to you?

I LOVE women.

I HATE feminism.