The Secret IRS Files

[schuylaar]

this is part of a new series by Pro Publica on the uber wealthy and just how it is they pay no taxes.

Why We Are Publishing the Tax Secrets of the .001%

We are disclosing the tax details of the richest Americans because we believe the public interest in an informed debate outweighs privacy considerations.

www.propublica.org

Why We Are Publishing the Tax Secrets of the .001%

 

[Boatguy]

Unfortunately the posted link does nothing of the sort, and no follow up article for 4 months so far.

 

[schuylaar]

Unfortunately the posted link does nothing of the sort, and no follow up article for 4 months so far.

everything has a beginning.

ProPublica is a nonprofit newsroom that investigates abuses of power. The Secret IRS Files is an ongoing reporting project. Sign up to be notified when the next installment publishes.

 

[Apalchen]

I don’t blame any of those rich guys for taking tax loop holes. Hell I wish I knew how, but even accountants for us common folk probably don’t know how to do it.

 

[BudmanTX]

are these the same people doing the Panama Papers?

 

[schuylaar]

it's refreshing to not find a paywall.

 

[Boatguy]

I don’t blame any of those rich guys for taking tax loop holes. Hell I wish I knew how, but even accountants for us common folk probably don’t know how to do it.

Lol... Even if i knew how, not getting taxed wouldnt make me rich.

You said you dont blame them, but would your taxes be as high if they paid the same percentage? We are talking about trillions lost due to loopholes for the weathy

 

[mooray]

I don’t blame any of those rich guys for taking tax loop holes. Hell I wish I knew how, but even accountants for us common folk probably don’t know how to do it.

A regular employee doesn't really have much of a mechanism to avoid taxes. Helps if you're a contractor, yet again if you're a contractor being paid by an overseas business.

 

[hanimmal]

I don’t blame any of those rich guys for taking tax loop holes. Hell I wish I knew how, but even accountants for us common folk probably don’t know how to do it.

That is the point though isn't it. Unless you are mega wealthy you don't have the ability to just move all your income (that is earned for them by the American public, using the American infrastructure) offshore to avoid taxes and then just take out tax free loans from banks that they can easily pay off with the interest they earn on their assets. Then by paying off politicians they make sure that they can hand all that money over when they die to their kin tax free.

It is not clever, it is shitty and requires a lot more money than most people have. They are the ones getting all the government handouts and crying about anything that might force them to pay taxes.

 

[schuylaar]

A regular employee doesn't really have much of a mechanism to avoid taxes. Helps if you're a contractor, yet again if you're a contractor being paid by an overseas business.

a W2 has to pay up every year; Wealthy don't receive W2 and are allowed to 'carry-over' losses/gains ad infinitum or death whichever comes first.

 

[schuylaar]

Unfortunately the posted link does nothing of the sort, and no follow up article for 4 months so far.

go here under 'other entries'.

The Secret IRS Files

A massive trove of tax information obtained by ProPublica, covering thousands of America’s wealthiest individuals, reveals what’s inside the billionaires’ bag of tricks for minimizing their personal tax bills — sometimes to nothing.

www.propublica.org

 

[Unclebaldrick]

Unfortunately the posted link does nothing of the sort, and no follow up article for 4 months so far.

There are articles. She just posted a link that explained why they are publishing them.

 

[UncleBuck]

I don’t blame any of those rich guys