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Jeff Bezos

 
MrRon
 
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MrRon
Total Posts:  1653
Joined  14-08-2008
 
 
 
04 October 2018 16:38
 

I just saw on the news that Bezos’s current net worth is estimated at $161.1 billion dollars. I don’t think he’ll have any problems paying his workers $15 an hour.

To put things in perspective, it takes approximately 11 days to count 1 million dollars (at the rate of 1 dollar every second). It takes about 32 years to count 1 billion dollars. To count his 161 billion dollar fortune would take roughly five thousand years!

Also, assuming a simple interest rate of 1 percent, his money can just sit there in a regular savings account and earn him about 25 million dollars per week! Of course, I imagine his actual earnings are significantly higher than that.

Incredible!

Ron

 
EN
 
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EN
Total Posts:  20872
Joined  11-03-2007
 
 
 
04 October 2018 19:23
 

There is a problem taxing net worth, as it is a moving and subjective target.  How would you fairly tax Bezos?  A fair system would give him credit for his creativity and innovation, but fairly share the wealth with those without whom he would be worth nothing.

 
GAD
 
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GAD
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04 October 2018 19:52
 
MrRon - 04 October 2018 04:38 PM

I just saw on the news that Bezos’s current net worth is estimated at $161.1 billion dollars. I don’t think he’ll have any problems paying his workers $15 an hour.

To put things in perspective, it takes approximately 11 days to count 1 million dollars (at the rate of 1 dollar every second). It takes about 32 years to count 1 billion dollars. To count his 161 billion dollar fortune would take roughly five thousand years!

Also, assuming a simple interest rate of 1 percent, his money can just sit there in a regular savings account and earn him about 25 million dollars per week! Of course, I imagine his actual earnings are significantly higher than that.

Incredible!

Ron

It’s in stock, he owns 16% of Amazon, you know the company he founded. The value is driven by the market, you know everyone who invests in stock, not interest or salary which is tiny.

[ Edited: 04 October 2018 19:59 by GAD]
 
 
Twissel
 
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Twissel
Total Posts:  2594
Joined  19-01-2015
 
 
 
04 October 2018 20:56
 

If we consider the teachings of the Prosperity Gospel, Bezos is the second coming of Jesus.
So hands off!

 
 
MrRon
 
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MrRon
Total Posts:  1653
Joined  14-08-2008
 
 
 
05 October 2018 03:08
 
GAD - 04 October 2018 07:52 PM
MrRon - 04 October 2018 04:38 PM

I just saw on the news that Bezos’s current net worth is estimated at $161.1 billion dollars. I don’t think he’ll have any problems paying his workers $15 an hour.

To put things in perspective, it takes approximately 11 days to count 1 million dollars (at the rate of 1 dollar every second). It takes about 32 years to count 1 billion dollars. To count his 161 billion dollar fortune would take roughly five thousand years!

Also, assuming a simple interest rate of 1 percent, his money can just sit there in a regular savings account and earn him about 25 million dollars per week! Of course, I imagine his actual earnings are significantly higher than that.

Incredible!

Ron

It’s in stock, he owns 16% of Amazon, you know the company he founded. The value is driven by the market, you know everyone who invests in stock, not interest or salary which is tiny.

Understood. I wasn’t so much making a statement about the nature of his holdings as I was trying to put such large numbers in perspective. We hear “millions” and “billions” so much these days I wanted to express them in other terms. That’s all.

Thanks.

Ron

 
mapadofu
 
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mapadofu
Total Posts:  541
Joined  20-07-2017
 
 
 
05 October 2018 05:43
 

He might want to consider diversifying his portfolio…

 
icehorse
 
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icehorse
Total Posts:  7024
Joined  22-02-2014
 
 
 
30 October 2018 07:35
 
GAD - 04 October 2018 07:52 PM
MrRon - 04 October 2018 04:38 PM

I just saw on the news that Bezos’s current net worth is estimated at $161.1 billion dollars. I don’t think he’ll have any problems paying his workers $15 an hour.

To put things in perspective, it takes approximately 11 days to count 1 million dollars (at the rate of 1 dollar every second). It takes about 32 years to count 1 billion dollars. To count his 161 billion dollar fortune would take roughly five thousand years!

Also, assuming a simple interest rate of 1 percent, his money can just sit there in a regular savings account and earn him about 25 million dollars per week! Of course, I imagine his actual earnings are significantly higher than that.

Incredible!

