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TheFundamentals
4.3K posts
@maybespirit @FeroshusKitsu Gave me a reason and the reason is "women bad" geez thanks
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Because women tell others about it.
Neri🦋 VGen open ʚଓ ⋆.𐙚 ̊@nerinahazuki
My depressed guy friend won't talk unless I reach out first. Why do guys always try to handle everything alone?
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@gabriel_zucman Where in this image do you show taxes he pays “indirectly through Amazon” ?
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Your personal case is a good illustration of the problem with the US tax system.
Based on public data it is possible to estimate your total effective tax rate: the total amount of tax you pay personally plus indirectly through Amazon, relative to your income.
Your total effective tax rate was just 15% in 2018.
Meanwhile, the average person in the US pays around 30% of their income in taxes.
gabriel-zucman.eu/files/SaezZucm…
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Hello @JeffBezos, since you question the results of our studies on the unfairness of the US tax system, please allow me to remind you of the main conclusions of our work, the most comprehensive research to date on this issue.
Jeff Bezos@JeffBezos
Yes, the United States has the most progressive tax system in the world. The top 1% pay 40% of taxes, the bottom 50% pay 3% of taxes. We can make it even more progressive by zeroing out taxes on the bottom half. It’s a small amount of the total tax revenue but very meaningful to people in this group.
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@samswey A 1% wealth tax on America’s 900 billionaires would require money from everyone but the billionaires to be used to liquidate the holdings.
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A 1% wealth tax on America’s 900 billionaires would raise more tax revenue than all the income taxes paid by people making less than $50,000 combined.
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@NikkiMcR How does Jess Bezos hoard the value of production?
Amazon literally spends all of its money on workers and growth. It doesn’t pay dividends.
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Best way to put money in someone’s pocket is to pay them a fair wage and not hoard the value of their production while claiming taxation is too much of a burden on you
Jeff Bezos@JeffBezos
Thank you. The important part is zeroing out taxes on the bottom half. Best way to put money in someone’s pocket is to not take it out in the first place. Bottom half is only 3% of total tax revenue. But it’s very meaningful to that person. Zero it out.
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The second order effects of this would be disastrous. Bezos knows this—he’s just trying to deflect criticism.
It’s not about the 3% of tax revenue.
Every voter needs skin in the game and needs to feel the sting of government spending. Otherwise, they’ll only vote for more.
Jeff Bezos@JeffBezos
Thank you. The important part is zeroing out taxes on the bottom half. Best way to put money in someone’s pocket is to not take it out in the first place. Bottom half is only 3% of total tax revenue. But it’s very meaningful to that person. Zero it out.
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@alz_zyd_ If your contribution to knowledge comprises of unsubstantiated nonsense that you are trying to legitimize via hallucinated citations, I would argue the criticism is valid.
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@drmtgr @WeebRetard I do know what it's about and plenty of areas of academia are rife with subpar publications and/or suffer from a "replication crisis". Scrutinizing the approach of relying on trust is not unreasonable at all. This isn't a comment on the specific academic above.
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@WeebRetard It's naive really. It's like people who think "peer reviewed" means "checked, double checked, and verified". It doesn't at all. Things don't work the way you think they do, and it's perfectly fine as long as people know what it's about
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How funny it is that people dunking on her are (a) people who have no idea of the quality of her work and (b) people with absolutely no experience of how academia and citations work
Hunter Ash@ArtemisConsort
Academics are now openly defending the practice of citing papers they haven’t read.
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@LibertyLog1776 @RealMamaluke @sircalebhammer That’s his entire point. It’s not worth collecting. You’re better off leaving it in the hands of people who need it the most.
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@RealMamaluke @sircalebhammer It's nearly a rounding error. You sound like Elizabeth Warren thinking that her 1/128 native ancestry is some kind of gotcha.
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Good policy to be popular. Worst policy to have any social systems similar to Europe that everyone seems to beg for.
Kalshi@Kalshi
JUST IN: Jeff Bezos says bottom half of workers should not pay taxes
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No. When Jeff Bezos pays a lower tax rate than a truck driver, the tax code is not progressive. It's rigged.
Jeff Bezos
Worth: $279 billion
Tax Rate: 0.98%
Truck Driver
Income: $63,890
Tax Rate 8.4%
Teacher
Income: $69,860
Tax Rate: 9.8%
Nurse
Income: $98,430
Tax Rate: 13.3%
Jeff Bezos@JeffBezos
Yes, the United States has the most progressive tax system in the world. The top 1% pay 40% of taxes, the bottom 50% pay 3% of taxes. We can make it even more progressive by zeroing out taxes on the bottom half. It’s a small amount of the total tax revenue but very meaningful to people in this group.
