ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.
It is kinda weird that real estate gets taxed just for existing and being held, but stocks, which supposedly represent a fraction of a mass of real wealth too, don’t get taxed while just being held.
It is kinda weird that real estate gets taxed just for existing and being held, but stocks, which supposedly represent a fraction of a mass of real wealth too, don’t get taxed while just being held.