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Never-Before-Seen IRS Records Prove Billionaires Get Away With Paying Nothing in Federal Income Taxes, Benefit from Rigged Tax System

FOR IMMEDIATE RELEASE:
JUNE 8, 2021

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Never-Before-Seen IRS Records Prove Billionaires Get Away With Paying Nothing in Federal Income Taxes, Benefit from Rigged Tax System

WASHINGTON, D.C. — This morning, ProPublica reported that never-before-seen IRS records show how billionaires like Warren Buffett, Jeff Bezos and Elon Musk get away with paying nothing in federal income taxes on their multi-billion-dollar fortunes, and massively benefit from a rigged tax system that values wealth over work. 

Tax March Executive Director Maura Quint responded to the report:

These IRS records prove what tax justice advocates have been saying forever: The rich pay next to nothing in taxes on billions of dollars in wealth, and they’ve been rigging the rules of the tax code for decades to keep it that way. Billionaires like Musk and Bezos build wealth differently than the rest of us do. It is long past time they paid their fair share, and President Biden’s various proposals to tax the rich will bring us a step closer to a fair tax system that values work over wealth.

“Tax dodgers, like those exposed by these IRS records, cannot drive the tax debate. Rather, hard-working American families and long under-valued workers must be at the forefront of lawmakers’ efforts to build a people-first tax system—and President Biden and Democrats in Congress must keep fighting to deliver exactly that.”

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