and another thing ...

What's your tax rate? Zuckerberg's is 7%. →

Before we start talking about the Facebook Windfall and all the nice new tax dollars the company will pour into the state treasury, let me take a moment to put this in perspective. Before Jerry Brown’s finance director goes to Mark Zuckerberg’s house to wash his windows and mow his lawn (which wouldn’t work anyway; according to its SEC filings, Facebook pays for a home security service for its CEO), he should understand that Zuckerberg will be paying a disgracefully low amount of money on his great wealth.

If things go as planned, Zuckerberg will exercise $5 billion in Facebook options, and pay federal and state taxes of nearly $2 billion — making him the largest single taxpayer in history. Sounds like he’s a hell of a guy, doing his part to help the cash-strapped public sector.

But in reality, he’ll be paying an actual tax rate of about 7 percent — less than nearly all Americans.

Zuckerberg’s stock will be worth around $28 billion. But he won’t have to pay any tax at all on most of it. (more)

(Source: 99anon, via occupyallstreets)

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