Richest Americans Like Bezos, Musk Avoided Income Tax

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A report finds that America's billionaires are good at dodging the tax collector an anonymous source delivered reams of Internal Revenue Service data to ProPublica a nonprofit investigative journalism organization the report found the richest twenty five Americans pay less in taxes than many ordinary workers do an average of fifteen point eight percent of adjusted gross income tactics include the use of charitable donations and benefiting mainly from investment income tax around twenty percent instead of thirty seven percent for wage income among other findings Amazon founder Jeff Basil's paid no income tax in two thousand seven and two thousand eleven and Tesla founder Elon musk paid zero income taxes in twenty eighteen financier George Soros paid no taxes for twenty sixteen to twenty eighteen which is spokesman attributed to the billionaire losing money on his investments IRS commissioner Charles Rettig testifying today before senators on the finance committee said that when it comes to enforcement of tax collection the agency is out gunned as far as the pro publica data he said they are investigating the leak I'm Jennifer king

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