Category Archives: Taxes

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From where will all of this money come?

The biggest issue in foul, fetid, fuming, foggy, filthy Philadelphia at the moment is more state funding for the Southeast Pennsylvania Transportation Authority, or SEPTA, the mass transit agency which run buses, trains, trollies, and subways in the metropolitan area. SEPTA has a projected $213 million deficit, and has instituted significant service cuts to try to keep the operating expenses in line with projected revenues without the aid from Harrisburg for which they’ve been begging. My good friend Daniel Pearson and the Editorial Board of The Philadelphia Inquirer have been adamant that the Commonwealth must come through with money, or utter disaster will strike. Note how the elevated train comes to destroyed tracks in a tweet from the newspaper!

We noted here that the solution is actually simple: a 75¢ fare hike completely closes SEPTA’s projected deficit.[1]Here’s the math! SEPTA’s average daily ridership was approximately 768,291 unlinked passenger trips in May 2025, representing a 7% increase from May 2024. The bus system accounts for the … Continue reading The newspaper in general, and Mr Pearson specifically, are opposed to further fare increases, pointing out that the base fare has jumped from $2.00 to just under $3.00 since 2018.

But, as the city is desperately looking for money from SEPTA, what else is the Inquirer presenting to readers?

Everywhere you look in the newspaper you’ll find stories of more and more money being spent, and more and more money being demanded, and no one seems willing to ask: from where will all of this money come?

The Transportation Workers Union Local 234 approved a new contract in November of 2024, which included “a 5% pay raise and safety improvements including bulletproof enclosures on buses to protect Bus Operators, upgrades to radios, and fixes to allow uninterrupted communication in tunnels.” That contract expires on November 7th of this year, which means the union will be going back to ask for more money again. From where will this money come?

I get it: the inflation of the Biden economy hit everyone hard, and though inflation started coming down during Mr Biden’s final year in office, the inflated prices never went away. As much as President Trump tries, inflation could come under control, but prices almost never go back down. Everyone is still trying to catch up, but when it’s government spending that is trying to catch up, the taxpayers are the ones who have to shell out. Pennsylvania’s state income tax rate is fairly low, just 3.07%, but the Commonwealth and the localities make up for that by trying to nickel-and-dime people to death on everything else.

Would you believe that the Borough of Jim Thorpe actually requires people to buy a permit, for the price of $5.00, to move into or out of any place in the borough, and that no public or private moving company shall enable such without verifying the moving permit? Violation of such can bring a fine of $600 and possible jail time. $5.00 might not seem like much, but this is an example of the petty ways in which the governments keep trying to stick their grubby hands into people’s pockets.

Philadelphia doesn’t require a move in permit, but charges $25.00 — $50.00 in Center City and University City — for a permit to occupy two street parking spaces for your moving truck.

Someone who looks a lot like me snowblowing in my old neighborhood, December 29, 2012. Does my neighborhood look wealthy to you? Click to enlarge.

Is it any wonder that the Republicans who control the state Senate are reticent to just give and give and give the taxpayers’ dollars to SEPTA and to Philly? Every dollar they give just means the more dollars that will be demanded in the next budget, and while Republicans are reasonably strong throughout the Commonwealth, Philly is as close to a “No Republican” zone as it can get. Do my former neighbors in relatively low-cost, conservative Jim Thorpe[2]Voters in Carbon County gave 66.90% of their votes to Donald Trump, while the voters in Philadelphia and Delaware counties gave 78.57% and 61.15% of their votes, respectively, to Kamala Harris … Continue reading really want to send more of their hard-earned tax dollars to subsidize wealthy inhabitants of Bryn Mawr, Haverford, and Lower Merion to take the train to Center City?

