A bombshell report raises questions about the tax bills of the wealthy.
By Andrew Ross Sorkin, Jason Karaian, Sarah Kessler, Michael J. de la Merced, Lauren Hirsch and Ephrat Livni
Tax and the .001 percent
The fallout from ProPublica’s bombshell report about billionaires’ tax bills is just beginning. The news outlet obtained tax records for the nation’s 25 richest people, which show that they paid $13.6 billion in federal income taxes between 2014 and 2018, or about 16 percent of their reported income over that period — and a very, very small sliver of their wealth.
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