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How the wealthiest avoid paying income tax

An investigation is underway in the United States into the leaking of the tax details of the country's richest people, which appears to show that many have paid little or no income tax in recent years. ProPublica says it has seen the tax returns of Jeff Bezos, Elon Musk and Warren Buffett among others. The website alleges Amazon's Mr Bezos paid no tax in 2007 and 2011, while Tesla's Mr Musk paid nothing in 2018. ProPublica says they used legal tax avoidance schemes.

Paul Kiel is one of the reporters who worked on the investigation. He told Newsday: 鈥淲hen you see that someone who is now the second richest person in the US, is worth over 100 billion dollars, can pay zero income tax in a year, I think that is a material demonstration of how our system actually works. Once you get to this level of wealth you are able to sidestep the system.鈥

Photo: Amazon founder and CEO Jeff Bezos (Reuters)

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