Will Mark Zuckerberg Ever Pay Taxes Again?

This is a prime example of how the filthy rich stay rich with the possiblity to take from a system that a lot of people need in order to survive.

In one turn I'm happy for the guy, but in the other it makes me sick knowing that a billionaire can go on wellfare.

Next year Mark Zuckerberg’s base salary will receive a dramatic pay cut—going from a base salary of $600,000 to just one dollar.

Which raises the question: will he ever pay taxes again?

Click here for the full article

There's a pretty thorough asset check when you go in to apply for foodstamps and that sort of thing. Once they see that he has a nice car and money in the bank, he won't be getting a penny in government aid.

The question is, Should he have to?

Personally I could care less.

reply to post by AnIntellectualRedneck


Not if you create a corporation, and title everything in the corporate name, and then run a series of "asset protection" plans through your attorney and accountant. You suddenly have no assets whatsoever, and the corporate assets are buried in a network of other corporations and irrevocable trusts, and it is all legal.

Rich people are very good at staying rich, and they can also afford to hire other people who are very good at helping them stay rich!

Look at Romney. Why pay 50% in taxes, when instead, you can pay a couple hundred thousand in lawyer and accountant fees to drop that tax rate to 15%.

This is why raising taxes on the rich doesn't work. When you lower taxes on the rich, you take away the incentive to hide money offshore, or to pay people exorbitant amounts to find loopholes.

Some people are soo desperate to flame rich people.

Zuckerberg lives in a $7million house when he could live in a $70million one. Where he lives, $7mil is mid-priced. I wouldn't say he's going overboard considering his position. I'm also sure he never envisioned being so wealthy.

Go flame Bill gates.. Oh, wait, he gave away a billion dollars.

Jealous?

Originally posted by AwakeinNM
Some people are soo desperate to flame rich people.

Zuckerberg lives in a $7million house when he could live in a $70million one. Where he lives, $7mil is mid-priced. I wouldn't say he's going overboard considering his position. I'm also sure he never envisioned being so wealthy.

Go flame Bill gates.. Oh, wait, he gave away a billion dollars.

Jealous?

I'm not flaming the rich. More less flaming the system for having the flaws that allows it to happen. Or for even being a thought in a financial advisor's mind.

Yeah, I saw were Bill Gates just gave away $750 Million to his and his wife's foundation. That like moving it from one account to the other.

And jealous? Heck yes I'm jealous. I'd love to have enough money to be set for life.

reply to post by KnightFire

And jealous? Heck yes I'm jealous. I'd love to have enough money to be set for life

I carry a little spreadsheet in my wallet.

$400,000 would change the lives of me, and several families close to me. It isn't much money at all, but it could pay off all my consumer debt and remodel my home and create an environment where I had a lot of disposable income each month, and it could do the same for my brother, sister-in-law, and close friend, and still leave some extra money over to go do something fun for the whole group!

$400,000 could be life changing for 4 families, but it isn't even a drop in the bucket for these billionaire guys. They blow more than that on a birthday party!

Originally posted by getreadyalready
reply to post by AnIntellectualRedneck

 

Look at Romney. Why pay 50% in taxes, when instead, you can pay a couple hundred thousand in lawyer and accountant fees to drop that tax rate to 15%.

I love it how people like to point out that Romney "only" pays 15%. I like to point out how he paid $3 million in taxes. I'd say he's pulling his own weight. It's not like rich people get better highways to drive on, or the fire department would respond quicker for him.

Originally posted by KnightFire

Originally posted by AwakeinNM
Some people are soo desperate to flame rich people.

Zuckerberg lives in a $7million house when he could live in a $70million one. Where he lives, $7mil is mid-priced. I wouldn't say he's going overboard considering his position. I'm also sure he never envisioned being so wealthy.

Go flame Bill gates.. Oh, wait, he gave away a billion dollars.

Jealous?

I'm not flaming the rich. More less flaming the system for having the flaws that allows it to happen. Or for even being a thought in a financial advisor's mind.

