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IRS Billionaire leak: Bezos paid $0 in income tax, got a $4k tax credit for his two kids
Posted on 6/8/21 at 11:46 pm
Posted on 6/8/21 at 11:46 pm
quote:
From Jeff Bezos and Elon Musk to Warren Buffett and Michael Bloomberg, almost all of America’s 25 richest people paid $0 or negative income tax in some years and a much lower tax rate than middle-class Americans in others, an investigation of leaked Internal Revenue Service data by ProPublica has found.
It’s barely news that the ultra-rich often find ways to legally avoid taxes. But the report for the first time sheds light on specifically how little they actually paid in recent years. ProPublica looked at tax return data of thousands of America’s wealthiest people over a time span of more than 15 years.
LINK
quote:
The findings are unnerving. For example, Bezos, the world’s richest person, didn’t pay any income tax in 2007 and 2011; Musk paid $0 in federal income tax in 2018; and billionaire investor George Soros did the same three years in a row.
CNN LINK about the investigation into the leak
SIAP, checked but didn't see anything
quote:
New York (CNN Business)The Biden administration said Tuesday it is investigating how tax information from several of the world's richest people -- including Jeff Bezos, Elon Musk and Warren Buffett -- was leaked to the public.
This post was edited on 6/8/21 at 11:48 pm
73
Posted on 6/8/21 at 11:47 pm to Kujo
This will never change. Could care less, I just worry about myself.
Posted on 6/8/21 at 11:48 pm to Kujo
Tax laws are written by the ultra rich and corporations.
Cretins like Bezos buy up propaganda rags like the Washington Compost to influence propaganda and the way people think, to drum up support for corporatist politicians who will make life easier for their companies and crush the competition
Cretins like Bezos buy up propaganda rags like the Washington Compost to influence propaganda and the way people think, to drum up support for corporatist politicians who will make life easier for their companies and crush the competition
Posted on 6/8/21 at 11:48 pm to Kujo
quote:
$4k tax credit for his two kids
I have 4 kids.
Either he needs to be in jail, or I need to fire my accountant.
Posted on 6/8/21 at 11:50 pm to Kujo
quote:
$0 in income tax
Posted on 6/8/21 at 11:50 pm to Kujo
Interesting they use illegal material in their report.
Posted on 6/8/21 at 11:50 pm to goldennugget
Conservatives need to learn not to be so defensive of corporations. Its OK to be free market but corporations these days have turned our government into an oligarchy
Corporations pass laws that help them and crush their small business competition then run virtue signalling marketing campaigns calling you evil if you are white, if you don't vote democrat, if you believe in biblical values, etc.
Corporations pass laws that help them and crush their small business competition then run virtue signalling marketing campaigns calling you evil if you are white, if you don't vote democrat, if you believe in biblical values, etc.
Posted on 6/8/21 at 11:51 pm to Kujo
quote:
The Biden administration said Tuesday it is investigating how tax information from several of the world's richest people -- including Jeff Bezos, Elon Musk and Warren Buffett -- was leaked to the public.
If Trump's was leaked, amazed it wasn't, Biden would be using it for political capital versus trying to track down the ne'er do well leakers.
Posted on 6/8/21 at 11:52 pm to Kujo
Bezos has so many Amazon shares from the jump that he probably doesn't take a paycheck.
Then reports losses of investments and Tada.
Then reports losses of investments and Tada.
Posted on 6/8/21 at 11:59 pm to Kujo
I'm not sticking up for these guys, I'm sure they found ways.
But Bezos has never raised his salary at the company. It's not like he'd be paying a lot on his actual wages. Probably lower bracket than Biden.
People aren't going to read this and see their little graphic and not come to complete conclusions on how it works.
And things like lockdowns and shutting down pipelines get Bezos and Buffet more money. So there is that.
But Bezos has never raised his salary at the company. It's not like he'd be paying a lot on his actual wages. Probably lower bracket than Biden.
quote:
Under current U.S. laws, gains from these assets are not considered taxable income until they are sold.
People aren't going to read this and see their little graphic and not come to complete conclusions on how it works.
And things like lockdowns and shutting down pipelines get Bezos and Buffet more money. So there is that.
This post was edited on 6/9/21 at 12:07 am
Posted on 6/9/21 at 12:04 am to crewdepoo
quote:
This is why Democrat’s are trying to tax the rich
Please tell me you are trolling. There is no possible way you are this stupid.
Posted on 6/9/21 at 12:06 am to fastedLSU
quote:
Could care less
Damnit
Posted on 6/9/21 at 12:07 am to Kujo
ProPublica Journalists were looking to do a gotcha on Trump and found these folks. 
This post was edited on 6/9/21 at 12:08 am
Posted on 6/9/21 at 12:12 am to crewdepoo
quote:
This is why Democrat’s are trying to tax the rich
I feel like retroactive taxes is just straight stealing no matter how wealthy you are.
Is this just me?
ETA: frick that form of wealth redistribution.
This post was edited on 6/9/21 at 12:22 am
Posted on 6/9/21 at 12:39 am to Kujo
Unless someone can show me where something illegal was done I have no problem with it. I also get tired of people that don’t understand the difference between taxes on capital gains, and taxes on income when saying people like Buffet get to pay a lower rate than one of their employees.
Posted on 6/9/21 at 12:45 am to EA6B
quote:
Unless someone can show me where something illegal was done
In what circumstances is leaking private tax records to a media outlet legal?
Posted on 6/9/21 at 2:03 am to Kujo
This is clickbait bullshite. Unless you understand how the taxation system works and HOW they got to $0 on paper, then you’d know it isn’t $0 in reality. But we need to be outraged with a smoking gun and a headline
Posted on 6/9/21 at 2:23 am to Kujo
And y’all all against them paying their fair share
Posted on 6/9/21 at 3:04 am to CGSC Lobotomy
quote:
In what circumstances is leaking private tax records to a media outlet legal?
He’s not taking about the leakers or the media outlet. Read it again.
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