NO MATTER WHAT THE MOVIES TELL YOU, THE "CRAZIEST" RICH ASIANS ARE STILL THE JAPANESE

     

cameraminhtan.vn has obtained a vast cache of IRS information showing how billionaires lượt thích Jeff Bezos, Elon Musk và Warren Buffett pay little in income tax compared lớn their massive wealth — sometimes, even nothing.


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You May Be Paying a Higher Tax Rate Than a Billionaire

America’s billionaires avail themselves of tax-avoidance strategies beyond the reach of ordinary people. Their wealth derives from the skyrocketing value of their assets, like stock và property. Those gains are not defined by U.S. Laws as taxable income unless và until the billionaires sell.

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To capture the financial reality of the richest Americans, cameraminhtan.vn undertook an analysis that has never been done before. We compared how much in taxes the 25 richest Americans paid each year to how much Forbes estimated their wealth grew in that same time period.

We’re going to gọi this their true tax rate.


The Secret IRS Files

This is an ongoing investigation. Sign up khổng lồ be notified when the next story publishes.

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The results are stark. According to lớn Forbes, those 25 people saw their worth rise a collective $401 billion from năm trước to 2018. They paid a total of $13.6 billion in federal income taxes in those five years, the IRS data shows. That’s a staggering sum, but it amounts lớn a true tax rate of only 3.4%.

It’s a completely different picture for middle-class Americans, for example, wage earners in their early 40s who have amassed a typical amount of wealth for people their age. From 2014 to 2018, such households saw their net worth expand by about $65,000 after taxes on average, mostly due to lớn the rise in value of their homes. But because the vast bulk of their earnings were salaries, their tax bills were almost as much, nearly $62,000, over that five-year period.

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Read our full methodology. Credit: Agnes Chang/cameraminhtan.vn

No one among the 25 wealthiest avoided as much tax as Buffett, the grandfatherly centibillionaire. That’s perhaps surprising, given his public stance as an advocate of higher taxes for the rich. According to Forbes, his riches rose $24.3 billion between năm trước and 2018. Over those years, the data shows, Buffett reported paying $23.7 million in taxes.