How America's Billionaires Legally Avoid Paying Taxes (Brian Ross Investigates)

Brian Ross investigates how America's billionaires are strategically and legally avoiding paying taxes. The super-rich are gaming the American tax system by taking advantage of hidden breaks and other deductions. ProPublica's Paul Kiel exposes the facts, reveals documents, and gets the message out into the public eye.

Brian Ross' Guests/Hosts:
Rhonda Schwartz - Law&Crime Network
Aidan McLaughlin - Editor In Chief, Mediaite
Paul Kiel - Reporter, ProPublica

Watch Law&Crime Network NOW on YouTubeTV, For Live Trial Analysis From Law&Crime Anchors/Reporters!

#Billionaires #Taxes #BrianRossInvestigates

[jaquim]

well... the truth is, the whole system is a scam.

[xthaking]

It seems like they set this up to be a report against rich ppl paying taxes but im looking at is a guide on how to avoid paying as much taxes as well being a small self employed person

[heiral]

This is infuriating. The masses should band together to fix this obvious issue.

[TheLukemcdaniel]

Hire broke artist to produce a piece of art for you. Pay them $1, 000 for it.
Pay art broker/appraiser friend to declare this a masterpiece worth $5M.
Donate to Museum/Art Gallery(likely ran by said appraiser friend).
Claim $5M in donation off taxes.

Hire broke artist to produce piece of art, pay them $1, 000.
Pay art broker/appraiser friend to declare this a masterpiece worth $5M.
Sell at auction for $5M, and ship in large container, that just happens to contain other illicit goods to buyer worth $4, 999, 000.

[jadedspades]

Incredible reporting once again by Propublica. I really wish our reps would deal with the tax issue.

[Flangobeast]

Shorting this up it’s called capital gains lol

[josephoneil]

Who creates our tax laws? The Ways and Means Committee. Who chaired it for several years? Charles Rangel that’s who.

[lydiaalfonsi]

They got to change the law! Hahaha but they own the lawmakers who make their laws!

[kylereeves]

What a crock. I agree that there may be entrepreneurs with money hoarding issues but the last place that money needs to go is the IRS. We need to lower taxes across the board and stop the idiots in DC from their spending spree. America doesn't have a revenue problem, she has a spending problem.

[auntijen]

I bet Bernie smuggled
those tax docs out...
In his mittens!

[nativestrong]

Think about the wealthy tax breaks the next time you look at your increasing property taxes and ponder how much longer your kids will get to keep their bedrooms.

[notthatronjohnson]

A person gets to be super rich by being super greedy. They're not going to change ever.

[vasily]

The common misconception when "bad" numbers come out for mega companies like Netflix, Amazon, Apple... is that the numbers mean that overall the company is losing money. In actuality hey are still making a lot of money. They are just not making as much as they wanted or had promised their greedy investors they would make.

[Raxian]

Don't need 14 minutes. Easy. Don't cash out, take a personal 2-5% loan on your own money, (50, 000) avoid capital gains and or liquidation, rinse and repeat every year.

[Susieq]

Ask these billionaires that fly around in space ships about selling missiles to our enemies. They found all the luxury bunkers too. Here in the USA.

[JUSTKOZ]

Bruh who tf even pays taxes in the first place

[danielkaner]

I have to admid that this is a very clever guide to save money.

[FREDNAJAH]

he wore out his shoe leather for a report that I could get with a few clicks on the keyboard and google. hopefully his shoos were cheap ones.

[MJ]

What would happen if the rich would pay more taxes? Would it actually change something, or would it just be more pocket money for the government to waste?

[MrMooCow]

Let me get this straight... Bezos earns $100 billion and pays $1 billion in taxes. A single guy literally pays $1 billion in taxes.
Meanwhile, I pay 30% tax out of my 50k to 100k annual salary.
And we're supposed to be angry that Bezos ONLY PAYS 1 BILLION DOLLARS?

If equality is what people want, then every single person regardless of income should be paying the exact same amount.
The tax system is a system of discrimination based on income.
This would be the same as a poor guy paying $1 for an apple, but charging a rich guy $100 for that same apple just because he is wealthy.