Here's a good one. Jeff Bezos, Michael Bloomberg, Warren Buffett and Elon Musk all walk into the IRS. But none of them, in various years, seem to have paid federal income taxes.
Or how about this one: The rich get richer … because they don't always pay their fair share into the community chest.
This is US tax law. And now we have a map of how the wealthiest people exploit it thanks to a bombshell report from ProPublica, the investigative journalism nonprofit, which claims to have obtained years of tax returns for the wealthiest people in the country from an anonymous source. Read it here.
Its first report (it promises more to come) is on the richest of the rich, who in certain years claim losses that can wipe out their income tax bills. This should sound familiar; former President Donald Trump did the same thing.
But that doesn't mean it shouldn't be a scandal that Bezos, the richest person on Earth — who has used his vast wealth to start a spaceship company that will take him into space, where he will also be the richest person — has in multiple recent years told the federal government he owed no income taxes, according to ProPublica.
ProPublica also reports that Musk, the second wealthiest human on Earth, whose wealth has grown many billions in recent years and who also has a passion project space company, told the government he owed no income tax in 2018.
Read ProPublica's full report here:
#ChristineRomans #CNN #NewDay
Read ProPublica’s full report here: https://bit.ly/3zeSAyH
@It’s alright to be white. The same as every rich. either by name or a (corp.)… you don’t understand what im trying to get you to understand.. ALL RICH PEOPLE ARE THE SAME! as long as the profit is for them(rich) and not the GOOD for the people(YOU/the average person or the poor), who desperately needs it.. hope you get it now
@It’s alright to be white. in other words.. they don’t make the money go around everyone.. just themselves.. kinda like they are baking the cake AND eating it.. and you don’t get the fair share(piece of the pie) when you are the “delivery man” who gets them the ingredients for the cake..
@Nah Bruh Biden uses government to threaten his way and even so far as to get is crack addicted zero experience son an oil job in Ukraine making 80k a month. What if that was Trump?
I dislike the way the anchors smile as they report this and as if this is perfectly ok for the plebeians to pay taxes every year on clock otherwise threatened with liens ..etc. more of their fair share?
TRY.. not paying taxes ever!!
The company changed they name from Eden lines logistic from incorporated no a whole change to logistic X. So they let the dude from Hillcrest follow me to a Pepsi delivery, he had fainted on the field left in a ambulance and everything he played for the jets broncos and patriots. So they trying to cover for him with making me Dona bling load to Pepsi. I picked up in NY and drove to MA. For one Cardi B do Pepsi commercials and dude fainted and people have been dealing with legal trouble and they keep causing problem this was planned. They got me out here looking bad, o been late all week I been having problems with my homework, I got finals next Week. The other soldier lived in green wood IL
And was going to school in country club hills IL I faxed the school and told them I told the feds about him being paid by the military and his whole life a lie. This mC number is 427381. They making me drive a truck that supposed to take DEF but they ran the engine a different way so it doesn’t need DEF when fueling it’s always full on the dashboard. It’s a 2016 freightliner. 2393 is the truck number. I’m so sick of this mess. Please help me.
Well, the tax code is written by rich lawyers and politicians to benefit rich lawyers and politicians. Change it NOW.
@FMF CHOP 👈flagatron minus the L
Not a Democrat. Just a coward.
Until then refuse to pay your taxes. Equal protection under the law. Use that.
You ask wolves to change?) No matter billionaire or a gavernor all of them are predators.
If the rich start paying more taxes, y’all think your taxes will go down? Lol, that’s funny.
They are the owners of the whole f**King Country. They own the country. It is their property. Why they have to pay taxes?
I was threatened with jail time from the IRS over $3,000 in taxes. This is disgusting 🤢🤮🤮🤮
@James Graham – Do you REALLY BELIEVE that millionaires/billionaires like Bezos and Zuckerberg “work 100 hours a week”??? Hell, tRump barely work a few hours a week while he was a so-called “president”. Don’t be such a fool in believing that nonsense.
@Im My Opinion I’m sorry, but companies don’t manipulate anything… They follow regulations that were passed by elected legislators. The problem is that these manipulations as you call them, are written into laws and the people that exploit those loopholes are the ones paying for the senators reelection next election cycle.
@ape kaspank reach out to Mrs Jasmine M Frankie, she is the best crypto manager
Fb
Jasmine M. Frankie
@Abigail Lucas LMAO! Anyone who has even the tiniest remote knowledge of crypto demons themselves a “crypto manager”. A crypto manager is an idiot who thinks that I’m dumb enough to listen to their advice about things that I could get general knowledge of in verified forms and documents on the Internet. Reddit is a great place as long as you’re not looking at the politics section.
It’s called the “Golden Rule”. Those with the gold make the rules.
All Democrats are millionaires
@Jasmany Foch Prove it.
Elon Musk is the worst immigrant ever
@Allen Ang Rich people paid them to through campaign finance.
This is one of the reasons why this country is in the shape it’s in, the politicians designed this and president Biden needs to redesign it, when the regular people of the country get hit harder than the rich we are not created equal.
The IRS needs to reach back and make the rich catch up paying their fair share like any other citizen in America, the reason for the tax break is quid pro quo, the rich give huge donations to these politicians and they expect something in return.
“The rich pay 90% of taxes” – says every conservative
@gljm 1159 – LOL. What? did my “joke” let the air out of your Marxist narrative? LOL!!!
@Don nawzd should we pull funding for your politician’s security as well?
@colonel 100
I must have hit a nerve
@H.Bedlam True, but they donate to support the globalist socialist policies of the Democrats and oppose Republicans. However, they will always continue to eat filet mignon on their private jets filled with underage prostitutes while we can’t afford to heat our soylent green
Spoiler alert: Conservatives lie.
