Secret IRS trove illustrates how billionaires avoid taxes

ABC News’ Phil Lipof speaks with ProPublica investigative reporter Robert Faturechi about how the Trump-era tax overhaul helped billionaires dramatically cut their federal income taxes.

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[hitman]

But if anyone of us did that we'd be in prison

[WTH]

"Why do people rob banks?" Because that's where the money years. ... "So why doesn't the IRS audit rich people?" Because that's who funds the people who write the laws.

[GM-cjqf]

14 thumbs down so far. The Millionaires and billionaires must be scared.

[makeracistsafraidagain]

Avoiding paying your fair share is Un Patriotic. Even if you're legal on paper.

[yoshiandrocket]

Why does Robert look like Hank from the show BARRY on HBO?

[larrypahl]

reaganGoldwater assassinated the middle class

[Erich]

The "loophole" has been there since 1994. Nice try.

[derbezacesanchez]

With great wealth comes great responsibility. To whom or what? To your employees? To the country that enabled your wealth building? To the consumers that bought your goods and or services?

[stevenroshni]

I have to cut my salary because my company is more profitable than ever!

[LKH]

Yea I already know it’s called learn the tax code then start businesses and invest in the stock market and apartment buildings

[shadwChser]

While I'm still here wait for my tax refund.

[Abd]

Oh wow, that's ground Why are you pretending that 20yr old news is some big revelation 😅

[DJ--ALLDAY]

🤣😂Hold Up🛑🖐 Don't hate the Player, Hate the Game. start reading the I.R.C. and learn how you can "PASS GO"

[googlebanmetoomuch]

Looks as you would expect. The definition of an alien lizard person!

[BrandonClark-StocksPassports]

Billionaires use tax shelters overseas

Regular people use child and college tax credits, mortgage interest credits, and tax refunds to essentially pay little tax.

That is why we have a deficit.
NOBODY WANTS TO PAY
NOBODY IS PAYING 🤣

[sciencethesuperego.]

Why does this guy look like NoHo Hank from Barry?

[Gayhhhhhhhhhi]

Is this dude an alien from the future?

[daheikkinen]

We have a far more progressive tax structure in the United States than in Europe. In Europe, the middle and lower classes pay much more, while the upper class pays about the same as in America.