When Mr Pearson wrote “Harrisburg can’t let regional factionalism keep them from finding common ground on SEPTA: The stalemate over the state budget has entered a new, fractious phase, pitting lawmakers who represent predominantly rural areas against their counterparts from the commonwealth’s larger cities,” he was noting just how different Philly is from the “predominantly rural areas,” as though that’s a surprise, but his goal was a victory for SEPTA and the “commonwealth’s larger cities” over the rural areas. The people of those predominantly rural areas have expressed their differences at the voting booth, and they expect their elected representatives to vote their interests, not Philadelphia’s, yet the stories listed above show us, show the people of those predominantly rural areas how the commonwealth’s larger cities want to spend and spend and spend. Is it really any surprise that the Republican-controlled state Senate is reluctant to throw more and more and more money to Philly?

References

References
↑1 Here’s the math! SEPTA’s average daily ridership was approximately 768,291 unlinked passenger trips in May 2025, representing a 7% increase from May 2024. The bus system accounts for the largest portion of daily ridership, with 354,820 unlinked trips, or 50% of the total. With 768,291 unlinked passenger trips every day, and a projected operating deficit of $213 million, how much would fares have to increase to cover the deficit? 768,291 x 365 = 280,426,215 trips per year. A $213,000,000 deficit ÷ 280,426,215 daily trips = 75.96¢ per trip which would need to be collected to completely eliminate the projected deficit. Call it a 75¢ per trip added to the fares, just to male collections simpler, and the budget can be brought under control.
↑2 Voters in Carbon County gave 66.90% of their votes to Donald Trump, while the voters in Philadelphia and Delaware counties gave 78.57% and 61.15% of their votes, respectively, to Kamala Harris Emhoff. Both the state Representative, Doyle Heffley, and state Senator, David Argall, for Jim Thorpe, are Republicans.
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The solution to SEPTA’s woes is simple I did something ridiculously simple: I did the math!

I lived in Jim Thorpe, Pennsylvania, for fifteen years, from 2002 into 2017, a long enough time to get pretty familiar with the place. So, when Governor Josh Shapiro (D-PA) decided to tweet that “Mass transit is a lifeline for the people across all 67 counties who rely on it every day to attend school, get to work, and power our economy,” I had to think about it: had I ever seen a bus, other than a school bus, in Carbon County?

The answer, of course, was no, I never had, never in fifteen years noticed a public transportation bus.

Jim Thorpe is a small, very ‘walkable’ town, and I spent many of my days off doing just that, walking through town. Here’s one of the photo albums I took, on October 12, 2013, and you can see just why I walked through the picturesque town.

Mass transit in Jim Thorpe, Pennsylvania. Photo by D R Pico. Free for use with appropriate credit. Click to enlarge.

The latest outrage in foul, fetid, fuming, foggy, filthy Philadelphia isn’t crime, isn’t murder, but the fact that the Republican-controlled state Senate has been unwilling to pass a huge, additional appropriation for the Southeast Pennsylvania Transportation Authority, or SEPTA, and my good friends at The Philadelphia Inquirer have waxed apoplectic about the whole thing.

Philly lawyer George Bochetto hired to sue SEPTA to stop service cuts

Bochetto said that a suit would challenge the service cuts on the grounds of a disproportionate impact on disadvantaged communities.

by Thomas Fitzgerald | Monday, August 25, 2025 | 8:39 AM EDT

Philadelphia lawyer George Bochetto demanded SEPTA halt service cuts and said he has been hired by a group of riders to sue the transit agency, in an email sent Sunday night.

“SEPTA’s planned service reductions are draconian in nature and will have a severe impact on racial and ethnic minorities and low-income citizens in Southeastern Pennsylvania without any legitimate basis,” Bochetto wrote in the notice, which was first reported by Big Trial on Substack.

Consumer advocate Lance Haver is among those involved in the action to block SEPTA’s service cuts, according to the Substack post. The action comes as Harrisburg has failed to approve new state funding for mass transit. The first round of service cuts began on Sunday.

“SEPTA’s legal counsel is reviewing the letter and intends to contact George Bochetto today,” said Andrew Busch, a spokesperson for the transit agency.

SEPTA had been living on post-COVID funds from the Federal government, but those ended. In 2024, Governor Shapiro redirected $153 million in federal highway funds to SEPTA, because, horror of horrors, the Governor didn’t want SEPTA’s customers to have to pay more to use their services:

Earlier this month, SEPTA moved to enact a 29% across-the-board fare increase followed by deep service cuts next summer, as the agency grapples with what officials call an “unprecedented” post-pandemic financial crisis. It faces a recurring deficit of $240 million annually.

