Transcript for Many of America's wealthiest pay little to no income tax
Tonight, the massive irs tax leak has revealed the wealthiest of Americans paying little to no federal income tax. Jeff bezos, Elon Musk, Warren the richest 25 people paying less in income tax than most American workers. And all of it legal. Tonight, the outrage and renewed calls to level the playing field. Here's Terry Moran. Reporter: The numbers revealed in the report from the investigator group pro publica are staggering. In 2007, Amazon founder Jeff bezos made $3.8 billion but bezos, now the richest man in the world, paid nothing, not a dime in federal income taxes that year. Same story for Tesla billionaire Elon Musk in 2018. Investment icon Warren Buffett says he supports higher taxes for the rich. The wealthy are definitely undertaxed. Reporter: And he, too, has benefited, between 2014 and 2018, Buffett made $24.3 billion. But over those years, he paid just $23.7 million in federal income taxes. Families have to pay their tax bills regularly but the billionaires have found a way to avoid them. Reporter: Pro publica found nothing illegal. Its investigation focused on federal income taxes, which are largely based on wages and salaries. But these billionaires make most of their money from investments, which have long been given preferential treatment, not from salaries. And that skewers the federal tax code towards the wealthy. Pro publica actually obtained a trove of irs data on thousands of the richest Americans. That's an unprecedented leak of tax information and the irs and FBI are investigating. Jeff bezos and Elon Musk declined to comment, but Warren Buffett declared in a statement, "I continue to believe that the tax code should be changed substantially." David? He has said that before. Terry Moran, thank you.
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