Jeff Bezos is the richest man in the world, but do you know how much tax he has paid so far this year? This is not an isolated figure for any one year. Jeff Bezos’ net worth in 2021 alone is $ 212.40 billion. But Bezos escapes without paying taxes.
In the United States, where most of the world’s richest people rule, the number of tax evaders is staggering.
The online media ProPublica had earlier published a report on this. U.S. billionaires have not paid taxes on even one percent of their assets over the past fifteen years.
Online shopping giant Amazon has not paid a single dollar in federal taxes in 2007 and 2011. The Republican report is based on leaked documents from the U.S. Department of Homeland Revenue.
How is this possible?
Bezos has been on the list of billionaires since 2007. By 2011, assets had grown to $ 18 billion. He has not paid income tax for these two years.
Legal and economic experts say that billionaires are using tax evasion tactics. This means that there are loopholes in the law to escape without paying a single dollar while following the law.
Probably alleges that in 2011 he made a loss on his investment and did not pay taxes, and that he took $ 4,000 in taxes from his children. ProPublica also has full Bezos tax data for 2006 to 2018
Not only Jeff Bezos, but many of the wealthiest people in the top 25 in the United States are reported to be defrauding the Income Tax Department. The list includes SpaceX owner Elon Musk, investor firm Berkshire Hathaway chairman Warren Buffett, Bloomberg founder Michael Bloomberg, investors George Soros and Carl Ekahan.
In 2018, Elon Musk did not pay any taxes. Warren Buffett’s assets rose to $ 24.3 billion between 2014 and 18, but only $ 23.7 million in total taxes were paid during that period. That’s just 0.1 percent.
Billionaires pay only a small share of their wealth in taxes, compared to the tax share of ordinary workers in the United States. According to the report, the Bezos – Buffett – Musk trio paid just 3.4 percent of what was due in 2014-18. Elon Musk was one of the most wealthy people in the Kovid era.
The incident was discussed in the Senate after the tax evasion came out. Politicians and the rich have come out in support and opposition to the report. Former New York mayor and Bloomberg chief Michael Bloomberg has said he will take legal action against those responsible.
President Joe Biden has previously stated that he will raise taxes on the richest people in the United States. Republican leader Mike Krappo told the IRS that the Republican report was important and that an immediate inquiry should be held into what it said.