Ron

It’s in stock, he owns 16% of Amazon, you know the company he founded. The value is driven by the market, you know everyone who invests in stock, not interest or salary which is tiny.

And as things stand now, whenever he sells some stock, he will pay capital gains tax at a lower percentage than I pay on my income. Why should that be? Doesn’t his company benefit from the same roads and fire department and education system that I do?

 
 
GAD
 
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GAD
Total Posts:  17032
Joined  15-02-2008
 
 
 
30 October 2018 07:42
 
icehorse - 30 October 2018 07:35 AM
GAD - 04 October 2018 07:52 PM
MrRon - 04 October 2018 04:38 PM

I just saw on the news that Bezos’s current net worth is estimated at $161.1 billion dollars. I don’t think he’ll have any problems paying his workers $15 an hour.

To put things in perspective, it takes approximately 11 days to count 1 million dollars (at the rate of 1 dollar every second). It takes about 32 years to count 1 billion dollars. To count his 161 billion dollar fortune would take roughly five thousand years!

Also, assuming a simple interest rate of 1 percent, his money can just sit there in a regular savings account and earn him about 25 million dollars per week! Of course, I imagine his actual earnings are significantly higher than that.

Incredible!

Ron

It’s in stock, he owns 16% of Amazon, you know the company he founded. The value is driven by the market, you know everyone who invests in stock, not interest or salary which is tiny.

And as things stand now, whenever he sells some stock, he will pay capital gains tax at a lower percentage than I pay on my income. Why should that be? Doesn’t his company benefit from the same roads and fire department and education system that I do?

I fully support capital gains at lower taxes.

 

 
 
icehorse
 
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icehorse
Total Posts:  7024
Joined  22-02-2014
 
 
 
30 October 2018 07:49
 
GAD - 30 October 2018 07:42 AM
icehorse - 30 October 2018 07:35 AM
GAD - 04 October 2018 07:52 PM
MrRon - 04 October 2018 04:38 PM

I just saw on the news that Bezos’s current net worth is estimated at $161.1 billion dollars. I don’t think he’ll have any problems paying his workers $15 an hour.

To put things in perspective, it takes approximately 11 days to count 1 million dollars (at the rate of 1 dollar every second). It takes about 32 years to count 1 billion dollars. To count his 161 billion dollar fortune would take roughly five thousand years!

Also, assuming a simple interest rate of 1 percent, his money can just sit there in a regular savings account and earn him about 25 million dollars per week! Of course, I imagine his actual earnings are significantly higher than that.

Incredible!

Ron

It’s in stock, he owns 16% of Amazon, you know the company he founded. The value is driven by the market, you know everyone who invests in stock, not interest or salary which is tiny.

And as things stand now, whenever he sells some stock, he will pay capital gains tax at a lower percentage than I pay on my income. Why should that be? Doesn’t his company benefit from the same roads and fire department and education system that I do?

I fully support capital gains at lower taxes.

I know you do, I read many of your posts wink

But why?

 
 
GAD
 
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GAD
Total Posts:  17032
Joined  15-02-2008
 
 
 
30 October 2018 07:56
 
icehorse - 30 October 2018 07:49 AM
GAD - 30 October 2018 07:42 AM
icehorse - 30 October 2018 07:35 AM
GAD - 04 October 2018 07:52 PM
MrRon - 04 October 2018 04:38 PM

I just saw on the news that Bezos’s current net worth is estimated at $161.1 billion dollars. I don’t think he’ll have any problems paying his workers $15 an hour.

To put things in perspective, it takes approximately 11 days to count 1 million dollars (at the rate of 1 dollar every second). It takes about 32 years to count 1 billion dollars. To count his 161 billion dollar fortune would take roughly five thousand years!

Also, assuming a simple interest rate of 1 percent, his money can just sit there in a regular savings account and earn him about 25 million dollars per week! Of course, I imagine his actual earnings are significantly higher than that.

Incredible!

Ron

It’s in stock, he owns 16% of Amazon, you know the company he founded. The value is driven by the market, you know everyone who invests in stock, not interest or salary which is tiny.

And as things stand now, whenever he sells some stock, he will pay capital gains tax at a lower percentage than I pay on my income. Why should that be? Doesn’t his company benefit from the same roads and fire department and education system that I do?

I fully support capital gains at lower taxes.

I know you do, I read many of your posts wink

But why?

Because it’s a good thing.

