An analysis by ProPublica based on I.R.S. documents showed billionaires like Jeff Bezos and Elon Musk benefited from tax code loopholes and a focus on taxing income over wealth.
By Alan Rappeport
New York Times
WASHINGTON — The 25 richest Americans, including Jeff Bezos, Michael Bloomberg and Elon Musk, paid relatively little — and sometimes nothing — in federal income taxes between 2014 and 2018, according to an analysis from the news organization ProPublica that was based on a trove of Internal Revenue Service tax data.
The analysis showed that the nation’s richest executives paid just a fraction of their wealth in taxes — $13.6 billion in federal income taxes during a time period when their collective net worth increased by $401 billion, according to a tabulation by Forbes.
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