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@danielsgoldman @JeffBezos No it wouldn’t, since your bill states that the tax would only apply to people making over 400k annually.
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Truly remarkable statement from the guy with $276 billion who paid a true tax rate of .98% in 2019.
My ROBINHOOD Act would tax the loans @JeffBezos and his billionaire buddies borrow against their stock to avoid taxes altogether.
It would generate $30 billion a year — more than enough to fund universal childcare for “that teacher in Queens” and parents across the country.
More Perfect Union@MorePerfectUS
Jeff Bezos on CNBC: "If people want me to pay more billions, then let's have that debate, but don't pretend that that's gonna solve the problem. You could double the taxes I pay, and it's not gonna help that teacher in Queens.... Airbnb isn't causing high rents. What's really causing high rent is government intervention."
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@MelatKirosCO @Ivantheboomer And whose money is going to be buying Bezos’ stocks?
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He’s right bc we tax income, not wealth.
Bezos takes out a tiny salary, pays the income tax, and lives off loans borrowed against his stocks, basically tax free. They all do this and now 935 billionaires hold more wealth than 170 million Americans.
It’s time to tax wealth.
Aaron Rupar@atrupar
Bezos on CNBC: "You could double the taxes I pay, and it's not gonna help that teacher in Queens. I promise you."
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@JohnRileyPoway @TomSteyer @JeffBezos You don’t have to tell him. He knows. He omitted the facts that matter intentionally.
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@TomSteyer @JeffBezos Back in the 1950s, the effective tax rate for the Top 1% was roughly around what the Top 1% pay today. The highest marginal tax rate might have been around 90%, but that was before deductions, tax shelters and loopholes.
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For decades, the top tax rate on the wealthiest Americans — like @JeffBezos — was much higher than it is today.
What did we do with that money? We built roads and bridges, expanded healthcare, and invested in education. We grew the middle class.
Care about economic growth? Tax billionaires.
Jeff Bezos@JeffBezos
Yes, the United States has the most progressive tax system in the world. The top 1% pay 40% of taxes, the bottom 50% pay 3% of taxes. We can make it even more progressive by zeroing out taxes on the bottom half. It’s a small amount of the total tax revenue but very meaningful to people in this group.
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@Scott_Wiener His corporation does not pay dividends. Literally all of its money is spent on the workers, growth (more workers) and taxes.
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That’s certainly a take. Another take is the wealthiest & corporations paying their fair share will help fund schools & raise teacher salaries.
Aaron Rupar@atrupar
Bezos on CNBC: "You could double the taxes I pay, and it's not gonna help that teacher in Queens. I promise you."
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@ewarren The wealth is more beneficial to the people while in his hands, not yours Elisabeth. So no.
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Jeff, how about a two-cent wealth tax?
Aaron Rupar@atrupar
Bezos on CNBC: "You could double the taxes I pay, and it's not gonna help that teacher in Queens. I promise you."
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@DarrigoMelanie All of amazon’s revenue gets paid to the workers or gets invested into growing the company and hiring more workers. Where exactly is the money going to come from?
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70-80% of Amazon workers fall into the bottom 50% of workers.
Instead of paying them more, he’d rather just not have them pay taxes.
GURGAVIN@gurgavin
*JEFF BEZOS : BOTTOM HALF OF WORKERS SHOULD PAY ZERO TAXES
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@herosnvrdie69 And where would the additional money you intend to pay the workers come from if not the consumer?
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One third of Amazon workers are on government assistance because you don’t pay them enough. We are fully subsidizing the labor for your trillion dollar company. You are a parasite.
Jeff Bezos@JeffBezos
Thanks. And it would help a lot of people to zero out taxes on the bottom half.
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@eisingerj You are including amazon’s value in his wealth, but not amazon’s taxes in what he pays. How come?
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The facts:
-Bezos paid $0 fed'l income tax in 2007
-He paid $0 in '11
-Btn '14-19, his wealth grew by $99 BILLION and he paid $973 million in taxes.
Sounds like a lot but it's 0.98% of his wealth growth (which is his true income).
Squawk Box@SquawkCNBC
"People sometimes say that I don't pay taxes. It's not true. I paid billions of dollars in taxes," says @JeffBezos. "That's not going to solve the problem. You could double the taxes I pay and it's not going to help that teacher in Queens."
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This is being viewed as a benevolent billionaire when in reality he’s saying the bottom 50% already pay so little in taxes it’s basically irrelevant.
Watcher.Guru@WatcherGuru
JUST IN: 🇺🇸 Billionaire Jeff Bezos says the bottom half of US workers should pay zero income tax.
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