Beyoncé's $3M tax trial postponed

[27monster27 9,632]

1 hour ago, Kimmo said:

Scammer Carter strikes again….

Not the Cowboy Carter gaycat. 

[Natalia Kills 354]

2 hours ago, olive specter said:

maybe it's because i'm poor and uneducated about money

but like, why do rich people not pay taxes?

if you have hundreds of millions of net worth, 3m seems like a small number

wouldn't it be better to pay it just so you look good to the public?

is this just greed or is there more to it?

unethical ether way, but i'm curious

Good question! It’s more complex than it may seem.

Most rich people pay their taxes. There are definite bad actors out there that try to avoid tax altogether, but they’re still a minority.

It gets messy when you account for deductions and credits, which is where most celebrities end up fighting tax bills. The deductions and credits were deliberately made to incentivize filing, generate more disposable income (which in turn can lead the economy and job creation) and also make taxation “fairer”. But what grounds you have on these deductions can be blurry and complex, and the IRS or any tax agency are encouraged to push hard on deduction eligibility, sometimes unfairly. 

There is an element of greed tied to it. But that being said, it is money you have earned, likely through sacrifices. Normally if you’re earning a lot of money, you may have had to work exceptionally hard to get there. 

In some cases, like Beyoncé’s, you might have pretty high living costs too, so the millions add up. It’s surprisingly easy to burn through high levels of money when you need 24/7 security, especially if you multiple homes and have to travel. 

So while the net worth is huge, it’s also quite expendable compared to the average person who need to pay for less to get by. This is why lottery winners in particular end up bankrupt. There’s also issues like your net worth suddenly tanking if you have a failed investment/business, divorce, fraud etc.  

If I were Beyoncé, I’d pay it to keep the public happy. But at the same time, we don’t truly know her finances and there may be some legitimacy, especially if this is something the IRS has messed up.

Edited April 7 by Natalia Kills

[Gohan 15,312]

Oh no another artist for GGD to obsess about and make taxes jokes

[Economy 44,190]

36 minutes ago, Natalia Kills said:

Good question! It’s more complex than it may seem.

Most rich people pay their taxes. There are definite bad actors out there that try to avoid tax altogether, but they’re still a minority.

It gets messy when you account for deductions and credits, which is where most celebrities end up fighting tax bills. The deductions and credits were deliberately made to incentivize filing, generate more disposable income (which in turn can lead the economy and job creation) and also make taxation “fairer”. But what grounds you have on these deductions can be blurry and complex, and the IRS or any tax agency are encouraged to push hard on deduction eligibility, sometimes unfairly. 

There is an element of greed tied to it. But that being said, it is money you have earned, likely through sacrifices. Normally if you’re earning a lot of money, you may have had to work exceptionally hard to get there. 

In some cases, like Beyoncé’s, you might have pretty high living costs too, so the millions add up. It’s surprisingly easy to burn through high levels of money when you need 24/7 security, especially if you multiple homes and have to travel. 

So while the net worth is huge, it’s also quite expendable compared to the average person who need to pay for less to get by. This is why lottery winners in particular end up bankrupt. There’s also issues like your net worth suddenly tanking if you have a failed investment/business, divorce, fraud etc.  

If I were Beyoncé, I’d pay it to keep the public happy. But at the same time, we don’t truly know her finances and there may be some legitimacy, especially if this is something the IRS has messed up.

Yeah i was kinda gonna say this seems more like a disagreement on interpretation of the deductions and what should count than an intentional attempt to avoid paying taxes she legally has to

 

But i decided to make a joke post instead

 

Btw i myself fought with the government over $1200 in taxes when I was 19 (and won). Totally different situation but nevertheless it reminds me of the situation

[jacs vs looser 2,753]

3 hours ago, olive specter said:

If you have hundreds of millions of net worth, 3m seems like a small number

It really *is* a very small number. Her estimated net worth is 800 million dollars, so 3 million equals less than 38 cents for every 100 dollars. And that's without taking Jay Z's even bigger net worth into consideration.

[AnnTakamaki 6,144]

Shakira: girl i dont pay taxes

Beyonce: me too

both: AªÆAAEEAEAEAEAAAAÆĚEAEAEAƏAAA

[LIKELADYAGAGA 3,591]

For everybody saying to just pay it, if the IRS made a mistake, she should be able to choose where that $3m goes. She should get to live by the same tax code as other people in her tax bracket.