Post by Smilin' Jack on Mar 31, 2013 10:01:08 GMT -5
Smokem' if you got'em.
Who says the rich don't already pay?
That's a rhetorical question.
Facebook's stock market debut left founder and CEO Mark Zuckerberg with a paper fortune currently valued at $13 billion -- and a 2012 tax bill of around $1.1 billion.
Zuckerberg's whopping tax hit stems from his move last May to increase his stake in Facebook. On the day of Facebook's initial public offering, Zuckerberg exercised a stock option and purchased 60 million Facebook shares at a "strike price" of 6 cents each.
Even if those shares are never sold, the IRS treats them as ordinary income at the time the options are exercised. The rationale is that such options are a form of compensation, just like regular wages.
For Zuckerberg, that means reporting income last year of nearly $2.3 billion from his stock options alone. Add together the top 2012 federal tax rate of 35% and the top California rate of 13.3% -- the highest in the nation -- and you get a total tax rate of 48.3%.
"The longer I live the more I see that I am never wrong about anything, and that all the pains I have so humbly taken to verify my notions have only wasted my time."
mrtxstar: Trump wins big on Super Tuesday 2024! woot
Mar 6, 2024 11:41:59 GMT -5
mrtxstar: Merry Christmas and a Happy New Year to you too, Smilin' Jack!
Dec 15, 2022 5:26:15 GMT -5
Smilin' Jack: Wishing you all a Merry Christmas.
Dec 6, 2022 9:44:53 GMT -5
mrtxstar: Happy New Year to all that still check in here from time to time. Cheers!
Jan 1, 2022 1:33:24 GMT -5
Fredo: I'm doing what I can to push back but a man has only so many options. We begin by not complying.
Nov 18, 2021 16:47:37 GMT -5
Bobby: Hey Fredo you pushing back against them thats trying to push the vaccine on us or are you going along with the plan? Bobby
Aug 12, 2021 0:45:32 GMT -5
Smilin' Jack: Hi wagthedog, welcome. Chime in or add to the conversations as you see fit.
Feb 16, 2021 13:09:23 GMT -5
mrtxstar: Welcome wagthedog.
Feb 13, 2021 17:59:23 GMT -5
mrtxstar: Mass job-killing for the sake of an ideological end is domestic terrorism. The Biden immigration plan isn't about immigration, it's about flipping Texas blue which ultimately leads to the GOP never winning another federal election ever again. No Thank you.
Feb 7, 2021 2:49:09 GMT -5
Smilin' Jack: Maybe you should hear them out as to what kind of business they have in mind. Could be lucrative. Just sayin'.
Dec 31, 2020 23:27:28 GMT -5
Fredo: There is no world in which our President will surrender the office to a Chinese asset.Have faith.
Dec 24, 2020 14:50:02 GMT -5
mrtxstar: Biden will be an illegitimate president if he is inaugurated. This can not sand!
Dec 17, 2020 18:12:38 GMT -5
Fredo: Oh my. The Chinese have found me. :oTrnslation: I like your website. Can we do business
Dec 16, 2020 16:33:30 GMT -5
朋友: 我喜欢你的网站. 我们可以做生意吗
Dec 13, 2020 18:10:54 GMT -5
Fredo: I'll see if I can make the buttons bigger.
Dec 12, 2020 12:45:29 GMT -5
Fredo: First mobile post. Very clunky and hard to see.
Dec 12, 2020 12:45:13 GMT -5
Fredo: Deleting a bunch of old member accounts. I doubt that anyone still has their old login information so I can delete old accounts as new ones are created.
Dec 12, 2020 11:39:54 GMT -5
Fredo: Membership is open (I think)The shout box is open to guests. Standard rules apply. I don't censor anything except that which might get the platform nuked.
Dec 12, 2020 11:13:41 GMT -5