In the midst of the international debate on tax increases for multinational companies, the analysis of the independent organization for investigative journalism “ProPublica” confirmed on Tuesday that several American billionaires managed to completely evade income tax for several years.

According to the analysis of that organization based in New York, which claims on its website that it wants to “condemn the abuse of power and betray public trust”, the head of “Amazon” Jeff Bezos did not pay federal taxes in 2007 and 2011, and Elon Musk, the head “Tesla” avoided taxes in 2018.

Bezos and Mask are among the three richest people in the world.

CEO Michael Bloomberg, businessman Carl Aikan and philanthropist George Soros also managed not to pay federal taxes for several years, the article reads.

To come up with these findings, the organization claims to have received thousands of tax returns from wealthy Americans over more than fifteen years.

“In short: they destroy the foundations of the American tax myth: that everyone pays their fair share and that the richest pay the most,” the authors of the text write.

ProPublica claims, for example, that Bezos requested and managed to obtain a tax credit of $ 4,000 for his children in 2011, the year in which he stated losses in excess of annual income in the tax return.

However, in April this year, Bezos supported the tax increase that US President Joseph Biden wants in order to finance his plan for investments in obsolete infrastructure in the USA.

“The richest people in the United States, who made huge profits during the pandemic, did not pay their fair share,” said Ron Wyden, chairman of the US Congressional Senate Finance Committee, on Tuesday, and announced a “proposal” in that regard.
Responding to the article “ProPublica”, a spokesman for Soros stated the losses when investing in 2016-2018. years to justify non-payment of federal tax. Bloomberg and Aikan said that they “paid the taxes they had to pay”, and the others mentioned did not answer AFP’s questions.

“ProPublica” calculated its “true tax rate”, which every billionaire paid. The result of that calculation is that, for example, Warren Buffett, while his wealth grew explosively thanks to the growth of stock prices between 2014 and 2018, gave only 0.10 percent of his total profit for taxes.

By Editor

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