Notes

Our Elon Musk, Jeff Bezos, other US billionaires paid little or no Ideas


<h1 style="clear:both" id="content-section-0">The How the Billionaires Income Tax Would Work - WSJ PDFs<br></h1>
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<p class="p__0">When they do, they get paid and they get taxed. The federal government thinks about almost every dollar employees make to be "earnings," and employers take taxes directly out of their incomes. The Bezoses of the world have no need to be paid a wage. Bezos' Amazon wages have long been set at the middle-class level of around $80,000 a year.</p>
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<p class="p__1">Steve Jobs took $1 in income when he went back to Apple in the 1990s. Facebook's Zuckerberg, Oracle's Larry Ellison and Google's Larry Page have all done the exact same. Yet this is not the self-effacing gesture it appears to be: Salaries are taxed at a high rate. The top 25 most affluent Americans reported $158 million in incomes in 2018, according to the internal revenue service data.</p>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://arc-anglerfish-washpost-prod-washpost.s3.amazonaws.com/public/5IVXRL4MUBEH7ER2IOAGISRXGQ.png" alt="Substantial Income of Wealthy Households Escapes Annual Taxation Or Enjoys Special Tax Breaks - Center on Budget and Policy Priorities"><span style="display:none" itemprop="caption">Never Sell Assets And Pay Less In Taxes Like Billionaires</span>
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<h1 style="clear:both" id="content-section-1">Unknown Facts About Wyden Unveils Billionaires Income Tax - Chairman's News<br><img width="395" src="https://www.dailyherald.com/storyimage/DA/20140320/business/140329904/AR/0/AR-140329904.jpg&amp;updated=201403200943&amp;imageversion=Facebook&amp;exactH=630&amp;exactW=1200&amp;exactfit=crop&amp;noborder"><br></h1>
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<p class="p__2">1% of what they noted on their tax return as their total reported income. The rest mostly originated from dividends and the sale of stock, bonds or other financial investments, which are taxed at lower rates than incomes. You Can Try This Source hang on to shares in the companies they have actually founded. Buffett, for instance, has famously held onto his stock in Berkshire Hathaway, the corporation that owns Geico, Duracell and stakes in American Express and Coca-Cola.</p>
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<p class="p__3">From 2015 through 2018, he reported yearly earnings ranging from $11. 6 million to $25 million. That may appear like a lot, but Buffett ranks as approximately the world's sixth-richest individual he's worth $110 billion since Forbes' quote in Might 2021. A minimum of 14,000 U.S. taxpayers in 2015 reported higher income than him, according to internal revenue service data.</p>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://americansfortaxfairness.org/wp-content/uploads/Screen-Shot-2020-09-29-at-7.58.05-PM.png" alt="ProPublica tax leak story: IRS files show how billionaires pay low tax"><span style="display:none" itemprop="caption">MOST YEARS OVER THE PAST 20, BILLIONAIRE TRUMP PAID LESS IN TAXES THAN NURSES &amp; TEACHERS - Americans For Tax Fairness</span>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://bostonglobe-prod.cdn.arcpublishing.com/resizer/3KDZ8e_5rYKJp6CVrllmK0UV0XA=/1440x0/arc-anglerfish-arc2-prod-bostonglobe.s3.amazonaws.com/public/U7XATGHPMII6PKBFXMKJE6OC2U.jpg" alt="IT'S OK IF BILLIONAIRES PAY LESS' TAK THAN ME! USING TAX LOOPHOLES JUST MAKES THEM SMARTDONT THE BLAME THE EXTRA WEALTH WILL TRICKLE DOWN AND CREATE MORE JOBS ANYWAYS: - )"><span style="display:none" itemprop="caption">ProPublica tax leak story: IRS files show how billionaires pay low tax</span>
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<h2 style="clear:both" id="content-section-2">The 2-Minute Rule for For first time ever, US billionaires pay lower tax rate than<br></h2>
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<p class="p__4">Berkshire does not pay a dividend, the sum (a piece of the revenues, in theory) that many business pay each quarter to those who own their stock. Buffett has always argued that it is much better to utilize that cash to discover financial investments for Berkshire that will further enhance the worth of shares held by him and other investors.</p>
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