A Propublica investigation out today paints a compelling point about the fight to force billionaires to pay more taxes against their obscene wealth. In the investigation, Propublica obtained IRS data dating back several years that appears to show even people like Warren Buffett (who wants the rich to pay more taxes) hasn’t paid much in taxes himself at all.
The same investigation revealed that the richest of the rich saw their wealth grow by more than $401B between 2014 and 2018 alone. Despite the obscene growth in American wealth, many of them paid no more than 0.10% in taxes against their wealth. A highlight of the report has found that at the time and during that period —- people like Jeff Bezos not only obtained tax credits for his children but managed to evade taxes (legally) by offsetting his investment losses.