 
 
icehorse
 
Avatar
 
 
icehorse
Total Posts:  7024
Joined  22-02-2014
 
 
 
30 October 2018 08:12
 
GAD - 30 October 2018 07:56 AM
icehorse - 30 October 2018 07:49 AM
GAD - 30 October 2018 07:42 AM
icehorse - 30 October 2018 07:35 AM
GAD - 04 October 2018 07:52 PM
MrRon - 04 October 2018 04:38 PM

I just saw on the news that Bezos’s current net worth is estimated at $161.1 billion dollars. I don’t think he’ll have any problems paying his workers $15 an hour.

To put things in perspective, it takes approximately 11 days to count 1 million dollars (at the rate of 1 dollar every second). It takes about 32 years to count 1 billion dollars. To count his 161 billion dollar fortune would take roughly five thousand years!

Also, assuming a simple interest rate of 1 percent, his money can just sit there in a regular savings account and earn him about 25 million dollars per week! Of course, I imagine his actual earnings are significantly higher than that.

Incredible!

Ron

It’s in stock, he owns 16% of Amazon, you know the company he founded. The value is driven by the market, you know everyone who invests in stock, not interest or salary which is tiny.

And as things stand now, whenever he sells some stock, he will pay capital gains tax at a lower percentage than I pay on my income. Why should that be? Doesn’t his company benefit from the same roads and fire department and education system that I do?

I fully support capital gains at lower taxes.

I know you do, I read many of your posts wink

But why?

Because it’s a good thing.

Why?

 
 
GAD
 
Avatar
 
 
GAD
Total Posts:  17032
Joined  15-02-2008
 
 
 
30 October 2018 08:26
 
icehorse - 30 October 2018 08:12 AM
GAD - 30 October 2018 07:56 AM
icehorse - 30 October 2018 07:49 AM
GAD - 30 October 2018 07:42 AM
icehorse - 30 October 2018 07:35 AM
GAD - 04 October 2018 07:52 PM
MrRon - 04 October 2018 04:38 PM

I just saw on the news that Bezos’s current net worth is estimated at $161.1 billion dollars. I don’t think he’ll have any problems paying his workers $15 an hour.

To put things in perspective, it takes approximately 11 days to count 1 million dollars (at the rate of 1 dollar every second). It takes about 32 years to count 1 billion dollars. To count his 161 billion dollar fortune would take roughly five thousand years!

Also, assuming a simple interest rate of 1 percent, his money can just sit there in a regular savings account and earn him about 25 million dollars per week! Of course, I imagine his actual earnings are significantly higher than that.

Incredible!

Ron

It’s in stock, he owns 16% of Amazon, you know the company he founded. The value is driven by the market, you know everyone who invests in stock, not interest or salary which is tiny.

And as things stand now, whenever he sells some stock, he will pay capital gains tax at a lower percentage than I pay on my income. Why should that be? Doesn’t his company benefit from the same roads and fire department and education system that I do?

I fully support capital gains at lower taxes.

I know you do, I read many of your posts wink

But why?

Because it’s a good thing.

Why?

Why not? There is nothing great or magic about income tax, and capital gains gives you a tax incentive to take risks and invest in the economy just like a tax free Roth IRA give you an incentive to invest for retirement etc etc etc. You should (or should have) spend your time taking care of your own money instead of whining about other people money.

I’m for a flat tax and have argued for that before, like 15%, everyone pays, no exemptions or loopholes, but then people like say no way it’s not fair to pay the same tax as rich people, they have to pay more. And that says it all. 

 

 

 
 
icehorse
 
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icehorse
Total Posts:  7024
Joined  22-02-2014
 
 
 
30 October 2018 08:40
 
GAD - 30 October 2018 08:26 AM
icehorse - 30 October 2018 08:12 AM
GAD - 30 October 2018 07:56 AM
icehorse - 30 October 2018 07:49 AM
GAD - 30 October 2018 07:42 AM
icehorse - 30 October 2018 07:35 AM
GAD - 04 October 2018 07:52 PM
MrRon - 04 October 2018 04:38 PM

I just saw on the news that Bezos’s current net worth is estimated at $161.1 billion dollars. I don’t think he’ll have any problems paying his workers $15 an hour.

To put things in perspective, it takes approximately 11 days to count 1 million dollars (at the rate of 1 dollar every second). It takes about 32 years to count 1 billion dollars. To count his 161 billion dollar fortune would take roughly five thousand years!

Also, assuming a simple interest rate of 1 percent, his money can just sit there in a regular savings account and earn him about 25 million dollars per week! Of course, I imagine his actual earnings are significantly higher than that.

Incredible!

