IRS Data Trove Shows How The Super Wealthy Pay Such Little Taxes: Report


internal revenue service irs worthy ministries(Worthy News) – The super wealthy — including billionaires Jeff Bezos, Elon Musk and Michael Bloomberg — have skirted large amounts of taxes for years, according to a large trove of federal tax data obtained by ProPublica.

The 25 richest Americans’s wealth increased to a total of $401 billion while paying $13.6 billion in taxes between 2014 and 2018, according to the “secret” trove of data obtained by ProPublica. While the billionaires paid a high amount in taxes over that period, it totaled just 3.4% of their total wealth.

ProPublica calculated the individuals’ “true tax rate” — or percentage of wealth taxed — using Forbes’ net worth estimations.  [ Source: Daily Caller (Read More…) ]

16
people are currently praying.

💡 Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.

📢 Social media algorithms push content further when there’s more engagement — so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌

Discuss this article in our forums

Follow us on X

Latest Worthy News

IDF Chief of Staff Leads High-Level Washington Meetings Amid Rising Iran Tensions
U.S. ‘Armada’ Arrives, but Air Defense Buildup May Delay Strike on Iran
Senate Passes Funding Deal, Sends To House For Final Approval
Nationwide Redistricting Efforts Could Impact Control Of Congress
Police: ‘Bandits Torch Police Station, Church In Nigeria’s Niger State’
Christian Mother Assaulted in Pakistan as Suspect Freed Within Minutes, Lawyer Says
Congo Rebels Confirm Over 200 Dead In Landslide At Coltan Mine Site; Christians Concerned
Israel Launches Heaviest Gaza Airstrikes In Weeks After Ceasefire Breach
Russia and Ukraine Pause Energy Strikes Amid Freezing Blackouts (Worthy News Radio)
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News