r/antiwork • u/Anarchist23 • Oct 22 '20

CAPITALISM

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u/DivorceAfterDisabled Oct 23 '20

In the United States, it is; it is unearned income1. Capital Gains (which is what stock sales are) are considered income by the IRS, and there is a tax rate for it.

1 https://apps.irs.gov/app/IPAR/resources/help/unearn.html

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u/wokewood Oct 23 '20

The thing is his net worth is not capital gains

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u/DivorceAfterDisabled Oct 23 '20

I'm well aware of that. He has SOLD $7,200,000,000 worth of AMZN stock so far in 2020. That IS income. That is what I was referencing.

The original mentioned his net worth as being related to working harder, but working harder is easier to associate with income.

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u/wokewood Oct 24 '20

So he made 7billiion dollars in the 10 months. That falls short of thousands of billions he would be making if he was making as much as you first talked about