The 25 richest people in the United States paid income taxes higher than the population average, and in some cases did not have to pay federal taxes. The group includes names such as Jeff Bezos, Elon Musk, Michael Bloomberg, George Soros and Warren Buffett. This Tuesday (8.Jun.2021) the information was released in a report on the North American portal ProPublica.
The vehicle accessed IRS records on the income tax returns of the country’s wealthiest. The report compares the amount of taxes paid annually by 25 rich people with the estimated growth of their wealth over the same period as measured by Forbes magazine.
According to the release, the amount of 25 fortunes increased from 2014 to 2018 by US $ 401 billion. During this period, US $ 13.6 billion was paid in federal income tax. Value equals 3.4%.
Compared to the average North American household data, income was 000 70,000 per year, with a federal tax rate of 14%. 21 The highest income tax rate in 2021 for households with an income above 628,300 was 37%.
According to the survey, businessman and investor Warren Buffett paid the lowest taxes on his assets. His wealth increased.34.33 billion between 2014 and 2018, and he. Paid 23.7 million in taxes. This amount is equal to the tax rate of 0.1%, or less than 10 cents for every $ 100 he adds to his wealth.
The report says the country's billionaires are using a tax evasion strategy. "His wealth is derived from the excess value of his assets, such as stocks and property. These revenues are not defined by US law as taxable income, at least until they are sold by millionaires." Says an excerpt.
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