Yeah, I saw were Bill Gates just gave away $750 Million to his and his wife's foundation. That like moving it from one account to the other.

And jealous? Heck yes I'm jealous. I'd love to have enough money to be set for life.

Why are there so many threads on ATS these days bitching about rich people? Oh these people are TOO rich, nobody needs THAT much money. It's really none of anyone's business. Facebook employs over 3000 people, most making six figures and up. Are THEY too wealthy, too? Maybe Zuck should dissolve facebook and lay off those 3000 people out of guilt.

How about Microsoft? 57,000 in the US, 94,000 total. Go get 94,000 employees and then tell me what you deserve to be worth.

Also, the Gates foundation then gives it away - don't forget that part.

There is nothing wrong with a system that rewards hard work and ingenuity. There is something wrong when people want to place restrictions on people who get things done and are rewarded for their innovation. You'd rather punish them for their efforts.

reply to post by canselmi


I agree with you, I was using it as an example of how not to pay taxes.

I don't think he should pay any more than the 15% he pays, but the current tax code says he should pay more.

I think it should be a flat tax across the board for everyone that makes $25,000 and above. 15% no matter how rich you are, or are not. The end result is the same, they are not paying 50% anyway, they are just hiding the money, and that hurts our economy. Let them bring the money into the economy, and admit they made it, and pay the same taxes anyway.

Originally posted by getreadyalready
reply to post by KnightFire

 

And jealous? Heck yes I'm jealous. I'd love to have enough money to be set for life

I carry a little spreadsheet in my wallet.

$400,000 would change the lives of me, and several families close to me. It isn't much money at all, but it could pay off all my consumer debt and remodel my home and create an environment where I had a lot of disposable income each month, and it could do the same for my brother, sister-in-law, and close friend, and still leave some extra money over to go do something fun for the whole group!

$400,000 could be life changing for 4 families, but it isn't even a drop in the bucket for these billionaire guys. They blow more than that on a birthday party!

I completely agree with you. Their spending habits just to have a little fun alone could save a few families.

Originally posted by KnightFire

Originally posted by AwakeinNM
Some people are soo desperate to flame rich people.

Zuckerberg lives in a $7million house when he could live in a $70million one. Where he lives, $7mil is mid-priced. I wouldn't say he's going overboard considering his position. I'm also sure he never envisioned being so wealthy.

Go flame Bill gates.. Oh, wait, he gave away a billion dollars.

Jealous?

I'm not flaming the rich. More less flaming the system for having the flaws that allows it to happen. Or for even being a thought in a financial advisor's mind.

Yeah, I saw were Bill Gates just gave away $750 Million to his and his wife's foundation. That like moving it from one account to the other.

And jealous? Heck yes I'm jealous. I'd love to have enough money to be set for life.

Make a website everyone uses then and get advertising.

Or use Facebook to make money with apps/external websites with social plugins. Believe me when I say this, you can make 5x what a "normal person" makes in 1 year in less than 1 month, for many months with a good paid ad or viral campaign on Facebook.

Problem is it takes a lot of work and research to finally make something that works.

Would you even try to find the information to do this now that you know it exists? Probably not.

I barely know the basics of any programming language. I dropped out of high school, never got a G.E.D. Don't need gov. assistance and moved across the country when I was 20. I started with $0 and no help from anyone in my family because they didn't believe it was possible. Now they ask me for help.. often.

All thanks to the internet, where you can go from $0 to Hero then get beaten by a 14 year old competitor.

Originally posted by oniraug

Originally posted by KnightFire

Originally posted by AwakeinNM
Some people are soo desperate to flame rich people.

Zuckerberg lives in a $7million house when he could live in a $70million one. Where he lives, $7mil is mid-priced. I wouldn't say he's going overboard considering his position. I'm also sure he never envisioned being so wealthy.

Go flame Bill gates.. Oh, wait, he gave away a billion dollars.

Jealous?

