Re: Newly minted Democratic socialist congresswoman Alexandra Ocasio-Cortez says New Yorkers are 'ou
Why does billionaire Jeff Bezos get tax breaks that I wouldn't get if I started a company to compete with him? How do you call this a free market?
Sent from my HTC phone. Instaurare omnia in Christo.
Another great questions. Can I ask in true retrospect are the 1% really getting away with paying less taxes?
The Business is a Business is a Business right? So First and For most we dropped the tax bracket for business from 37% to 21% Oddly that is STILL WAY HIGHER, than the normal EVERYDAY tax bracket no?
What I mean is 24% and below is the actual Tax Bracket that all pay for incomes less than $250,000 Which most Americans actually fall under
So FOR YEARS Corporations where paying roughly 13% MORE per BRACKET than the normal run of the mill people. remember this only happened this year. US has had one of the HIGHEST Business taxes imposed world wide.
So NOW what does that 14% drop Do for business? does that mean 14% of money went straight to Bezos pocket, How about Koch brothers, Apple? Or Microsoft. It went straight to their pockets?
Likely it went either into reinvestment's or as TRUMP hoped income injected back into OUR economy, through expanded business, Bonuses and increase wages.
Secondly. SPECIFIC to individuals income. Remember business is a business.. now... Jeff Bezos got a 2% rate reduction, BUT he still pays 37% in taxes. Compared to again the 24% most Americans pay. he pays 11% MORE in taxes than MOST Americans do. WRITE off do NOT defeat actual cost.
here is a really simple example.
W2 worker Grosses $100,000 a year X 24% ($24,000 in taxes) Net take home is $76,000
1099 worker Grosses $100,000 less deductions- $80,0000 now they only pay 22% ($17,600) , Net take home $62,400
I know that this is a very simple example.... and its a little more complicated.
But if you can start to see the holes that I am trying to make that a person like yourself in comparison to a Jeff Bezos is NOT a fair assessment to income vs taxes.
NOW For the HELL of it.....
Lets say Bezos Has to Draw a Million dollar salary.
W2 - $1million, his Tax is 37% ($370,000 in taxes) Net $630,000 Take home , His taxes alone makes up for 15.5 People earning 100,000 a year.
WHY should he have to pay 13% more than any one else? Why CANT he keep his money he made? He does and draws the same from sales?
NOW here is the NEXT questions...What do these guys do with their money? HIDE it? What do you think he does with $630,000 a year or $52,500 a month income? Likely buy cars, Houses, Splurged at dinners where does that money go? To other businesses that pay employees and STATE Taxes.
Just because they keep more in their pocket does not mean they are hording it.
The funny part is with the Deductions for business it Entices us to SPEND more money to build up more writeoffs, when we spend locally it infuses/inject funds into the local economy....
37% to the Federal government.
But buy a $200,000 car at 7% sales tax thats $14,000 in sales tax alone...... So is it really unfair or are we just looking at people that got rich as unfair rather then what they are actually doing for our economy.
Totally my opinion and a lot of blanketing terms... but again trying to make it debatable.