Elon Musk, Jeff Bezos and other billionaires had paid exactly 0% of Income Tax.

[Rocky Arbigaus]

Summary

  

America's wealthiest individuals, including Jeff Bezos, Michael Bloomberg, George Soros and Elon Musk, paid little to no federal income tax for years, according to tax returns leaked to the investigative website ProPublica.

ProPublica said it has seen the tax returns of the country's wealthiest people covering more than 15 years.

The White House condemned the unauthorised leak on Tuesday and the US Treasury said it had been referred to the FBI.

ProPublica compared what the 25 richest Americans paid in taxes against how much Forbes estimated their wealth grew during the same period, and found they paid just a fraction in federal income taxes - $13.6 billion - on $401 billion in increased wealth.

It claims to have seen the tax returns of Mr Bezos, the founder of Amazon, Tesla founder Mr Musk and billionaire investor Warren Buffett.

 

Quotes

Quote

What ProPublica calls the "true tax rate" means that Mr Buffett, for example, paid only 0.1 percent in taxes between 2014 and 2018.

 

My thoughts

 While the article stated that "There is no suggestion that any of the individuals acted illegally", It show how absurd the situation really is. The average North American pays, in average 10% to 37% income taxes. The fact that Billionaires can get away with almost 0% server to broaden the gap between poverty and wealth.

No one is saying "Eat the rich", but, let's face it, if you have a lot of money, it becomes more and more difficult to lose it.

 

Sources

https://www.telegraph.co.uk/news/2021/06/08/rich-americans-including-jeff-bezos-elon-musk-paid-little-no/

https://www.thetimes.co.uk/article/richest-americans-including-jeff-bezos-and-elon-musk-avoided-billions-in-tax-leak-reveals-bfcnl0s0h

[RejZoR]

It's disgusting how rich can easily get even richer by exploiting all the loopholes entirely impossible to use by regular people. It's also disgusting that these rich people hoard so much money they couldn't possibly spend in 100 lifetimes meanwhile people struggle to literally put food on their table. In fucking same countries as these rich fuckers, possibly even working for these billionaires as underpaid workforce in shitty conditions. And so far I've only heard about one millionaire/billionaire dude who paid his workers proper salaries to a point they were almost leveled and not the ginormous gaps between workers and CEO's in 99,99% of other companies. It's bad everywhere, but it's especially bad in US of A given how everyone is still going with the "land of opportunity" meanwhile most of its people struggle to have fucking healthcare in order... What kind of fucked up "land of opportunity" that is when 10 people there had the opportunity and the rest are just peasants to these rich bastards. Arrrrgh, this makes me so mad.

[Spotty]

Thread locked. Rich people not paying their fair share of taxes is not tech news (or even news).

 

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