I'm not flaming the rich. More less flaming the system for having the flaws that allows it to happen. Or for even being a thought in a financial advisor's mind.

Yeah, I saw were Bill Gates just gave away $750 Million to his and his wife's foundation. That like moving it from one account to the other.

And jealous? Heck yes I'm jealous. I'd love to have enough money to be set for life.

Make a website everyone uses then and get advertising.

Or use Facebook to make money with apps/external websites with social plugins. Believe me when I say this, you can make 5x what a "normal person" makes in 1 year in less than 1 month, for many months with a good paid ad or viral campaign on Facebook.

Problem is it takes a lot of work and research to finally make something that works.

Would you even try to find the information to do this now that you know it exists? Probably not.

I barely know the basics of any programming language. I dropped out of high school, never got a G.E.D. Don't need gov. assistance and moved across the country when I was 20. I started with $0 and no help from anyone in my family because they didn't believe it was possible. Now they ask me for help.. often.

All thanks to the internet, where you can go from $0 to Hero then get beaten by a 14 year old competitor.

Sound like a get rich quick story to me. Thanks for sharing. I surprised you didn't add a link to a website that tells me how to make $4000 a month using my home computer.

reply to post by getreadyalready


not when everyone ditches facebook and heads to twitter
2nd

Originally posted by KnightFire

Originally posted by oniraug

Originally posted by KnightFire

Originally posted by AwakeinNM
Some people are soo desperate to flame rich people.

Zuckerberg lives in a $7million house when he could live in a $70million one. Where he lives, $7mil is mid-priced. I wouldn't say he's going overboard considering his position. I'm also sure he never envisioned being so wealthy.

Go flame Bill gates.. Oh, wait, he gave away a billion dollars.

Jealous?

I'm not flaming the rich. More less flaming the system for having the flaws that allows it to happen. Or for even being a thought in a financial advisor's mind.

Yeah, I saw were Bill Gates just gave away $750 Million to his and his wife's foundation. That like moving it from one account to the other.

And jealous? Heck yes I'm jealous. I'd love to have enough money to be set for life.

Make a website everyone uses then and get advertising.

Or use Facebook to make money with apps/external websites with social plugins. Believe me when I say this, you can make 5x what a "normal person" makes in 1 year in less than 1 month, for many months with a good paid ad or viral campaign on Facebook.

Problem is it takes a lot of work and research to finally make something that works.

Would you even try to find the information to do this now that you know it exists? Probably not.

I barely know the basics of any programming language. I dropped out of high school, never got a G.E.D. Don't need gov. assistance and moved across the country when I was 20. I started with $0 and no help from anyone in my family because they didn't believe it was possible. Now they ask me for help.. often.

All thanks to the internet, where you can go from $0 to Hero then get beaten by a 14 year old competitor.

Sound like a get rich quick story to me. Thanks for sharing. I surprised you didn't add a link to a website that tells me how to make $4000 a month using my home computer.

That's because half the people that do what I do sell get-rich-quick schemes to people with no ambition to learn for themselves. They are called "Guru products" and I avoid them like the plague. They make what I do look bad.

Originally posted by AwakeinNM

Originally posted by KnightFire

Originally posted by AwakeinNM
Some people are soo desperate to flame rich people.

Zuckerberg lives in a $7million house when he could live in a $70million one. Where he lives, $7mil is mid-priced. I wouldn't say he's going overboard considering his position. I'm also sure he never envisioned being so wealthy.

Go flame Bill gates.. Oh, wait, he gave away a billion dollars.

Jealous?

I'm not flaming the rich. More less flaming the system for having the flaws that allows it to happen. Or for even being a thought in a financial advisor's mind.

Yeah, I saw were Bill Gates just gave away $750 Million to his and his wife's foundation. That like moving it from one account to the other.

And jealous? Heck yes I'm jealous. I'd love to have enough money to be set for life.

