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Videos » News & Politics » Leaked IRS Files: Billionaires Bezos, Musk, Bloomberg, Buffett Avoided Taxes as Wealth Soared

Leaked IRS Files: Billionaires Bezos, Musk, Bloomberg, Buffett Avoided Taxes as Wealth Soared

Posted by Scotty Reid
A major exposé by ProPublica has revealed how U.S. billionaires pay little in income tax compared to their massive wealth, or sometimes even nothing. Private tax records of some of the country’s top billionaires show that between 2014 and 2018 the wealthiest 25 Americans saw their collective wealth jump by more than $400 billion, but they paid just over $13 billion in federal income taxes — amounting to a tax rate of just 3.4%. “Typical wage earners like you or me, we pay taxes every time we get a paycheck,” says Jeff Ernsthausen, a senior data reporter at ProPublica. “But for the ultra-wealthy, it’s a completely different story.” #DemocracyNow Democracy Now! is an independent global news hour that airs on nearly 1,400 TV and radio stations Monday through Friday. Watch our livestream 8-9AM ET: https://democracynow.org Please consider supporting independent media by making a donation to Democracy Now! today: https://democracynow.org/donate FOLLOW DEMOCRACY NOW! ONLINE: YouTube: http://youtube.com/democracynow Facebook: http://facebook.com/democracynow Twitter: https://twitter.com/democracynow Instagram: http://instagram.com/democracynow SoundCloud: http://soundcloud.com/democracynow iTunes: https://itunes.apple.com/podcast/democracy-now!-audio/id73802554 Daily Email Digest: https://democracynow.org/subscribe
Posted Jun 9 - Filed in News & Politics
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