Seattle WA: 9-0 vote to tax largest employers to help homeless

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Abraham
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Re: Seattle WA: 9-0 vote to tax largest employers to help homeless

#16

Post by Abraham »

Seattle and all of Washington State will now be even more attractive to those looking for handouts, not hand ups...

And, though I'm sorry for the good folks working and living decent lives there, they voted for what they got...

Major businesses will move, (bye Amazon among others) scores of new bums will move in and glorious, reeking tent cities will spring up and people coming for freebies from all the other states will be using their sidewalks for restrooms, kinda like Calcutta...used to be.

There too will be major middle class flight.

Score another big hit for another state for the great politics of communism...
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bblhd672
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Re: Seattle WA: 9-0 vote to tax largest employers to help homeless

#17

Post by bblhd672 »

On one side were ....service-worker unions
raises for service workers
Service union employees looking out for number 1, themselves. Wonder how much support there would have been if the new tax measure specifically said it could not be used to pay for service union member raises?
The left lies about everything. Truth is a liberal value, and truth is a conservative value, but it has never been a left-wing value. People on the left say whatever advances their immediate agenda. Power is their moral lodestar; therefore, truth is always subservient to it. - Dennis Prager

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Re: Seattle WA: 9-0 vote to tax largest employers to help homeless

#18

Post by Soccerdad1995 »

bblhd672 wrote:
On one side were ....service-worker unions
raises for service workers
Service union employees looking out for number 1, themselves. Wonder how much support there would have been if the new tax measure specifically said it could not be used to pay for service union member raises?
Everybody looks out for their own self interest. All of the time. An argument could be made that even purely charitable acts are done, at least in part, because they bring pleasure to the person doing the act. This is why Trump will win re-election. When push comes to shove, people will vote for the guy who gave us the lowest unemployment levels in living memory. They won't want to talk about it to their friend's because some of them will feel bad for being normal human beings, but that's how they will vote.

Like Reagan said "are you better off now than you were 4 years ago?" Or like James Carville's poster at Billy Bob's campaign headquarters said even more bluntly "It's the economy, stupid."
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mojo84
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Re: Seattle WA: 9-0 vote to tax largest employers to help homeless

#19

Post by mojo84 »

I do not agree with what the city is doing. However, I feel little to no pity for Amazon or Bezos when it comes to paying taxes.

https://www.foxbusiness.com/markets/ama ... eral-taxes

Most think Amazon headquarters is in Wa. It's not and it all has to do with tax avoidance.

How do you feel about paying more federal tax than Bezos?
Note: Me sharing a link and information published by others does not constitute my endorsement, agreement, disagreement, my opinion or publishing by me. If you do not like what is contained at a link I share, take it up with the author or publisher of the content.

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Re: Seattle WA: 9-0 vote to tax largest employers to help homeless

#20

Post by rotor »

mojo84 wrote:I do not agree with what the city is doing. However, I feel little to no pity for Amazon or Bezos when it comes to paying taxes.

https://www.foxbusiness.com/markets/ama ... eral-taxes

Most think Amazon headquarters is in Wa. It's not and it all has to do with tax avoidance.

How do you feel about paying more federal tax than Bezos?
I agree with you about Bezos but realize this, Amazon is a public corporation and has a duty to it's stock holders and that duty is to provide a maximum financial return. Bezos can do whatever he wants to do with his money but he has a fiduciary obligation to the stockholder when it comes to Amazon. Paying more taxes is not good for the stockholders. That city regulation penalizes the stockholder. Who knows how many other business's will be affected. Never bite the hand that feeds you.

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Re: Seattle WA: 9-0 vote to tax largest employers to help homeless

#21

Post by Soccerdad1995 »

mojo84 wrote:I do not agree with what the city is doing. However, I feel little to no pity for Amazon or Bezos when it comes to paying taxes.

https://www.foxbusiness.com/markets/ama ... eral-taxes

Most think Amazon headquarters is in Wa. It's not and it all has to do with tax avoidance.

How do you feel about paying more federal tax than Bezos?
I pay over six figures in federal income taxes each year. And I'm confident that I pay less in federal income taxes than Jeff Bezos. The corporation that he heads, and which he owns a part of, apparently reported a tax loss last year. That is not the same thing as Mr Bezos not paying federal income taxes. I own a part of several corporations that each did not pay taxes last year. Yet I still paid federal income taxes.

We could start a separate thread on the merits of dual taxation when it comes to corporations, that pay income tax, and their owners, who also pay income tax again when those same dollars of profit are distributed.
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ELB
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Re: Seattle WA: 9-0 vote to tax largest employers to help homeless

#22

Post by ELB »

I don't know what Seattle's zoning and construction laws are like, but since they are a lefty enclave I will bet it's similar to California and NY cities, and therefore the reason there is no "affordable" housing is because their rules make it too expensive. Therefore the price for existing housing goes way up. See also "San Francisco."

