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Tuesday, June 15, 2021

Why Billionaires Pay So Little Tax - The New York Times

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Jeff Bezos, Michael Bloomberg, Elon Musk and George Soros are household names. They are worth billions and are among the wealthiest people in the United States.

A recent report by ProPublica has found another thing that separates them from regular Americans: They have paid almost nothing in taxes.

Using a complex web of loopholes, they have been able to do so while remaining inside the bounds of the law.

Why does the U.S. tax system let that happen?


Jonathan Weisman, a congressional correspondent for The New York Times.

Elon Musk was among those able to benefit from the fact that the United States puts its emphasis on taxing labor income as opposed to wealth.
Ringo H.W. Chiu/Associated Press

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Jonathan Weisman contributed reporting.

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June 15, 2021 at 05:00PM
https://www.nytimes.com/2021/06/15/podcasts/the-daily/jeff-bezos-elon-musk-billionaires-taxes.html

Why Billionaires Pay So Little Tax - The New York Times

https://news.google.com/search?q=little&hl=en-US&gl=US&ceid=US:en

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