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Interesting read, however a key point not raised in this interview is the US estate tax laws. The highest impact is the law that allows the estate to pass stock shares to beneficiaries WITHOUT pay and tax on the increase in value since the original purchase. What this means is Bezos' estate will pass 100% of wealth of Amazon shares to hi…
Interesting read, however a key point not raised in this interview is the US estate tax laws. The highest impact is the law that allows the estate to pass stock shares to beneficiaries WITHOUT pay and tax on the increase in value since the original purchase. What this means is Bezos' estate will pass 100% of wealth of Amazon shares to his kids without paying any tax. The price of the stock is adjusted to the "new owner" to reflect the price at the time the estate was settled. An example of this is Bezos buys Amazon stock option at $100. When he dies and stock is transferred to his kids, the value is reset at $1,000 (assuming this is stock price at the time) for the new owner and NO income tax is paid on the capital gain of $900 per share. This allows for 100% of wealth transfer intergenerationally with no taxes paid. The beneficiary will have to pay capital gains tax on the stock only when they sell it and their cost is $1,000, not the original value of $100.
Rich Republicans managed to get poor voters to support slashing the dreaded "death taxes", even though poor voters are never going to have to worry about estate taxes kicking in on what inheritance they're able to scrape together and leave behind.
To paraphrase John Steinbeck, poor Republican voters don't see themselves as an exploited working class, they see themselves as temporarily cash-strapped millionaires.
poor Republican voters see themselves as having a future. poor democrat voters see themselves needing a handout.
There's having a future, and then there's expecting to catapault from rags to riches any day now, so better vote against taxing the rich in preparation for the day the catapault kicks in.
You got it. Ain't optimism grand?
Not when it mutates into delusion.
See https://www.youtube.com/watch?v=K_LvRPX0rGY&ab_channel=FahQue
You ARE so full of it. You link to a CARTOON written by a hard-core "liberal" / "progressive" / whateverhewantstobecalled to pretend to exemplify the feelings of "poor republican voters" (your own words).
You are SO full of it.
Propaganda about propaganda. Bring on the Entergandament!