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Old 11-05-2023, 09:03 PM
 
Location: Honolulu/DMV Area/NYC
30,676 posts, read 18,301,918 times
Reputation: 34549

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Quote:
Originally Posted by jabogitlu View Post
Agreed, who cares. If you're a billionaire and don't want to live in a certain state, more power to you. You have the same right to move around as I do. In the meantime, let's tax the capital gains of the people that live here just like we tax MY earned income.

The people who simp for billionaires to pay no taxes on the money that comes into their coffers are stupid and pathetic.
That's all good and well until you start losing a significant percentage of your tax base if these billionaires establish residency elsewhere. Guess who is actually going to be hurt by that? Hint: it ain't the billionaire class.
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Old 11-06-2023, 01:04 AM
 
Location: Seattle
7,543 posts, read 17,262,755 times
Reputation: 4883
What tax base? Do you mean property taxes? How many billionaires live in a city? I think we (Puget Sound) have more than most, and they all live in the Points. I don't see any impact to Seattle. Do you mean sales taxes? These folks can't really buy much more than everyone else, with the exception of some things like super yachts or hella fancy cars. A lot of those purchases probably aren't in Seattle, and I'm okay forfeiting the income from those that are. Or do you mean income taxes? Hah, we have barely just started to try to tax income other than earned income in Washington State. So, we've succeeded for a hundred years without their capital gains excise tax, if they really are so non-community minded, then let them go. We don't want folks like that in our community.

It benefits no one to pretend like we're being held hostage by the 700 or so US billionaires who are too evil to redistribute their income to the people who are dying all around the world. Get real. And grow up.
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Old 11-06-2023, 03:13 AM
 
368 posts, read 306,590 times
Reputation: 956
Quote:
Originally Posted by jabogitlu View Post
It benefits no one to pretend like we're being held hostage by the 700 or so US billionaires who are too evil to redistribute their income to the people who are dying all around the world. Get real. And grow up.
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Old 11-06-2023, 10:08 AM
 
Location: WA
5,473 posts, read 7,769,272 times
Reputation: 8580
Quote:
Originally Posted by jabogitlu View Post
What tax base? Do you mean property taxes? How many billionaires live in a city? I think we (Puget Sound) have more than most, and they all live in the Points. I don't see any impact to Seattle. Do you mean sales taxes? These folks can't really buy much more than everyone else, with the exception of some things like super yachts or hella fancy cars. A lot of those purchases probably aren't in Seattle, and I'm okay forfeiting the income from those that are. Or do you mean income taxes? Hah, we have barely just started to try to tax income other than earned income in Washington State. So, we've succeeded for a hundred years without their capital gains excise tax, if they really are so non-community minded, then let them go. We don't want folks like that in our community.

It benefits no one to pretend like we're being held hostage by the 700 or so US billionaires who are too evil to redistribute their income to the people who are dying all around the world. Get real. And grow up.
The only taxes Bezos pays is local property taxes to the city of Medina and sales tax if he actually ever buys something locally rather than have it shipped in.

If he remains the owner of his Medina house while living in Florida he keeps paying taxes whether or not he is living there. If he sells it the new owners pays taxes. Shrug.

He will be hit by the new capital gains tax. But that's new money. Getting rid of the capital gains tax just to keep Bezos in town doesn't accomplish anything.

The main taxes he pays are federal income taxes and those he will pay regardless of where he lives and the same amount will rebound back to Washington in the form of Federal programs regardless of whether he lives here or not.
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Old 11-06-2023, 11:48 AM
 
Location: Seattle
7,543 posts, read 17,262,755 times
Reputation: 4883
^ This person gets it. I can't give you more reputation points, unfortunately.
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Old 11-06-2023, 12:25 PM
 
Location: Independent Republic of Ballard
8,075 posts, read 8,388,048 times
Reputation: 6243
But he left his balls behind.
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Old 11-06-2023, 03:56 PM
 
Location: Seattle
8,182 posts, read 8,326,792 times
Reputation: 6001
Quote:
Originally Posted by CrazyDonkey View Post
But he left his balls behind.
Funny
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Old 11-06-2023, 09:41 PM
 
Location: Shawnee-on-Delaware, PA
8,106 posts, read 7,475,730 times
Reputation: 16384
Quote:
Originally Posted by texasdiver View Post
The only taxes Bezos pays is local property taxes to the city of Medina and sales tax if he actually ever buys something locally rather than have it shipped in.

If he remains the owner of his Medina house while living in Florida he keeps paying taxes whether or not he is living there. If he sells it the new owners pays taxes. Shrug.

He will be hit by the new capital gains tax. But that's new money. Getting rid of the capital gains tax just to keep Bezos in town doesn't accomplish anything.

The main taxes he pays are federal income taxes and those he will pay regardless of where he lives and the same amount will rebound back to Washington in the form of Federal programs regardless of whether he lives here or not.
Do billionaires pay income tax? I bet Bezos pays a lower rate than his secretary (yes, this is a callback to Warren Buffett's famous observation on capital gains rates vs. income tax rates).
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Old 11-06-2023, 10:07 PM
 
Location: North Seattle
609 posts, read 304,426 times
Reputation: 1002
If he left for tax reasons, good for him. It's irresponsible to let WA state bureaucrats and special interests squander more money at this time.
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Old 11-07-2023, 09:16 AM
 
Location: WA
5,473 posts, read 7,769,272 times
Reputation: 8580
Quote:
Originally Posted by jtab4994 View Post
Do billionaires pay income tax? I bet Bezos pays a lower rate than his secretary (yes, this is a callback to Warren Buffett's famous observation on capital gains rates vs. income tax rates).
Who knows how much income tax he pays.

But whatever the amount is, it has nothing to do with the city and state in which he resides.

And every other form of taxation that touches Bezos in Washington State is trivial by comparison.
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