You’re making it sound like the wealthy are rich in technicality only. Maybe the majority of their assets aren’t liquid but they’re still damn wealthy more than “on paper.”
And singling out wages as the only source of income to prove Elon isn’t “actually” wealthy is disingenuous at best.
What does that matter? He doesn’t take wages intentionally. He has a large stock portfolio that he can borrow against and thereby pay no taxes on that “income”.
That actually almost seems worse. He is not paying into Social Security or his local community. He is being generously compensated on stock, which is taxed differently.
Edit: I do want to thank you for providing that link. I was only finding a Forbes article about him being the highest compensated CEO of that year.
He’s paying in the local community through property taxes.
He’s highly compensated through stock and when he bought twitter. We got some huge amount of money in Taxes.
You’re correct. He rarely pays into social but that’s a problem for Congress to solve.
There are many ways to solve this bullshit and one is not allow them to borrow against their stock. That’s how they live for so cheap. I’m not opposed to stopping that at all.
That’s the thing people don’t get. The ultra wealthy are wealthy on paper.
On an average years. All of us make more than Elon in wages.
You’re making it sound like the wealthy are rich in technicality only. Maybe the majority of their assets aren’t liquid but they’re still damn wealthy more than “on paper.”
And singling out wages as the only source of income to prove Elon isn’t “actually” wealthy is disingenuous at best.
He’s wealthy but he doesn’t have a high income.
We tax income in America. That’s why Elon pays little and same with bezos. They just don’t have much income.
It personally doesn’t bother me they have billions. They pay their fair share of their taxes just like I pay mine.
You’re not poor because they’re rich. Once you stop focusing on others and focus on yourself; life becomes much easier.
It’s interesting you assume I’m poor just because I’m not licking those boots.
You are. It’s easy to figure out. When people confuse wealth with income, it’s easy to figure out.
People here think there is some finite wealth pie, and if you cut a big piece somehow that leaves more for everyone else
I’ve noticed their knowledge of economics is about zero.
I agree they think Elon has their part of the pie. He doesn’t. If they understood how stocks work, they’d know he has zero of their pie.
They also think he is sitting on billions in cash. He isn’t.
At least Elon created functioning companies for his wealth. He also created many millionaires.
That’s a good billionaire. You can go buy his product at the store.
Facebook. You are the product.
What does that matter? He doesn’t take wages intentionally. He has a large stock portfolio that he can borrow against and thereby pay no taxes on that “income”.
What did Elon get paid, excluding stock options at companies he works for?
I bet he still makes more than me.
Most years under 30k. Often a dollar or free.
https://amp.cnn.com/cnn/2023/02/20/investing/elon-musk-pay/index.html
That actually almost seems worse. He is not paying into Social Security or his local community. He is being generously compensated on stock, which is taxed differently.
Edit: I do want to thank you for providing that link. I was only finding a Forbes article about him being the highest compensated CEO of that year.
He’s paying in the local community through property taxes.
He’s highly compensated through stock and when he bought twitter. We got some huge amount of money in Taxes.
You’re correct. He rarely pays into social but that’s a problem for Congress to solve.
There are many ways to solve this bullshit and one is not allow them to borrow against their stock. That’s how they live for so cheap. I’m not opposed to stopping that at all.
Borrowing against stock needs to stop yesterday, especially if it’s not specifically for the interests of the company whose stock is being used.