Quote:
Originally posted by gwl123
Made $7.7 Billion today. Earned $650 mil last year. Pays only 15% tax while the rest of us pay around 30%.
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I haven't been following this closely, but did the CEO actually sell $7.7 billion worth of his stock? I didn't hear anything about that.
I suspect the situation is that when the stock started trading publicly today, the value (on paper) of the shares the CEO
holds is worth $7.7 billion.
If he suddenly tried to sell all his shares (an action which would probably make the stock price drop dramatically) he would pay 15% on his
capital gains -- that is the
exact same maximum rate you (and everyone else) pays on long-term capital gains on the stock investments you make.
So I don't know what this BS is that you're giving us about "the rest of us pay around 30%" -- but I guess a few bald-faced lies never stopped those who want to destroy free enterprise and replace it with the muck of socialism....
It is strange too how we don't hear the socialists "complaining" about how people like Google's founders became multi-billionaires virtually overnight. They took the same action (taking their company public) as BlackStone just did, but I guess since Google's founders are rabid socialists, it's "OK" that they only pay 15% tax on the billions of dollars worth of stock they've been selling:
http://www.form4oracle.com/company?cik=0001288776&ticker=goog