reported Tuesday it had obtained a massive trove of IRS documents, revealing that America's wealthiest individuals have avoided paying billions of dollars in taxes for years, resulting in income tax bills that amount to a fraction of their net worth.Many Americans borrow money only when they have to for large purchases like college tuition or a house, as interest can quickly add up, especially if they're not able to pay back the loan right away.
America's 25 wealthiest individuals saw their net worth grow by $401 billion from 2014 to 2018, according to Forbes. But they paid a total of $13.6 billion in federal income taxes in that same period, amounting to 3.4% of that newly acquired wealth, ProPublica found. However, ProPublica's analysis revealed in new detail how America's tax code allows the ultrawealthy to take advantage of a litany of tax loopholes and wealth-management strategies to increase their wealth without also increasing their tax bills substantially.
HowManyDaysAreMyOrdersDelayed
Interesting read, I noticed Carl Icahn said 'I didn't make money because, unfortunately for me, my interest was higher than my whole adjusted income' if I'm not mistaken he uses margin loans from his stock investments their not that bad if use wisely I use them too.
elonmusk JeffBezos BillGates any chance you'd be willing to send be 1 bitcoin. According to this article you're in a great space to do so.
poor people should not pay taxes
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Richest Americans pay almost no income taxes, report findsThe 25 richest Americans paid little to no federal income taxes, according to a report released Tuesday by ProPublica, a claim that has reignited debate about the tax code and sparked an investigation by the IRS into the leak of private tax documents. The ONLY THING that will come of this is that you and I will damn sure pay more taxes than the rich guys vwheato For Shame. If they could only pay their taxes maybe we could get this Country out of debt.? The IRS would be better served investigating the loop holes and catching the fraud…hell with the leaked info..
Source: NBCNews - 🏆 10. / 86 Read more »
Many of the uber-rich pay next to no income tax, report saysUsing legal tax strategies, many of the uber-rich are able to shrink their federal tax bills to nothing or close to it, ProPublica said in a new report. Sick of hearing about it. How many more Panama Papers before we switch up the narrative. We know the rich don't pay taxes. They have a million ways to play the game while our moms are paying mad tax on that 15 an hour. Start writing about how to change this.
Source: latimes - 🏆 11. / 82 Read more »
ProPublica Investigation Proves Billionaires Won the Class WarThe public-interest news organization has obtained tax information on the wealthiest Americans, and how little they pay the IRS Ok I Kill that Bastard Bernie 2024 And you were the FIRST to sell out Rolling Stone, and put mullusk on the fuckin cover TWICE. Does anyone even subscribe to your dogshit magazine anymore? Y'all promoted this horseshit, thought the magazine was about rock and roll culture.
Source: RollingStone - 🏆 483. / 51 Read more »
As If You Needed Another Reason to Loathe This ManOh, look, a large group of billionaires paying little to nothing in income tax for years. EmmaPeel_Knight This is a new story every year for years and years.
Source: TheCut - 🏆 720. / 51 Read more »
Opinion | Return of the IRS ScandalFrom WSJopinion: Someone leaked the tax information of rich Americans to serve the left’s agenda, but the details don’t prove what ProPublica claims, writes The Editorial Board opinion The whitewash begins, opinion. Good work, propublica keep digging. You obviously hit a rich vein. opinion You don't think the American people are smart enough to not believe your horseshit? Wealth is very disproportionate in this country and that's going to change ✌️🇺🇲💙 opinion Unfortunately literally nothing will happen except get a bunch of people in an uproar & then some celeb will do something stupid & BOOM all is forgotten if POTUS won’t push SenWarren’s ultra wealth tax there’s no hope. He’s in bed with Bezoz anyway
Source: WSJ - 🏆 98. / 63 Read more »