While Shapiro’s efforts have paused the 21.5% fare increase expected for Jan. 1, riders will still face an increase of 7.5% beginning Dec. 1. Shapiro said the federal cash infusion would limit service cuts, but did not provide further detail.

So, it wasn’t just Pennsylvanians in the small towns and counties throughout the central part of the Commonwealth who were being taxed to provide cheaper bus and subway rides for Philadelphians, but taxpayers in Montana and Wyoming and Missouri who were having to dig deeper into their pockets as well.

Back to the first cited article:

Bochetto said in an interview Monday that a suit would challenge the service cuts on the grounds of a disproportionate impact on disadvantaged communities. SEPTA completed an equity analysis before adopting the cuts.

Oh, so now SEPTA isn’t a public transit service, but a welfare program? Got it! But that’s not an argument which will play well with Republicans.

“They’re committing a fraud on the public,” Bochetto said, noting SEPTA has $390 million in a reserve fund. “There is no reason why these cuts are necessary.”

Haver will be a plaintiff in the action, Bochetto confirmed. He declined to discuss other groups or individuals who may join.

The group plans to seek a judge’s injunction to stop the cuts, Bochetto said in the email, addressed to SEPTA General Counsel Gino Bendetti. That likely would require SEPTA to draw from its service stabilization fund instead of cutting bus routes and reducing trips across all modes of transit.

Pretty typical these days: the lawsuit seeks to have a judge usurp the executive decision on how SEPTA’s funds are to be spent. This is the kind of bovine feces which needs to be slapped down, hard. I don’t care what you believe SEPTA should be doing; that’s for the agency’s leadership to decide, not judges.

SEPTA’s average daily ridership was approximately 768,291 unlinked passenger trips in May 2025, representing a 7% increase from May 2024. The bus system accounts for the largest portion of daily ridership, with 354,820 unlinked trips, or 50% of the total.

So, let’s do the math! With 768,291 unlinked passenger trips every day, and a projected operating deficit of $213 million, how much would fares have to increase to cover the deficit? 768,291 x 365 = 280,426,215 trips per year. A $213,000,000 deficit ÷ 280,426,215 daily trips = 75.96¢ per trip which would need to be collected to completely eliminate the projected deficit. Call it a 75¢ per trip added to the fares, just to male collections simpler, and the budget can be brought under control.

As we previously noted, the Inquirer reported that SEPTA was losing roughly $50 million a year from fare jumpers, much of it by people who could easily pay:

Transit Police Chief Charles Lawson said the agency has learned so far that the majority of fare evaders are everyday working residents — nurses, lawyers, even city employees with free passes, who, in a rush to catch the train, or out of habit after not paying in recent years, step over the turnstiles.

In a city like Philadelphia, nurses can make up to $100,000 a year. Attorneys? Normally they make pretty good money as well. City employees with free passes? When they use their passes, the city pays their fares. SEPTA has been trying to make turnstile jumping more difficult, but needs to install more barriers to do so. More, the system needs point out to those who skip fares they could easily pay just how much they are damaging the entire system.

The entire SEPTA crisis is caused by the cockamamie concept that the people who use SEPTA should not have to pay for the benefit they receive. Just raise the fares to what they need to be to operate the system!

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Beware the Ides of March!

Happy St Valentine’s Day!

I awoke this morning to a tweet from Libs of TikTok, noting that yet another federal judge has tried to block President Trump’s ‘pause’ in foreign aid spending.

Judge orders Trump administration to temporarily allow funds for foreign aid

by the Associated Press | Thursday, February 13, 2025 | 11:53 PM EST

WASHINGTON — A federal judge has ordered the Trump administration to temporarily lift a three-week funding freeze that has shut down U.S. aid and development programs worldwide.

Judge Amir Ali issued the order Thursday in U.S. district court in Washington in a lawsuit brought by two health organizations that receive U.S. funding for programs abroad.

