ProPublica published an analysis, based on the tax returns of thousands of wealthy Americans, including Jeff Bezos, Warren Buffett, Bill Gates, Rupert Murdoch, Elon Musk and Mark Zuckerberg. Here’s ProPublica’s explanation of why it decided to publish the new story, despite privacy concerns.) ProPublica previously published articles about the I.R.S.’s lax enforcement of taxes on the wealthy.
The top 25 richest people did not pay ANY taxes in years. Think about that. Billionaires Jeff Bezos, Warren Buffet, Mike Bloomberg, George Soros, Bill Gates, Elon Musk, and more. Even millionaires like Trump did not pay anything either. The richest 1% of Americans own 35% of the nation’s wealth. The bottom 80% own just 11% of the nation’s wealth.
During the 1950s and 1960s, the very richest Americans paid more than 50 percent of their income in federal taxes. Now, that percentage has fallen below 25 percent. See more information at Americans for Tax Fairness.