Search Results: tax dollars

I think some people don't understand these concepts because sometimes I see headlines that corporations don't pay taxes, suggesting that people who run them don't pay taxes, but that is not necessarily the case. Or, I'll hear someone suggesting rich people don't pay any income taxes at all. The headline below is an example:

"IRS records show wealthiest Americans, including Bezos and Musk, paid little in income taxes." https://www.seattletimes.com/business/irs-records-show-wealthiest-americans-including-bezos-and-musk-pay-relatively-little-in-income-taxes/

But that's because Musk and Bezos don't make much income. They just have lots of stock, which they pay capital gains taxes when they liquidate, sometimes in the billions of dollars.

Everyone knows that Elon Musk has gotten really rich recently. Now, he will pay $11 billion in taxes to the federal government. Does this trickle down to the rest of us? Examples could include: roads, healthcare, social security, wages for government workers and people in the military. Is that correct?

https://www.cnn.com/2021/12/20/investing/elon-musk-11-billion-dollars-taxes/index.html

What do I need to earn every year in salary? Before tax

Give a figure and please explain how you arrived to that figure.

I am speaking in US dollars

His wealth comes from his stock and when he sells it, he has to pay capital gains taxes. According to this CNN article, it's about 40% of the gains he has made from his stock.

https://www.cnn.com/2021/12/20/investing/elon-musk-11-billion-dollars-taxes/index.html

https://www.yahoo.com/news/rep-alexandria-ocasio-cortez-may-200944269.html
Rep. Alexandria Ocasio-Cortez might have violated House rules with Met Gala gifts, watchdog says

A congressional watchdog says Rep. Alexandria Ocasio-Cortez might have violated House rules when she received gifts associated with her attendance at a prestigious fashion event in 2021.

The Office of Congressional Ethics recommended the House ethics committee continue investigating an allegation against the New York Democrat “because there is substantial reason to believe that she accepted impermissible gifts” associated with the Met Gala, according to a release Thursday from the agency.

In 2021, Ocasio-Cortez attended one of the fashion world's biggest nights at New York City's Metropolitan Museum of Art wearing a Brother Vellies white dress with "Tax the Rich" written in large red letters on the backside.

Ocasio-Cortez was provided with the dress, a handbag, shoes and jewelry for the event, according to a report from the Office of Congressional Ethics. She also received hair, makeup and transportation services as well as the use of a hotel room for the event.

The review said Ocasio-Cortez paid for the items, including the rental value of the dress, only after the watchdog office started its review. Investigators said that if the office hadn’t opened the inquiry, “it appears that Rep. Ocasio-Cortez may not have paid for several thousands of dollars’ worth of goods and services provided to her.”

https://www.yahoo.com/news/now-tucker-carlson-jan-6-202611241.html
Now That Tucker Carlson Has Jan. 6 Footage, Majorie Taylor Greene Is Changing Her Tune

When Democrats were in control of Congress, Rep. Marjorie Taylor Greene (R-Ga.) spent months calling for the unqualified release of thousands of hours of Jan. 6 security camera footage.

“The DOJ should just release the over 14,000 hours of surveillance video that the tax payers already payed [sic] for instead of creating a controlled view of Jan 6 that cost $6.1 million taxpayer dollars,” Greene tweeted in July 2021, a few months after the attack. “Then everyone can see what happened. What is there to hide?”

“If we really want to know the truth about Jan. 6, it’s real easy. All we have to do is release the video footage, and everyone can see for themselves what exactly happened,” the congresswoman said on the House floor last June.

But now that Republicans have given Fox News star Tucker Carlson exclusive access to the tapes, Greene has changed her tune from her old mantra of “release the tapes” ― see, for example, here, here, here and here ― to something else.

Greene was reportedly involved in House Speaker Kevin McCarthy’s (R-Calif.) decision to allow Carlson exclusive access to the footage, and she now says it would be “foolish” to release certain parts publicly.

“We can’t give away our national security,” Greene told CNN. “Everyone in Congress agrees. And I think the American people agree. We don’t want Russia or China or any of these other countries being able to study all the entries and exits of our Capitol. That’s foolish.”

That’s the same argument congressional Democrats have made about McCarthy handing the tapes to Carlson. Greene evidently trusts that the often inflammatory host will responsibly handle the videos.