Now that the local gubbmint is going to build "affordable" housing, we can expect that as soon as construction begins, if not earlier, the per-unit cost will start climbing steeply from the no-doubt rosy estimates used to sell the tax, the number of housing units built will drop radically, and suddenly the "temporary" tax that for now only affects the top 3% of businesses will become both permanent and cover a lot more businesses.

And then they will wonder why their middle-class is collapsing, the poor are multiplying, and the lower/mid-tier jobs at Amazon and other businesses are being moved to Texas or Florida or wherever. The upper management will be able to afford to stay and enjoy their West Coast lifestyle as they drive by the homeless who are publicly crapping on the sidewalk (again, see San Francisco).
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Soccerdad1995
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Re: Seattle WA: 9-0 vote to tax largest employers to help homeless

#23

Post by Soccerdad1995 »

ELB wrote:I don't know what Seattle's zoning and construction laws are like, but since they are a lefty enclave I will bet it's similar to California and NY cities, and therefore the reason there is no "affordable" housing is because their rules make it too expensive. Therefore the price for existing housing goes way up. See also "San Francisco."

Now that the local gubbmint is going to build "affordable" housing, we can expect that as soon as construction begins, if not earlier, the per-unit cost will start climbing steeply from the no-doubt rosy estimates used to sell the tax, the number of housing units built will drop radically, and suddenly the "temporary" tax that for now only affects the top 3% of businesses will become both permanent and cover a lot more businesses.

And then they will wonder why their middle-class is collapsing, the poor are multiplying, and the lower/mid-tier jobs at Amazon and other businesses are being moved to Texas or Florida or wherever. The upper management will be able to afford to stay and enjoy their West Coast lifestyle as they drive by the homeless who are publicly crapping on the sidewalk (again, see San Francisco).
I was born and Seattle, and lived there for right around 20 years off and on. And I don't see the appeal. The climate is cold. Not freezing cold (other than a few winter months), but still "need a coat" cold, and there is a near-constant drizzle of rain. August is really the only month when you have good weather. The people are leftist. My nephew is on his high school debate team and tells me that at each of their competitions you start by asking each member of the other team for their "preferred pronouns". He actually thought that was normal. Gun rights are limited. The average wage / cost of living index is poor. When I moved to Houston, I more than doubled my pay for a very similar job, and the same house here costs less than half of what it would cost in the Seattle area. Sure, they have water, but it is never warm enough to swim in either the lake or the ocean. They have outdoors activities not far away, but so does pretty much every other major U.S. city. They have the ability to be on your boat, and also ski in the mountains on a given weekend. So there is that, I guess.

I have no temptation to visit Seattle. I'm perfectly happy in Houston.

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Re: Seattle WA: 9-0 vote to tax largest employers to help homeless

#24

Post by apostate »

Elections have consequences.
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mojo84
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Re: Seattle WA: 9-0 vote to tax largest employers to help homeless

#25

Post by mojo84 »

rotor wrote:
mojo84 wrote:I do not agree with what the city is doing. However, I feel little to no pity for Amazon or Bezos when it comes to paying taxes.

https://www.foxbusiness.com/markets/ama ... eral-taxes

Most think Amazon headquarters is in Wa. It's not and it all has to do with tax avoidance.

How do you feel about paying more federal tax than Bezos?
I agree with you about Bezos but realize this, Amazon is a public corporation and has a duty to it's stock holders and that duty is to provide a maximum financial return. Bezos can do whatever he wants to do with his money but he has a fiduciary obligation to the stockholder when it comes to Amazon. Paying more taxes is not good for the stockholders. That city regulation penalizes the stockholder. Who knows how many other business's will be affected. Never bite the hand that feeds you.
Like I said, I do not agree with the city's position and I didn't say I disagreed with Amazon maximizing their net earnings by avoiding federal income taxes. I did say I do not pity them.
Note: Me sharing a link and information published by others does not constitute my endorsement, agreement, disagreement, my opinion or publishing by me. If you do not like what is contained at a link I share, take it up with the author or publisher of the content.

rotor
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Re: Seattle WA: 9-0 vote to tax largest employers to help homeless

#26

Post by rotor »

mojo84 wrote:
rotor wrote:
mojo84 wrote:I do not agree with what the city is doing. However, I feel little to no pity for Amazon or Bezos when it comes to paying taxes.

https://www.foxbusiness.com/markets/ama ... eral-taxes

Most think Amazon headquarters is in Wa. It's not and it all has to do with tax avoidance.

