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Old 07-23-2018, 02:47 PM   #101
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Re: Jeff Bezos Is Now Worth Over $150 Billion

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I'm thinking more like a substitute for an exercise program.
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Randomly saw this on Twitter, seems appropriate.

lol, not sure if you know the context of the latter but even before you posted it, that's instantly what the first post made me think of

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Old 07-23-2018, 02:55 PM   #102
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Re: Jeff Bezos Is Now Worth Over $150 Billion

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This would cost him personally a lot more than 20k x # of employees.
$20k was just a random number tossed out that would give all the employees an extra $10/hr, and obviously not every Amazon employee is being paid minimum wage so they wouldn't need to give extra money to salaried people already making decent money.
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Doing this would tank the stock and most of his wealth is tied to that stock price. These types of raises could easily cost him >50 billion personally.
Oh well, I guess we better keep subsidizing a gigantic company by paying for its employees' food stamps instead of expecting them to be able to pay their employees.

Walmart stock went up 5% in the weeks after they announced their raised minimum wage, btw.
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Old 07-23-2018, 03:11 PM   #103
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Re: Jeff Bezos Is Now Worth Over $150 Billion

If Bezos was to sell AMZN stock it would take the stock price down relative to where it would go if he continues to hold. The faster he sold the larger the impact would be so this would also decrease the value of the stock he sells and his net worth relative to the status quo.

The argument against him being able to keep this sort of wealth is an argument against concentrated business ownership. Why should an individual not be able to own a certain portion of a business they founded and still operate? What percentage of a business should an individual be able to control?

For anyone who believes he should be obligated to distribute this wealth, why do you not also ask that small business owners distribute their ownership stakes to charitable causes? Why should someone effectively be punished by having their stake diluted as they are more successful?
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Old 07-23-2018, 03:13 PM   #104
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Re: Jeff Bezos Is Now Worth Over $150 Billion

This is why you should have higher and higher marginal tax brackets (with no loopholes), all the way up to 90+%.
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Old 07-23-2018, 03:13 PM   #105
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Re: Jeff Bezos Is Now Worth Over $150 Billion

Draconian punishment
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Old 07-23-2018, 03:30 PM   #106
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Re: Jeff Bezos Is Now Worth Over $150 Billion

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This is why you should have higher and higher marginal tax brackets (with no loopholes), all the way up to 90+%.
on unrealized gains? then taxes get super lumpy. If the market goes down in a year then the rich who derive most of their income from investments don't pay taxes. if the housing market is positive then you owe a bill on your housing appreciation at the end of the year which many Americans would not budget for and not be able to pay.
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Old 07-23-2018, 03:59 PM   #107
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Re: Jeff Bezos Is Now Worth Over $150 Billion

Bezos cashed out a billion last November, so there's that at least, and he paid a lower rate on that than Warren Buffett's secretary pays.
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Old 07-23-2018, 04:06 PM   #108
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Re: Jeff Bezos Is Now Worth Over $150 Billion

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lol, not sure if you know the context of the latter but even before you posted it, that's instantly what the first post made me think of

Didn't know it was a joke. But c'mon, it's not a bad idea. The idea of being paid to exercise strikes me as better than paying to exercise, but there are some obvious downsides/complications. Even in the "gig" economy" it's difficult to imagine how an employer could efficiently manage employees working only 2 hours a day, and with a degree of flexibility. Also, moving sucks. The ideal would be like dog walking.
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Old 07-23-2018, 04:33 PM   #109
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Re: Jeff Bezos Is Now Worth Over $150 Billion

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Bezos cashed out a billion last November, so there's that at least, and he paid a lower rate on that than Warren Buffett's secretary pays.
He's planning on cashing out a billion a year to fund his rocket company.
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Old 07-23-2018, 04:49 PM   #110
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Re: Jeff Bezos Is Now Worth Over $150 Billion

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For anyone who believes he should be obligated to distribute this wealth, why do you not also ask that small business owners distribute their ownership stakes to charitable causes?
Do you seriously not understand why a small business owner is treated differently than someone owning $150 billions?
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Old 07-23-2018, 04:52 PM   #111
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Re: Jeff Bezos Is Now Worth Over $150 Billion

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on unrealized gains? then taxes get super lumpy. If the market goes down in a year then the rich who derive most of their income from investments don't pay taxes. if the housing market is positive then you owe a bill on your housing appreciation at the end of the year which many Americans would not budget for and not be able to pay.
Ok let's have an asset tax.
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Old 07-23-2018, 04:54 PM   #112
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Re: Jeff Bezos Is Now Worth Over $150 Billion

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This would cost him personally a lot more than 20k x # of employees.

Doing this would tank the stock and most of his wealth is tied to that stock price. These types of raises could easily cost him >50 billion personally.