Newsweek noted that Judge Ali was one of President Joe Biden’s last judicial appointees, confirmed by the then Democrat-controlled Senate after the election. Continue reading →

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President Trump cancels the left’s electric vehicle policies

I have always held that if someone wants to buy a plug-in electric vehicle, if he can afford one, he has every right to do so. Alas, Our Betters in the former Biden Administration — and I do so love referring to it as the former Biden Administration! — thought that no, it ought not to be a matter of personal choice or preference, but that people should eventually be required to buy a plug-in electric vehicle. Our American left are pro-choice on exactly one thing.

Trump ended the EV mandate. Here’s what it means for the auto industry.

The transition to electric vehicles is a years-long process that is already underway and faces fierce competition from abroad.

Continue reading →

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‘Sanctuary’ policies could, and should, send those who obstruct justice to jail.

We do not normally use photos from The Philadelphia Inquirer, for copyright reasons, but this one is too important. For a newspaper which editorially supports significant immigration, maybe a picture of demonstrators in support of illegal immigrants might have thought harder about an image with three signs in Spanish.

Philly schools’ immigrant student population is booming. Advocates want the district to recommit to ‘sanctuary schools.’

The population of English learners in the Philadelphia School District is on the rise. Superintendent Watlington says he’s committed to ensuring students feel safe.

by Kristen A Graham | Monday, December 16, 2024 | 5:00 AM EST

At Franklin Learning Center, Michelle Ferguson’s students, all new arrivals to the U.S., are worried.

With President-elect Donald Trump promising stricter immigration laws and mass detention and deportation of immigrants, many students at the Philadelphia School District high school that draws English learners from around the city have shared their fears with Ferguson and other staff. Continue reading →

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John Podesta makes commitments for our government that President Trump will not keep

Yeah, this might not work out!

Conservatives actually love John Podesta. Thanks to his lax computer security, Julian Assange of WikiLeaks was able to hack into many of 2016 Democratic presidential nominee Hillary Clinton’s e-mails, the exposure of which helped her to her strong second-place finish in that election. Mr Podesta helped, in his own inimitable way, to elect Donald Trump!

Cop29: wealthy countries agree to raise climate finance offer to $300bn a year

EU and nations including the UK, US and Australia indicate they will make the increase in exchange for changes to a draft text, sources say

Adam Morton, Fiona Harvey, Patrick Greenfield and Dharna Noor in Baku and Damian Carrington | Saturday, November 23, 2024 | 2:45 AM EST

Major rich countries at UN climate talks in Azerbaijan have agreed to lift a global financial offer to help developing nations tackle the climate crisis to $300bn a year, as ministers met through the night in a bid to salvage a deal.

The Guardian understands the Azeri hosts brokered a lengthy closed-door meeting with a small group of ministers and delegation heads, including China, the EU, Saudi Arabia, Brazil, the UK, US and Australia, on key areas of dispute on climate finance and the transition away from fossil fuels. Continue reading →

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“Queer Advocates” are alarmed that Uncle Sam isn’t going to pay for their kink parties

It was, I suppose, inevitable. As I reported here, a tweet from Chaya Raichik on Libs of TikTok exposed a proposed $1,000,000 federal grant to the William Way LGBT Community Center in foul, fetid, fuming, foggy, filthy Philadelphia, in which Mrs Raichik stated that “includes $1M of your tax dollars to go towards renovating an LGBTQ Center in PA which boasts rooms to try BDSM and s*x f*tishes and hosts BDSM and s*x k*nk parties. There’s even a k*nk party happening there this weekend!”

Upon hearing about that, Pennsylvania’s two Democratic Senators, John Fetterman and Bob Casey, removed the requests for the funding.

Well, of course the kinksters wanted to salvage what they could, and also of course, The Philadelphia Inquirer was perfectly willing to help them do it!

