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Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

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Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.

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davearonson

davearonson

Oh, that one’s easy. They make most of their wealth by buying and selling… you thought I was gonna say stocks… nope, politicians. Most of the tax code is about how to let the filthy stinking rich hang onto every last cent, made up for by soaking the “little people” (in the words of Leona Helmsley) who can’t afford the accountants, lawyers, and time, to fight the IRS.

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AstonJ

AstonJ

It’s very sad. I hope humanity and capitalism will move towards principles higher than that of making money - making money is fine, but it should not be the priority and at the cost of everything else - other things are more important and crucial.

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