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Facts About How the richest people on Earth avoid paying taxes - CNN Revealed


<h1 style="clear:both" id="content-section-0">The 9-Second Trick For Tax the rich! - Oxfam - Politics of Poverty<br><img width="460" src="https://img.ifunny.co/images/3ffd31ce1b4121e764b0f0d4c48d836572d0c82be67d3e723748ab87efbb8175_1.jpg"><br></h1>
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<p class="p__0">When they do, they make money and they get taxed. The federal government considers nearly every dollar workers earn to be "income," and employers take taxes straight out of their incomes. The Bezoses of the world have no need to be paid an income. Bezos' Amazon earnings have actually long been set at the middle-class level of around $80,000 a year.</p>
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<p class="p__1">Steve Jobs took $1 in income when he went back to Apple in the 1990s. Facebook's Zuckerberg, Oracle's Larry Ellison and Google's Larry Page have actually all done the exact same. Yet this is not the self-effacing gesture it seems: Earnings are taxed at a high rate. This Piece Covers It Well leading 25 most affluent Americans reported $158 million in earnings in 2018, according to the internal revenue service information.</p>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://img.buzzfeed.com/buzzfeed-static/static/2021-09/14/18/asset/9ec10e9b778e/sub-buzz-405-1631643407-1.jpg?downsize=700%3A%2A&amp;output-quality=auto&amp;output-format=auto" alt="MOST YEARS OVER THE PAST 20, BILLIONAIRE TRUMP PAID LESS IN TAXES THAN NURSES &amp; TEACHERS - Americans For Tax Fairness"><span style="display:none" itemprop="caption">How Billionaires Like Jeff Bezos, Elon Musk and Warren Buffett Effectively Avoid Income Tax</span>
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<h1 style="clear:both" id="content-section-1">Excitement About Richest 25 Americans have a "true tax rate" of almost nothing<br></h1>
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<p class="p__2">1% of what they noted on their tax types as their overall reported earnings. The rest mostly came from dividends and the sale of stock, bonds or other investments, which are taxed at lower rates than earnings. The ultrawealthy normally hold fast to shares in the companies they have actually founded. Buffett, for example, has actually notoriously held onto his stock in Berkshire Hathaway, the corporation that owns Geico, Duracell and stakes in American Express and Coca-Cola.</p>
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<p class="p__3">From 2015 through 2018, he reported yearly income varying from $11. 6 million to $25 million. That may look like a lot, however Buffett ranks as roughly the world's sixth-richest individual he deserves $110 billion as of Forbes' quote in Might 2021. At least 14,000 U.S. taxpayers in 2015 reported greater earnings than him, according to IRS data.</p>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://smartcdn.prod.postmedia.digital/nationalpost/wp-content/uploads/2019/10/tax1111.jpg?quality=90&amp;strip=all&amp;w=288" alt="Trump Tax Cuts Helped Billionaires Pay Less Taxes Than The Working Class In 2018"><span style="display:none" itemprop="caption">How Billionaires Pay Less In Taxes Than You - YouTube</span>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://s.abcnews.com/images/GMA/210609_gma_moran1_0714_hpMain_16x9_992.jpg" alt="Two billionaires explain why they shouldn't pay more taxes - Los Angeles Times"><span style="display:none" itemprop="caption">Do the Rich Pay Their Fair Share of Taxes? - Progressivity &amp; Redistribution</span>
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<h2 style="clear:both" id="content-section-2">Fascination About The bias built into tax laws that disadvantages income from labor<br></h2>
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<p class="p__4">Berkshire does not pay a dividend, the sum (a piece of the profits, in theory) that many business pay each quarter to those who own their stock. Buffett has actually constantly argued that it is better to utilize that money to find financial investments for Berkshire that will further increase the worth of shares held by him and other financiers.</p>
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