Philly’s kink scene speaks out about safe, ‘very chill’ parties, after Pa. senators pull funding from community center that hosts them

Queer advocates reacted to the withdrawal of funding with alarm.

by Zoe Greenberg | Friday, March 8, 2024 | 10:46 AM EST

The William Way Community Center, a central hub of Philly LGBTQ life since the 1970s, found itself in a media firestorm this week when U.S. Sens. John Fetterman and Bob Casey requested to pull $1 million in federal funding after learning the nonprofit rents space to a group that hosts kink parties.

Kink parties can range from educational workshops to casual networking meetups to play parties, where attendees consent to certain protocols beforehand, said Jamie Joy, a sex educator and kink organizer in Philly. Protocols often include respecting people’s identities and confidentiality, not taking photos or using phones, and negotiating risks and boundaries in a consensual way with other attendees. Many of the parties are explicitly sober.

“These community spaces are where we can actually learn how to be safe and keep each other safe,” Joy said.

Earlier this week, the far-right social media account LibsofTikTok called out Fetterman and Casey for supporting a federal spending bill that included money for “an LGBTQ Center in PA which boasts rooms to try BDSM and s*x f*tishes and hosts BDSM and s*x k*nk parties.” Soon after, the Democratic senators pulled funding they had previously requested. While both senators signed letters to withdraw the funding, Fetterman has said he’ll work to restore it next year.

So, at the very least, Mrs Raichik has saved the taxpayers a cool million bucks. As the Inquirer previously reported:

William Way has struggled to get federal funding this year. In July, Republicans on the House Appropriations Committee voted down several requests for funding of LGBTQ centers, including William Way and two others in Democratic Rep. Chrissy Houlahan’s district.

I can’t see why the federal government is subsidizing any private groups at all!

Some queer and kink advocates reacted with alarm, saying that kink is a normal part of human sexuality and that hosting safe parties that adults consent to attend is not something Congress should try to police. The monthly kink parties at William Way are run by a separate group called the Aviary, and have been held there for more than a decade.

Nope, sorry, wrong answer. Congress isn’t trying to “police” that kind of stuff, but Congress also shouldn’t be paying to support it. What consenting adult queers — hey, if they call themselves that, then so can I! — do amongst themselves, as long as they aren’t messing with minors, is really none of my business, at least as long as they keep it reasonably private. But when they expect me to have to pay for their ‘activities,’ expect the taxpayers to pony up, then we have the right to say no, it’s your business, not mine, and you can pay for it yourselves.

There’s more at the original, as reporter Zoe Greenberg tells us how good and wholesome the BDSM/kink parties are, with one-sided reporting which parrots the kinksters’ propaganda, and they’re just appalled that the Senators, people who have to do something really radical like face the voters — Senator Casey is up for re-election this year — might do things like be concerned about the actual voters in the Commonwealth.

Well, they can do whatever stupid things they want, as far as I am concerned, but they can pay for it themselves.

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Chaya Raichik and Libs of TikTok save the taxpayers a million bucks!

Chaya Raichik, wearing a t-shirt with an image of Taylor Lorenz crying about something, from her Twitter feed.

We have previously noted Chaya Raichik, the creator of the Twitter site Libs of TikTok. LoTT’s schtick is to find the silliest things leftists put on the social media site Tik Tok, and snark them for sensible people on Twitter. Basically, LoTT is mocking people for their own exposed stupidity, and Mrs Raichik has found an absolutely unGodly amount of that stupidity. The left have been so outraged about the site that Washington Post writer Taylor Lorenz spent a lot of time and effort to dox Mrs Raichik, exposing the previously anonymous Tweeter, seemingly in the hope of getting her fired from her position as a Brooklyn real estate saleswoman.

Meet the woman behind Libs of TikTok, secretly fueling the right’s outrage machine

A popular Twitter account has morphed into a social media phenomenon, spreading anti-LGBTQ+ sentiment and shaping public discourse

by Taylor Lorenz | Tuesday, April 19, 2022 | 6:00 AM EDT

On March 8, a Twitter account called Libs of TikTok posted a video of a woman teaching sex education to children in Kentucky, calling the woman in the video a “predator.” The next evening, the same clip was featured on Laura Ingraham’s Fox News program, prompting the host to ask, “When did our public schools, any schools, become what are essentially grooming centers for gender identity radicals?”

