Tax Data Reveals Elon Musk Didn’t Pay Taxes in 2018

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June 8, 2021, 21:07 GMT

A report highlighted that wealthy people such as Bill Gates and Warren Buffett pay much lower taxes than ordinary people in the United States.

America’s richest people pay very little tax compared to their earnings, or sometimes even nothing, according to files Obtained by the investigative journalism organization ProPublica.

Amazon founder, Jeff BezosNow the richest in the world, he was already a billionaire in 2007, but he didn’t pay a penny in federal income taxes, a fact that was repeated in 2011.

second richest person, Elon MuskThe founder of Tesla and SpaceX, did not pay income taxes in 2018.

Michelle Bloomberg, former New York mayor and co-founder of Bloomberg, the financial and media agency Carl Icahn s George Soros They managed to do the same thing one or more times in recent years.

These facts are revealed in a huge set of data from the US Internal Revenue Service about the tax contributions of thousands of the country’s richest people over the course of 15 years.

Availability of data impression without precedents To the financial lives of American business tycoons including Warren Buffett, Bill Gates, Rupert Murdoch and Mark Zuckerberg, reveal not only their earnings or taxes paid, but also their investments, businesses, and even the results of audits.

Many Americans pay an increasing proportion of their income as their wealth accumulates. In recent years, the average household income دخل $70,000 annually, Pay the 14% in federal taxes. The highest income tax, 37%, was introduced this year for couples whose earnings exceed $628,300 annually.

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Secret data obtained by ProPublica highlights that the very wealthy are effectively circumventing this tax system, taking advantage of tax evasion schemes Not available to ordinary people.

According to Forbes magazine, the 25 richest people in America have seen an increase in their collective wealth 401 billion dollars Between 2014 and 2018. In that period they paid a total of $13.6 billion in federal income taxes, according to tax data, which represents only 3.4%.

Warren Buffett, Chairman and CEO of Berkshire Hathaway Financial Group, is a champion of tax evasion, despite his public standing as a higher tax advocate for the wealthy. His assets grew by $24.3 billion between 2014 and 2018, while he paid $23.7 million in taxes, or 0.1%.

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Myrtle Frost

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