Why are there so many threads on ATS these days bitching about rich people? Oh these people are TOO rich, nobody needs THAT much money. It's really none of anyone's business. Facebook employs over 3000 people, most making six figures and up. Are THEY too wealthy, too? Maybe Zuck should dissolve facebook and lay off those 3000 people out of guilt.

How about Microsoft? 57,000 in the US, 94,000 total. Go get 94,000 employees and then tell me what you deserve to be worth.

Also, the Gates foundation then gives it away - don't forget that part.

There is nothing wrong with a system that rewards hard work and ingenuity. There is something wrong when people want to place restrictions on people who get things done and are rewarded for their innovation. You'd rather punish them for their efforts.

edit on 2-2-2012 by AwakeinNM because: (no reason given)

I share you thoughts about companies employing people. I work for a company that has 60,000+ employees and every year the associates give around $7 million to United Way and the company matches it.

My thoughts are if the company gave the mached dollars to employing more people instead of cutting headcount, then that would more helpful then giving it to the United Way.

I figured $7 million divided by $40,000 a year job would open up 175 jobs per year. And the United Way would still get a $7 million cut each year.

Originally posted by oniraug

Originally posted by KnightFire

Originally posted by oniraug

Originally posted by KnightFire

Originally posted by AwakeinNM
Some people are soo desperate to flame rich people.

Zuckerberg lives in a $7million house when he could live in a $70million one. Where he lives, $7mil is mid-priced. I wouldn't say he's going overboard considering his position. I'm also sure he never envisioned being so wealthy.

Go flame Bill gates.. Oh, wait, he gave away a billion dollars.

Jealous?

I'm not flaming the rich. More less flaming the system for having the flaws that allows it to happen. Or for even being a thought in a financial advisor's mind.

Yeah, I saw were Bill Gates just gave away $750 Million to his and his wife's foundation. That like moving it from one account to the other.

And jealous? Heck yes I'm jealous. I'd love to have enough money to be set for life.

Make a website everyone uses then and get advertising.

Or use Facebook to make money with apps/external websites with social plugins. Believe me when I say this, you can make 5x what a "normal person" makes in 1 year in less than 1 month, for many months with a good paid ad or viral campaign on Facebook.

Problem is it takes a lot of work and research to finally make something that works.

Would you even try to find the information to do this now that you know it exists? Probably not.

I barely know the basics of any programming language. I dropped out of high school, never got a G.E.D. Don't need gov. assistance and moved across the country when I was 20. I started with $0 and no help from anyone in my family because they didn't believe it was possible. Now they ask me for help.. often.

All thanks to the internet, where you can go from $0 to Hero then get beaten by a 14 year old competitor.

Sound like a get rich quick story to me. Thanks for sharing. I surprised you didn't add a link to a website that tells me how to make $4000 a month using my home computer.

That's because half the people that do what I do sell get-rich-quick schemes to people with no ambition to learn for themselves. They are called "Guru products" and I avoid them like the plague. They make what I do look bad.

I see. Gave you a star for that.

Yet more (although indirect) support for a VAT tax system in the U.S. instead of income based taxes. Zuckerberg wants to buy a 800 foot yacht? No problem, just pony up the 20% luxury tax! Drug dealer down the street wants to buy an Escalade? Sure thing, 20% tax. Average Joe making 40k a year? Your income doesn't get taxed!

Originally posted by AnIntellectualRedneck
There's a pretty thorough asset check when you go in to apply for foodstamps and that sort of thing. Once they see that he has a nice car and money in the bank, he won't be getting a penny in government aid.

i highly doubt a man with billions would waste time trying to get food stamps lol

he found a way to work the system totally legal you would do the same if u could who wouldn't wanna keep more of there own money

reply to post by KnightFire


Yeah, called capital gains.. won't be much, but of course he'd pay taxes? What a dumb article .. oh, cnbc.. forgot..

It's a crappy loophole, but you can't raise capital gains.. it's literally the life blood of the country, every dollar taxed in capital gains is a dollar lost to investment.