Libs of TikTok reposts a steady stream of TikTok videos and social media posts, primarily from LGBTQ+ people, often including incendiary framing designed to generate outrage. Videos shared from the account quickly find their way to the most influential names in right-wing media. The account has emerged as a powerful force on the Internet, shaping right-wing media, impacting anti-LGBTQ+ legislation and influencing millions by posting viral videos aimed at inciting outrage among the right.

The anonymous account’s impact is deep and far-reaching. Its content is amplified by high-profile media figures, politicians and right-wing influencers. Its tweets reach millions, with influence spreading far beyond its more than 648,000 Twitter followers. Libs of TikTok has become an agenda-setter in right-wing online discourse, and the content it surfaces shows a direct correlation with the recent push in legislation and rhetoric directly targeting the LGBTQ+ community.

There’s more at the original, but Miss Lorenz wound up doing Mrs Raichik a favor, as she now has a guesstimated net worth of $800,000, and that’s only expected to grow.

And it should grow: it seems that Mrs Raichik has saved the taxpayers of the United States a cool million bucks!

John Fetterman and Bob Casey pulled support of LGBTQ William Way Community Center after LibsofTikTok kink parties tweet

On Wednesday Fetterman said he only withdrew the $1 million funding request to fend off anticipated Republican attacks, while Casey’s office defended pulling the money.

by Julia Terruso and Aliya Schneider | Wednesday, March 6, 2024 | 3:36 PM EST | Updated: 4:48 PM EST

U.S. Sens. John Fetterman and Bob Casey both signed letters Tuesday requesting to pull federal funding for the William Way Community Center after learning the LGBTQ-focused nonprofit rents its space for BDSM-kink parties.

But Wednesday, Fetterman (D., Pa.) said his staff withdrew the $1 million funding request to fend off anticipated Republican attacks, while Casey’s office defended pulling the money.

Casey spokesperson Mairead Lynn said the Pennsylvania Democrat believes “that consenting adults have the right to do whatever they want in their free time, but these types of appropriations projects warrant the highest level of scrutiny on behalf of taxpayers.”

Fetterman distanced himself from the decision to pull the funding, first telling reporters in Washington he had no knowledge of it, despite his signature appearing on the letter and then later issuing a statement saying the decision was made because of presumed incoming Republican opposition.

“(A)fter learning the LGBTQ-focused nonprofit rents its space for BDSM-kink parties,” huh? I’ve quoted four paragraphs above, but you have to scroll past an advertisement, four more paragraphs, and another advertisement, to get to how the Distinguished Gentlemen from Pennsylvania learned about those “BDSM-kink parties:

News of the funding consideration went viral after the controversial far-right social media account LibsofTikTok, which is operated by Chaya Raichik and is notorious for sharing anti-LGBTQ views, condemned Casey and Fetterman for supporting the allocation, calling attention to the fetish parties.

Raichik wrote that the funding “includes $1M of your tax dollars to go towards renovating an LGBTQ Center in PA which boasts rooms to try BDSM and s*x f*tishes and hosts BDSM and s*x k*nk parties. There’s even a k*nk party happening there this weekend!”

“(C)ontroversial far-right social media account”? “(N)otorious for sharing anti-LGBTQ views”? The article authors make no bones about it: they are fully supportive of the homosexual and transgender agenda.

Going unmentioned in the article is the controversy over the wholly legitimate arrest — though with Philadelphia’s hard left District Attorney not pressing charges — of Philadelphia’s “executive director of the Office of LGBT Affairs” and his ‘husband,’ Darius McLean, Director of Empowerment Programs at the Arcila-Adams Trans Resource Center of the William Way Community Center, due to ‘Celena’ Morrison driving a vehicle with an expired and suspended car, and Mr McLean then stopping to try to interfere with the citation. Messrs Morrison and McLean claim that they were taking the vehicle for repairs, certainly a legitimate trip, but not one which justifies driving an unlicensed vehicle on the public streets. Perhaps Senators Casey and Fetterman were unwilling to associate themselves with any support of the William Way Center at that moment in time.

