IRS Data: Democrat Billionaire Mike Bloomberg Pays Less than Half the Tax Rate Paid by Average American

Billionaire Michael Bloomberg, the failed Democrat presidential primary candidate and former New York City mayor, is paying less than half the federal income tax rate the average American taxpayer pays, newly published Internal Revenue Service data reveals.by ProPublica that gives a glimpse into the tax loopholes that the richest 400 Americans utilize every year to dodge billions in federal income taxes that most Americans are required to pay.

Bloomberg, ProPublica reports, “achieved one of the lowest tax rates in the top 400” richest Americans from 2013 to 2018 “partly by taking annual deductions of more than $1 billion, mostly through charitable contributions.” , pays every year. In fact, Bloomberg’s average rate is just 0.5 percent more than what the bottom 50 percent of income earners pay on average.Bloomberg’s massive tax breaks are thanks to provisions signed into law by former Presidents George W. Bush and Donald Trump.

Now do trump

auctnr1 Such a stupid post. Tax laws make it legal. Hell, I’d rather open a blockbuster than pay the government paper money

Of course he does!

So. That’s still millions

How does he get away with it?

Just too short.

Now do Trump, the one-term president who failed to get re-elected.

Turncoat

This was known for years. Why cover this now? You love it when Trump does the same.

No different than Trump paying $700... Just saying... TeamTrump SoMuchWinning

The left want YOU to pay your fair share in taxes, but never themselves.

blackbookbloomberg is not a Democrat he is a Republican pretending to be a Democrat and the dnc allows this because of his money to support corporate Democrats.

That's how it works, they tell us one thing while doing another.

Ok, which moron gave tax breaks to billionaires?

But nobody pays lower taxes than Trump

It’s ok, he’s a dem. Their untitled.

Matt Gaetz says he's boycotting Disney. Well at least there's ONE place in Florida where teen girls can go and be 'Safe'!

We need a flat tax rate, or a sales tax only system.

So? When you have billions you exploit every loophole you can... they ALL do this...

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