about $23 million in income tax. propublica calculates that as a true tax rate of wait for it 0.1%. jeff bezos, he added $99 billion in wealth between 2014 and 2018 and paid less than 1% in federal income taxes. so when you compare bezos to the typical american household, it s even more stark. in this chart, the yellow line represents total taxes paid while the black line shows wealth growth. notice anything strange? the typical american household is paying more in taxes than their wealth is growing while jeff bezos taxes, they stay relatively the same and his wealth is going to the moon, literally. the reasons for all of this? the u.s. taxes people based on income, not wealth. there s also plenty of tax loopholes. what is the solution? le with, depends on who you ask. some democrats like senator
billion, he only paid $973 million in taxes at a rate of less than 1%. if you re jeff bezos on top of this wealth and getting richer by the day, that doesn t get transformed in income. you don t have to put it on your tax return until you sell your stocks, generally. for buffett, who has said in the past he favors raising taxes for the rich, his wealth grew by $24 billion, and the amount of taxes paid, $23.7 million or 0.1% of his wealth. huge dynastic wealth is not desirable for our society. according to propublica s analysis, the top it would take 14.3 million ordinary american wage earners to make that same amount of wealth. the i.r.s. and fbi are investigating this leak, and the
income taxes, neither did elon mussing in 2018 and not a benny from soros between 2016 and 2018, and it s all legal, thanks to u.s. tax codes which focus more on wages as opposed to investments which are usually taxed at lower rates. that s something billionaires like bezos can take advantage of, along with complicated tax loopholes and write-offs. propublica says while the world s richest men in wealth group $99 billion between 2014 and 2018, he only paid $973 million in taxes, at a rate of less than 1%. if you re jeff bezos sitting on top of this wealth and getting richer by the day, that doesn t get transformed to income. you don t have to put that on your tax return until you sell your stock, generally. for buffett who has said in the past he favors raising taxes for the rich, his wealth group by $24 billion between 2014 and
would have pay zero of income tax in two years or elon musk you and i and most of the viewers are in attack system. we get salaries. we get our taxes extracted from that you re outside the texas contracted in americaed the. so this is what is fascinating. so okay, you mentioned jeff bazos. let s start with him. he s going to space next month. you mentioned he didn t pay federal income taxes in two years. so what you report is so crucial so i try to summarize it here. in a four-year period his wealth grows by $99 billion. his wealth grows by $99 billion. but the income that is taxable was only 4.2 billion and on that he paid $973 million in taxes.
with that comment, and then he also, since then, has made remarks such as he s selling all his worldly possessions and also he said things like hey i think our stock price is too high resulting in it dropping 12% on friday. this , on the heels of the stock popping because so much promise at tesla, especially with their earnings coming out at $5.99 billion in the last quarter, not bad, and this car right here is what people have their eye on not just in the industry but consumers, as we re sitting at home and automakers are struggling to find auto sales, tesla can t make these, and the pre-orders are through the roof. this is the tesla model y. why there s so much hype to this electric car is that it s more affordable and its got that crossover suv style that they all want right now and 0-60 in 3.5 seconds. you re looking inside the car,