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If Jeff and Elon Don’t Pay Tax, Then The System Is Broken
And how do we fix it
Jeff Bezos isn't a popular guy. There are concerns about the way employees at Amazon are treated. And a report released today by ProPublica — a nonprofit newsroom that investigates abuses of power won’t help his popularity.
They revealed that in 2007 and again in 2011, Bezos paid 0 taxes.
None.
Not a dollar.
The richest man in the world paid fewer taxes than his employee slaving away in a warehouse trying to get packages out on time for minimum wage.
To make matters even worse, due to his losses in 2011, Bezos actually received a tax credit of $4000 for his children. Great to see the government helping out those desperately in need.
According to the investigation, joining him in the Billionaires That Pay No Taxes club are Elon Musk, George Soros, and Michael Bloomberg. And, of course, we have a former President who refused to release his tax returns.
It seems the more you earn, the fewer taxes you pay.
Sad.
The true tax rate
The wealthy can employ expensive accountants and tax lawyers who specialize in tax minimization. Their ethos is to pay as…
