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How Jeff Bezos considered himself poor to collect baby bonuses

How Jeff Bezos considered himself poor to collect baby bonuses

The data, evaluated by the American portal பPrabblica, refutes a claim made repeatedly in the United States to protect the American version of capitalism. It goes like this: Everyone pays their fair share of contributions to the community in the end – small incomes and multi-billionaires.

A lot of information over the last few decades has pointed out that this is a myth: Inequality in the United States has grown faster than elsewhere. Many entrepreneurs elsewhere are incredibly rich in the United States. But what part of the rise of Amazon founder Jeff Bezos is due to his business idea, the dynamics of the company – and to what extent due to the injustice of the American tax system?

The “Proplica” portal is now able to calculate it correctly (you can find it here) Report). This is made possible by the treasure trove of data leaked to the portal. It comes from US tax authority IRS funds. It also includes data that could be used to restructure how much of America’s super-rich have paid taxes in recent years. Spoiler: It’s not much.

The class struggle won by the super rich

Take Bezos for example: his fortunes exploded between 2014 and 2018. It rose to $ 99 billion during this period. At the moment, however, entrepreneurs have paid only $ 973 million in taxes, which makes up the narrow average tax rate of 0.98 percent. Notable: In 2011, Bezos calculated that he was “in need”: because according to the tax revenue he spent more than he earned, he was able to borrow 4 4,000 for his children, according to “Problica”.

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The portal not only determines the declared income in respect of the amount of tax paid, but also adds to the increase in assets, for example due to the increase in the price of the company’s investments. Researchers have made estimates for the country’s 25 richest billionaires. There are many important names in them. For example, Tesla CEO Elon Musk recently paid only $ 455 million, increasing his asset value by $ 13.9 billion. Investor legend Warren Buffett’s case is even more blatant: he paid only 0.1 percent tax on his net asset profit of $ 24.3 billion.

Buffett had already declared ten years ago that the tax system was unjust: let the government use itself for the benefit of billionaires like him, which is “the class struggle for my class wages and victories.” Even then, Puppet published his taxable income based on his own income.

Puppet showed himself with a Detailed explanation Especially obvious. Under the current law he pays what he owes to the state. Unfortunately it is very low. He is sticking to his position that the tax law should be significantly amended.