Hacker News Reader

> and simply tax all every dollar that ultimately goes to a person at that rate. Finally, eliminate all deductions.

Well there's your first problem; little money actually goes to a person. Bezos is listed as the richest person in the world, but the vast majority of his wealth is in the company.

It reminds me when the Google head honchos humblebragged about only having a wage of $1 a year. Basically admitting they were dodging income taxes.

View on HN

That's not a problem - when the stock is liquidated he would be taxed, no - the problem is that he's taxed differently and there are mechanisms in which that tax he pays is deducted, e.g. donating much of it to an organization he controls.

Yes, but he can live on a cheap loan collateralized by his stocks and never sell - that way he pays no tax)

Any asset can be collateralized. Every homeowner in US can do the same thing with a reverse mortgage. Leveraging assets isn't tax evasion. It doesn't even qualify as avoidance.

Reply on news.ycombinator.com