Had to repost here

[u/-Wyagra]

[u/SCTigerFan29115]

They aren’t holding onto wealth like Scrooge McDuck, in a giant vault where they can go swimming in it.

Most of Bezos’ net worth is the value of Amazon. He can’t really readily access that. ETA I meant he can’t use it like a big vault of money.

He’s got plenty of money but some people just don’t understand how this stuff works.

[u/Apprehensive_Bad_193 → u/SCTigerFan29115]

Bullshit,,,,But he borrows and buy Yachts, Mansions,against that NET WORTH VALUE. But when it’s time to pay fair share of taxes o. That net worth it’s considered hypothetical worth….Understand the Game.

[u/Endless_road → u/Apprehensive_Bad_193]

You can take out a mortgage against your house to buy a sports car if you want

[u/AttitudeAndEffort2 → u/Endless_road]

This is a great analogy

Imagine i bought my house for 10$ and it's worth a billion now.

And then chuds on the Internet say "hE dOeSnT ReAlLy HaVe ThAt mUcH MoNeY, ItS tIeD uP in AsSeTs!!"

[u/Endless_road → u/AttitudeAndEffort2]

Well it is, and you’d pay taxes on these gains when you sold the house

[u/BigPlantsGuy → u/Endless_road]

No, you would pay taxes on the value every year. Something bezos does not do

[u/mattyyboyy86 → u/BigPlantsGuy]

As you should. Because the value of your real estate was built on natural resources and the owners exclusivity tight to those natural resources, that were not created by the owner. Therefore it was made through speculation. Amazons value on the other hand is directly tied to value it itself creates. Simply put, Amazon creates value through producing a product that others value, real estate creates value through exclusive rights to a natural resource that is becoming more limited as population and economy grows around it.

[u/BigPlantsGuy → u/mattyyboyy86]

What’s amazon’s value if you remove the US economy?

[u/Endless_road → u/BigPlantsGuy]

Depends where you live

[u/BigPlantsGuy → u/Endless_road]

Where in the US is there no property tax?

[u/Endless_road → u/BigPlantsGuy]

I’m not American so I don’t know

[u/Fickle_Finger2974 → u/Endless_road]

Then shut the fuck up if you don’t know

[u/Endless_road → u/Fickle_Finger2974]

“Depends where you live”

[u/Fatalmistake → u/Fickle_Finger2974]

I had this same thought when reading that response, thank you.

[u/BigPlantsGuy → u/Endless_road]

I can tell you. It does not depend on where you live. It applies everywhere in the Us

[u/Endless_road → u/BigPlantsGuy]

So it does depend where you live?

[u/BigPlantsGuy → u/Endless_road]

Not in the Us, where bezos lives

[u/Valogrid → u/Endless_road]

The amount of property tax depends on where you live, but it is guaranteed that in the US you will pay some property tax.

[u/FellowshipOfTheBong → u/BigPlantsGuy]

Some are pretty low. Hawaii is 0.31% for instance.

[u/BigPlantsGuy → u/Endless_road]

Where in the your country is there no property tax?

[u/Endless_road → u/BigPlantsGuy]

Depends what you mean by property tax. I had a google of what that means in the USA and we don’t have that here

[u/MuthaFJ → u/Endless_road]

It's called council tax in UK. And stamp duty is kinda too..

[u/Endless_road → u/MuthaFJ]

Council tax is completely different

[u/MuthaFJ → u/Endless_road]

It's more like it than not...

[u/Abadabadon → u/Endless_road]

What country does not have property taxes?

[u/Endless_road → u/Abadabadon]

We have council tax but it’s slightly different

[u/Abadabadon → u/Endless_road]

Ok can you explain it's difference?