The Atheist
The Grammar Tyrant
- Joined
- Jul 3, 2006
- Messages
- 36,189
We're all aware that the capitalist system advantages the uber-rich over the hoi polloi, and now Pro Publica has set out exactly how it all works and who pays what.
https://www.propublica.org/article/...short-form-a-quick-guide-to-what-we-uncovered
There's an awful lot to read, but the short form link will give you the gist.
Sadly, the tax gap between rich and poor is technically easy to close, but governments have zero appetite for doing so, mostly because it's those uber-rich who fund politicians' excesses.
I am by no means against people becoming billionaires through running good businesses, but I am aghast that we allow them to pay minimal taxes getting there.
Amazon CEO Bezos was already a multibillionaire in 2007 when he did not pay a penny in federal income tax. He repeated the feat again in 2011, on his way to becoming the world’s richest person. In 2018, Tesla founder Musk, now the second-richest person in the world, also paid no federal income taxes. Representatives for Bezos declined to receive detailed questions; Musk responded to an initial query with “?” then did not reply beyond that.
https://www.propublica.org/article/...short-form-a-quick-guide-to-what-we-uncovered
There's an awful lot to read, but the short form link will give you the gist.
Sadly, the tax gap between rich and poor is technically easy to close, but governments have zero appetite for doing so, mostly because it's those uber-rich who fund politicians' excesses.
I am by no means against people becoming billionaires through running good businesses, but I am aghast that we allow them to pay minimal taxes getting there.