364
The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax
(www.propublica.org)
this post was submitted on 20 Jun 2024
364 points (98.4% liked)
A Boring Dystopia
9887 readers
1462 users here now
Pictures, Videos, Articles showing just how boring it is to live in a dystopic society, or with signs of a dystopic society.
Rules (Subject to Change)
--Be a Decent Human Being
--Posting news articles: include the source name and exact title from article in your post title
--If a picture is just a screenshot of an article, link the article
--If a video's content isn't clear from title, write a short summary so people know what it's about.
--Posts must have something to do with the topic
--Zero tolerance for Racism/Sexism/Ableism/etc.
--No NSFW content
--Abide by the rules of lemmy.world
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Title is a little bit clickbaity. The reason a lot of them aren't paying much in taxes is bcz their asset values grew. But if you arent selling it, there's no tax to pay. The headline makes it seem like they just aren't paying any taxes at all.
While there's criticism to go around when it comes to the tax laws around billionaires, this isn't really the issue.
Cashing dividens or taking personal loans ahould come at a higher cost for people worth billions. Me cashing a $45 dividens check is much different than Buffet cashing a $250m check.