25 Richest Americans Paid Little to Nothing in Federal Income Taxes

Automatic TRANSCRIPT

Bombshell report by propublica reveals. Just how little. The wealthiest americans have been paying in taxes. Propublica obtained more than fifteen years of never before seen irs information about the twenty five richest americans and found that sometimes they paid little or no federal income taxes in two thousand eighteen. for example propublica found elon. Musk paid no federal income tax. Neither did jeff bezos in two thousand seven or two thousand eleven the same year he claimed a four thousand dollar child tax credit and renowned investor. Warren buffett avoided the most tax of any of the billionaires propublica to the report as shocking as. It is nothing that they did is illegal. Everything that they did is in keeping with our tax code and the basic reason is we tax income not wealth. Rich people often grow their fortunes through stocks real estate or companies so they don't have to pay taxes until they sell and they can offset their income and other ways to meaning. It's legal to be worth a lot and pay a

Coming up next