Middle class always pays for the rich to live rich.
Don’t understand…..I mean we have middle class Joe running the damn country? Democrats have the house and senate….POTUS. WHATS THE FUCKING HOLD UP! WHERE IS THE IMMIGRATION REFORM?
@Tommy Thompson Democrats barely have a majority in the senate and joe manchin is blocking all of Biden’s proposals.
Welcome to our “perfect” free market, capitalist economy. It’s always fair right!?
https://youtu.be/0AcMp9JJ8q0
Haha they bought that bullshit lock stock and barrel. It’s been repeated so much no one questions it. Capitalism is fair, the sky is blue.
Quit bitching and propose a better system if you can?
@FMF CHOP
Raise taxes for the rich??
Nobody ever claimed it was fair.
Life isn’t fair. The Universe isn’t fair.
Meanwhile I’m paying 25% of my paycheck
So sad
Worst is you,me and everyone are hard working citizens.
I like how the news says it’s done because “complicated tax law”. The government made the rules and are the ones complaining.
dude buffet already said that his secretary PAY MORE TAXES THAN HIM.
If you really understand it, his secretary is in a higher tax bracket.
all this so Jeff Bezos can make himself into an “astronaut,” and Elon Musk can lead his cult on mars. BS
If Elon wants to go to Mars, let him. If he dies of thirst, hypothermia or radiation burns, great. We’ll never miss him.
@Daniel Schaeffer Elon Musk should be treated the way other cult leaders are treated: with suspicion.
Did you know Elon was raised by a sociopath from the age of 10 to 18? Elon Musk’s dad is evil, and abused Elon badly.
I think this is why Elon Musk is so driven to get to Mars. to prove his dad wrong. I think Elon Musk’s judgement is being clouded by his desire to prove his dad wrong.
His dad told him he would fail at his goals. Elon is a messed up human, with dangerous dreams.
Jeff Bezos is a nerd. A wannabe astronaut who would never make it into space without being a billionaire.
The world doesn’t need these men.
https://youtu.be/0AcMp9JJ8q0
@José de Jesus Jeff Bezos is a nerd who gets women you dream about, and your women would leave you for him in 20 seconds if she could. So just keep sulking over your little itty bitty bank account.
@James Graham Is Bezos your daddy? Because you are taking this just a little too personal? Or maybe you think if you white knight for him he will kick you down some table scraps?
adding extra taxes for the rich isn’t the answer. You need to fix the loopholes they’ve been exploiting.
That’s too smart of an idea bro, if they do that than how will these politicians make money on their special interest companies?
https://youtu.be/0AcMp9JJ8q0
This just shows how corrupt this system really is…
It’s not corrupt. Let’s say you spent $1,000 of you income on Tesla stocks, then after a year those shares are WORTH $100,000 but you don’t sell it, (your net worth went up $99,000) you decide to wait and see if it’ll be worth more the following year (the $99,000 profit never goes to your bank account), but, uh oh enough people complained so now the tax law is different so the IRS says, “You need to pay taxes on the $99,000 increase in wealth, even though the $99,000 is just an increase in stock value, and you never obtained that as real spendable income because you still haven’t sold those stocks”. So, without selling those stocks, how do you plan on paying those taxes? That’s what these people do, they don’t actually HAVE that money, they are worth that amount because they own something that is worth that amount. Actual Income vs Net Worth are 2 completely different things. It would be the same as saying, you bought a home for $150,000…10 years later it’s worth $230,000 you still live in the home, you’re not planning on selling it, but your wealth increased $80,000…should you be forced to pay taxes on that $80k even though you didn’t earn that $80k as income?
People : what is the government gonna do?
Government: we are going after whoever leaked this information!
https://youtu.be/0AcMp9JJ8q0
@David Norris that’s what was so crazy to me about the snowden stuff. He exposes corruption and injustice and instead of fine tuning the system and eliminating the shadow powers of the government they want to destroy the messenger. Twilight zone world
@Johnathan Will I absolutely agree. At least the twilight zone had the decency to have a conclusion at the end of the episode. This is closer to the twilight zone being one continuous episode spanning many years.
@David Norris lol a marathon
Take down the rich and you take down government influence.
Yep, this makes me MAD that they pay less tax than the average person… Sen. BERNIE SANDERS HAS BEEN CORRECT ALL THIS TIME!
“They’re not like us” dude I’m nowhere close to your tax bracket
She laid that out perfectly: “this country taxes on income not wealth”
Jeff Bezos Just bought a 166 million dollar mansion and a 500 million dollar yacht. I suppose that is all tax deductible under off ice expense. You people suck. I should be able to write off my fishing boat and the lap dances I get as a Mental Health expense
https://youtu.be/0AcMp9JJ8q0
@Dale Petersen lmfao
Wealth and income aren’t the same. Imagine your house goes from 300k to 500k. Why would you pay taxes on the gain in value until you sell? You don’t even have access to it until you sell. Are they gonna give you the money back if your home value drops down again?
Do you know that the majority doesn’t even have money to buy a house? 🤡
Most fools commenting don’t realize nor understand this. Lived in France & Switzerland which both had wealth taxes to be paid every year on the net present value on everything you owned, including pensions and retirement accounts. Oh and if the net present values went down the following year, big deal there were/are no loss carry overs, you wealth went down you just paid less. Macron did away with the wealth tax in France because so much of it was tied to unrealized gains in financial assets, which essentially penalized investors which France needed/needs badly.
Look at these millionaires pretending to be regular people. I’ll wait for these 1 percenters To go ahead and send 90 percent of their paychecks in. 😂