Suppose that you're right and paying a bunch of struggling employees closer to the living wage would tank the company. Isn't the implication that such capitalist enterprises can't provide for their workers? Isn't that just a really really bad thing on the face of it?
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Old 07-23-2018, 04:58 PM   #113
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Re: Jeff Bezos Is Now Worth Over $150 Billion

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Do you seriously not understand why a small business owner is treated differently than someone owning $150 billions?
Well presumably he would have been treated like the small business owner when he started the company. If you tax assets then essentially you force control away from founders if their company is successful enough. In Bezos' case his entire net worth, including the liquid portions, have been derived from his CEO role and stake in Amazon as the founder and major equity holder.

But separately, why would it be ok to ask that someone who runs a really successful business cede more of that business to outsiders by being forced into taxes when the same people would be unnerved by forcing small business owners to cede stakes in their own companies in order to pay taxes on their assets?

I'm all for taxing income at a higher marginal rate but creating a structure that forces someone to relinquish their stake in the business is too far. Just tax it at a higher rate whenever he does sell.

Last edited by CalledDownLight; 07-23-2018 at 05:04 PM.
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Old 07-23-2018, 06:47 PM   #114
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Re: Jeff Bezos Is Now Worth Over $150 Billion

I don't necessarily disagree with CDL on that. Market cap is not really real. Aside from taxes, whether or not one person or company should be allowed to become that powerful is another matter from a democracy, freedom, or even if you ask Adam Smith, free market point of view.
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Old 07-24-2018, 06:33 PM   #115
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Re: Jeff Bezos Is Now Worth Over $150 Billion

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To put that in perspective, he could fix the Flint water issue 1800 times, end world hunger, and still have over $20 billion left over.

This brings up a few questions:
  • Does Bezos have a moral responsibility to use his wealth to help others?
  • If Bezos does, does that mean other billionaires also have that responsibility?
  • What would be the best usage of that money?
  • If you were Bezos, what would you do with your money?
  • Would giving out literally billions of dollars to various organizations, governments, and/or people actually make a difference?

If I were Bezos, I think I'd put about 1 billion away for myself and family - we would still be absurdly rich - and then use the rest to "fix" things.

But how to do that?

What would be some of the best ways to use all of this money for the good of the world?
to answer your questions in order. 1 no.2 no.3 doing whatever he wants with HIS money.4 doing whatever I want with my money 5 no. if i were bezos i think i would tell everybody else to take care of themselves and if they want a handout ask the democratic party for it. the best way to use all of his money for the good of the world is to invest it in more business so he can make more money while providing jobs for the people that do not have them. they used to call this trickle down economics. works pretty good when you don't have an economy that requires handouts for over half of the people. this was posted from my desktop

Last edited by becky88; 07-24-2018 at 06:33 PM. Reason: post position
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Old 07-24-2018, 07:13 PM   #116
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Re: Jeff Bezos Is Now Worth Over $150 Billion

Hey Becky,

What do you do for a living? How do you make your money? What are all of your sources of income?
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Old 07-24-2018, 07:22 PM   #117
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Re: Jeff Bezos Is Now Worth Over $150 Billion

lol trickle downers
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Old 07-24-2018, 07:47 PM   #118
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Re: Jeff Bezos Is Now Worth Over $150 Billion

becky i'm sorry to break this to you but trickle down economics is a fraud. literally the point of this thread is one man has 150 billion while the employees that build his wealth aren't paid a living wage.

to prove my point: it could be trickling down at any time! (if that's how it worked). it doesn't trickle down. you were lied to.
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Old 07-24-2018, 07:56 PM   #119
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Re: Jeff Bezos Is Now Worth Over $150 Billion

Becky88 is a neo-nazi. Seriously.

Sent from my Nexus 5X using Tapatalk
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Old 07-24-2018, 08:19 PM   #120
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Re: Jeff Bezos Is Now Worth Over $150 Billion

becky is the best troll to never get banned, if you look at their entire posting history it's wild.
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Old 07-24-2018, 10:12 PM   #121
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Re: Jeff Bezos Is Now Worth Over $150 Billion

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becky i'm sorry to break this to you but trickle down economics is a fraud. literally the point of this thread is one man has 150 billion while the employees that build his wealth aren't paid a living wage.
Amazon pays more than 150 billion dollars every year in employee salaries.
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Old 07-24-2018, 10:17 PM   #122
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Re: Jeff Bezos Is Now Worth Over $150 Billion

Their engineers who build AWS make a **** ton of money.
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Old 07-24-2018, 10:18 PM   #123
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Re: Jeff Bezos Is Now Worth Over $150 Billion

Bezos makes the median employee salary every 9 seconds
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Old 07-24-2018, 10:38 PM   #124
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Re: Jeff Bezos Is Now Worth Over $150 Billion

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Bezos makes the median employee salary every 9 seconds
Wat?
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Old 07-24-2018, 11:38 PM   #125
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Re: Jeff Bezos Is Now Worth Over $150 Billion

Taxing companies via stock is a good idea. Best to have a sovereign wealth fund to put them in though.
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