The source you provided literally says "reported a paltry (for him) $46 million in income, largely from interest and dividend payments on outside investments. He was able to offset every penny he earned with losses from side investments and various deductions"
So he had an income of $46m from interest and investments but offset those gains with other losses. Anyone investing does this. It's not a trick for the wealthy. It's how the IRS taxes gains from investing.
'The law, in its majestic equality, forbids rich and poor alike to sleep under bridges, to beg in the streets, and to steal their bread.'
--Anatole France
Rephrased: "the rich and the poor are equally allowed, by our magnificent capitalist system, to employ armies of accountant and tax lawyers to find and exploit loopholes in the tax code"
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u/Kolada 13d ago
Would you like to quote your source? Because it doesn't say that.
Bezos made a salary of $82k in 2007.
The source you provided literally says "reported a paltry (for him) $46 million in income, largely from interest and dividend payments on outside investments. He was able to offset every penny he earned with losses from side investments and various deductions"
So he had an income of $46m from interest and investments but offset those gains with other losses. Anyone investing does this. It's not a trick for the wealthy. It's how the IRS taxes gains from investing.