How do you feel about paying more federal tax than Bezos?
I agree with you about Bezos but realize this, Amazon is a public corporation and has a duty to it's stock holders and that duty is to provide a maximum financial return. Bezos can do whatever he wants to do with his money but he has a fiduciary obligation to the stockholder when it comes to Amazon. Paying more taxes is not good for the stockholders. That city regulation penalizes the stockholder. Who knows how many other business's will be affected. Never bite the hand that feeds you.
Like I said, I do not agree with the city's position and I didn't say I disagreed with Amazon maximizing their net earnings by avoiding federal income taxes. I did say I do not pity them.
We all agree that Seattle is doing the dumbest thing possible. But, as far as federal tax, Amazon will end up deducting the Seattle tax from their federal tax so it is you and the rest of the public picking up the tab. I don't pity Amazon but it is not in my (or your) best interest for Amazon to pay more to Seattle and less therefore to the feds.
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mojo84
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Re: Seattle WA: 9-0 vote to tax largest employers to help homeless

#27

Post by mojo84 »

Soccerdad1995 wrote:
mojo84 wrote:I do not agree with what the city is doing. However, I feel little to no pity for Amazon or Bezos when it comes to paying taxes.

https://www.foxbusiness.com/markets/ama ... eral-taxes

Most think Amazon headquarters is in Wa. It's not and it all has to do with tax avoidance.

How do you feel about paying more federal tax than Bezos?
I pay over six figures in federal income taxes each year. And I'm confident that I pay less in federal income taxes than Jeff Bezos. The corporation that he heads, and which he owns a part of, apparently reported a tax loss last year. That is not the same thing as Mr Bezos not paying federal income taxes. I own a part of several corporations that each did not pay taxes last year. Yet I still paid federal income taxes.

We could start a separate thread on the merits of dual taxation when it comes to corporations, that pay income tax, and their owners, who also pay income tax again when those same dollars of profit are distributed.
I'm sure we are all extremely impressed with how much you make and how much you pay in taxes.

I think you would be very surprised how little Bezos actually pays in taxes in relation to how much he makes through capital gains. By the way, he doesn't take much of a salary (around $82,000) for a reason. He has teams of tax advisors and lawyers that helps him mitigate his personal tax obligation. https://www.investopedia.com/news/what- ... last-year/

But thanks for the little lecture even if it wasn't accurate. Amazon hasn't operated at a loss for a little while now. They are using loss carry forward and a foreign domicile to pay very little to no taxes. He is a master at the game.

Like I told rotor, I do not agree with what the city is doing but I also do not pity Bezos or Amazon.
Note: Me sharing a link and information published by others does not constitute my endorsement, agreement, disagreement, my opinion or publishing by me. If you do not like what is contained at a link I share, take it up with the author or publisher of the content.

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Re: Seattle WA: 9-0 vote to tax largest employers to help homeless

#28

Post by Abraham »

i'm so glad they remain there...

Soccerdad1995
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Re: Seattle WA: 9-0 vote to tax largest employers to help homeless

#29

Post by Soccerdad1995 »

mojo84 wrote:
Soccerdad1995 wrote:
mojo84 wrote:I do not agree with what the city is doing. However, I feel little to no pity for Amazon or Bezos when it comes to paying taxes.

https://www.foxbusiness.com/markets/ama ... eral-taxes

Most think Amazon headquarters is in Wa. It's not and it all has to do with tax avoidance.

How do you feel about paying more federal tax than Bezos?
I pay over six figures in federal income taxes each year. And I'm confident that I pay less in federal income taxes than Jeff Bezos. The corporation that he heads, and which he owns a part of, apparently reported a tax loss last year. That is not the same thing as Mr Bezos not paying federal income taxes. I own a part of several corporations that each did not pay taxes last year. Yet I still paid federal income taxes.

We could start a separate thread on the merits of dual taxation when it comes to corporations, that pay income tax, and their owners, who also pay income tax again when those same dollars of profit are distributed.
I'm sure we are all extremely impressed with how much you make and how much you pay in taxes.

I think you would be very surprised how little Bezos actually pays in taxes in relation to how much he makes through capital gains. By the way, he doesn't take much of a salary (around $82,000) for a reason. He has teams of tax advisors and lawyers that helps him mitigate his personal tax obligation. https://www.investopedia.com/news/what- ... last-year/

But thanks for the little lecture even if it wasn't accurate. Amazon hasn't operated at a loss for a little while now. They are using loss carry forward and a foreign domicile to pay very little to no taxes. He is a master at the game.

Like I told rotor, I do not agree with what the city is doing but I also do not pity Bezos or Amazon.
Not trying to impress you Mojo, and also not trying to "lecture" you. If anyone is "lecturing" with "inaccurate" info, it is you. You asked how we felt about Bezo's paying less in taxes than we pay. I pay more than most in taxes, and I don't pay less than Bezo's. So unless we have a lot of folks on this board with extremely high incomes, I have no idea who you were directing your question to.

You then linked to a story about a company that paid no corporate income taxes last year. Bezos owns stock in this company, and also works for them. Both of those facts, of course, are completely irrelevant to your question about my feelings regarding Bezo's income taxes. The fact is that unless you have access to Mr. Bezo's income tax returns, you really have no idea what he pays in income taxes.

You were inaccurate when you asked how I felt about Bezo's paying less in taxes than I pay. My answer was not inaccurate. But I'm sure we are all impressed with your ability to blindly speculate without having any supporting facts. And thank you for the lecture.
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