Ron

It’s in stock, he owns 16% of Amazon, you know the company he founded. The value is driven by the market, you know everyone who invests in stock, not interest or salary which is tiny.

And as things stand now, whenever he sells some stock, he will pay capital gains tax at a lower percentage than I pay on my income. Why should that be? Doesn’t his company benefit from the same roads and fire department and education system that I do?

I fully support capital gains at lower taxes.

I know you do, I read many of your posts wink

But why?

Because it’s a good thing.

Why?

Why not? There is nothing great or magic about income tax, and capital gains gives you a tax incentive to take risks and invest in the economy just like a tax free Roth IRA give you an incentive to invest for retirement etc etc etc. You should (or should have) spend your time taking care of your own money instead of whining about other people money.

I’m for a flat tax and have argued for that before, like 15%, everyone pays, no exemptions or loopholes, but then people like say no way it’s not fair to pay the same tax as rich people, they have to pay more. And that says it all.

I think full time workers should be paid a living wage - that just makes economic sense. That said, I’d fully support a simple, loophole-free, flat tax.

 
 
GAD
 
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GAD
Total Posts:  17032
Joined  15-02-2008
 
 
 
30 October 2018 08:59
 
icehorse - 30 October 2018 08:40 AM
GAD - 30 October 2018 08:26 AM

Why not? There is nothing great or magic about income tax, and capital gains gives you a tax incentive to take risks and invest in the economy just like a tax free Roth IRA give you an incentive to invest for retirement etc etc etc. You should (or should have) spend your time taking care of your own money instead of whining about other people money.

I’m for a flat tax and have argued for that before, like 15%, everyone pays, no exemptions or loopholes, but then people like say no way it’s not fair to pay the same tax as rich people, they have to pay more. And that says it all.

I think full time workers should be paid a living wage - that just makes economic sense. That said, I’d fully support a simple, loophole-free, flat tax.

Hum, that doesn’t line up with obsession and ranting about rich people, I’m sure there is a catch.

 
 
icehorse
 
Avatar
 
 
icehorse
Total Posts:  7024
Joined  22-02-2014
 
 
 
30 October 2018 09:08
 
GAD - 30 October 2018 08:59 AM
icehorse - 30 October 2018 08:40 AM
GAD - 30 October 2018 08:26 AM

Why not? There is nothing great or magic about income tax, and capital gains gives you a tax incentive to take risks and invest in the economy just like a tax free Roth IRA give you an incentive to invest for retirement etc etc etc. You should (or should have) spend your time taking care of your own money instead of whining about other people money.

I’m for a flat tax and have argued for that before, like 15%, everyone pays, no exemptions or loopholes, but then people like say no way it’s not fair to pay the same tax as rich people, they have to pay more. And that says it all.

I think full time workers should be paid a living wage - that just makes economic sense. That said, I’d fully support a simple, loophole-free, flat tax.

Hum, that doesn’t line up with obsession and ranting about rich people, I’m sure there is a catch.

That’s because you’ve always strawmanned me on this topic. Perhaps the “catch” you’re waiting for is that the 15% tax should also apply to corporations - no friggin’ loopholes, no subsidies for profitable companies.

 
 
GAD
 
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GAD
Total Posts:  17032
Joined  15-02-2008
 
 
 
30 October 2018 09:23
 
icehorse - 30 October 2018 09:08 AM
GAD - 30 October 2018 08:59 AM
icehorse - 30 October 2018 08:40 AM
GAD - 30 October 2018 08:26 AM

Why not? There is nothing great or magic about income tax, and capital gains gives you a tax incentive to take risks and invest in the economy just like a tax free Roth IRA give you an incentive to invest for retirement etc etc etc. You should (or should have) spend your time taking care of your own money instead of whining about other people money.

I’m for a flat tax and have argued for that before, like 15%, everyone pays, no exemptions or loopholes, but then people like say no way it’s not fair to pay the same tax as rich people, they have to pay more. And that says it all.

I think full time workers should be paid a living wage - that just makes economic sense. That said, I’d fully support a simple, loophole-free, flat tax.

Hum, that doesn’t line up with obsession and ranting about rich people, I’m sure there is a catch.

That’s because you’ve always strawmanned me on this topic. Perhaps the “catch” you’re waiting for is that the 15% tax should also apply to corporations - no friggin’ loopholes, no subsidies for profitable companies.

I think after all the loopholes they are probably at 15% but I don’t really know all the pro/con arguments here but don’t have any issue with the idea. So if you want to champion this I’ll vote for it/you. 

 

 
 
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