When the private tax returns of billionaires were leaked to a left-wing group, liberals and conservatives reacted very differently. Liberals fell for the political trick and immediately said that the tax code was unfair and the rich should get a tax hike. Conservatives saw through the conspiracy and wanted answers on how the Deep State at the IRS could, once again, have so much unchecked power for political purposes. When it comes to outrage, liberals always protest louder, so conservatives have to respond better.
The billionaires actual tax returns were “provided” to the leftist activist group called ProPublica. It says it has “a vast trove of Internal Revenue Service data on the tax returns of thousands of the nation’s wealthiest people, covering more than 15 years.” It alleges that:
No, You Are Not Paying A Higher Relevant Tax Rate Than Billionaires zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.
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AMY GOODMAN: A major leak of IRS tax filing has revealed new details about how U.S. billionaires pay little in income tax compared to their massive wealth â sometimes even nothing. ProPublica obtained the private tax records of some of the nation’s wealthiest billionaires, and the findings are stunning. Between 2014 and 2018, the wealthiest 25 Americans saw their collective wealth jump by $400 billion, but they paid just over $13 billion in federal income taxes â that’s just 3.4% of their wealth increase.
Warren Buffett paid a true tax rate of just 0.1% on income taxes during that period, while seeing his wealth grow by $24 billion. Jeff Bezos, the world’s wealthiest man, paid no federal income taxes in 2007 or 2011. Elon Musk, the second-richest person in the world, paid no federal income taxes in 2018. George Soros paid no federal income tax for three years in a row. And former New York City Mayor Micha