It’s a simple truth: Mrs Raichik and her “controversial far-right social media account” have would up saving the taxpayers a million bucks!

At the end of the Inquirer’s story:

William Way has struggled to get federal funding this year. In July, Republicans on the House Appropriations Committee voted down several requests for funding of LGBTQ centers, including William Way and two others in Democratic Rep. Chrissy Houlahan’s district.

All three of the organizations had received similar funding in the past.

That’s a start! I, of course, not only don’t see why the government should be funding private “LGBTQ centers”, but cannot see why we should be funding any supposedly private organizations with taxpayers’ dollars. The William Way Center should be able to support itself with private donations, and if it can’t, then it does not deserve to stay open.

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Maybe Jeff Bezos could spend some of those tax savings on The Washington Post?

I will admit it: I liked the way that Amazon founder Jeff Bezos bought The Washington Post, to save it when the Graham family were running out of money. Full disclosure: I am a basic digital subscriber to the Post. I have previously said that I appreciated billionaires who bought newspapers, to fail an otherwise failing industry, as long as they understood that losses were inevitable. Sadly, Mr Bezos isn’t too happy with that last part. We have also noted that Patrick Soon-Shiong, the billionaire who bought the Los Angeles Times, with a piddling $5.9 billion to his name, might feel much more pressure than Mr Bezos, current guesstimated net worth of $194.1 billion, in taking $40-$50 million a year losses.

Well, perhaps Mr Bezos can put a little less pressure on the Post, now that he’s made this money-saving move:

Jeff Bezos will save over $600 million in taxes by moving to Miami

by Robert Frank | Monday, February 12, 2024

  • Last year, Bezos announced on Instagram that he was leaving Seattle after nearly 30 years to move to Miami.

  • In 2022 Washington state imposed a new, 7% capital gains tax on sales of stocks or bonds of more than $250,000.

  • Bezos plans to unload 50 million shares of Amazon before Jan. 31, 2025. Posting those sales in Florida will save him at least $610 million.

Jeff Bezos’ $2 billion stock sale last week came with an added perk: no state taxes.

Last year, Bezos announced on Instagram that he was leaving Seattle after nearly 30 years to move to Miami. He said the move was to be closer to his parents and his rocket launches at Blue Origin. The timing also suggested another reason: taxes.

In 2022 Washington state imposed a new, 7% capital gains tax on sales of stocks or bonds of more than $250,000. Washington state doesn’t have a personal income tax, so the new levy marked the first time Bezos would face state taxes on his stock sales.

Starting in 1998 Bezos sold billions of dollars worth of Amazon shares almost every year for more than two decades to fund his philanthropy, his space company Blue Origin, and more recently his $500 million mega yacht and a growing collection of mansions purchased with his fiancé Lauren Sanchez.

In 2022, when the tax took effect, Bezos stopped selling. He didn’t sell any Amazon stock in 2022 or 2023, gifting only $200 million of shares at the end of last year.

After his move to Miami, Bezos made up for lost time. Last week, a filing with the SEC revealed that Bezos launched a pre-scheduled stock-selling plan to unload 50 million shares before Jan. 31, 2025. At today’s price, that would total more than $8.7 billion.

Simply put, rapacious state governments trying to steal more money from the people who earned it wind up influencing the decisions of the people who earned that money. Mr Bezos had the freedom to move away from the left coast to the far more sensible Sunshine State, and did.

Florida has no state income tax or a tax on capital gains. So on the $2 billion sale last week, he saved $140 million that he would have paid to Washington state. On the entire sale of 50 million shares over the next year, he will save at least $610 million. And that’s assuming Amazon shares remain flat. If they continue to rise, the value of his shares — and his tax savings — will be even higher.

That’s some major bucks he doesn’t have to give to a left-wing state government, which would doubtlessly spend it on welfare and illegal aliens. Mr Bezos could, and should, spend some of those savings on the Post, to decrease the financial pressure on that august newspaper, at least if his girlfriend Lauren Sanchez doesn’t persuade him to waste more of it on yachts and mansions.