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Elon Musk Paid $0 in Federal Income Tax in 2018
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| Contributor | RP |
| Last Edited | RP Jun 08, 2021 02:58pm |
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| Category | Report |
| Author | Matt Novak |
| News Date | Tuesday, June 8, 2021 11:00:00 AM UTC0:0 |
| Description | Elon Musk, the second richest person in the world, paid precisely $0 in federal income tax in 2018, according to an explosive new report from ProPublica. And Musk isn’t the only one.
In 2015, he paid $68,000 in federal income tax. In 2017, it was $65,000, and in 2018 he paid no federal income tax. Between 2014 and 2018, he had a true tax rate of 3.27%.
[Bezos’] tax avoidance is even more striking if you examine 2006 to 2018, a period for which ProPublica has complete data. Bezos’ wealth increased by $127 billion, according to Forbes, but he reported a total of $6.5 billion in income. The $1.4 billion he paid in personal federal taxes is a massive number — yet it amounts to a 1.1% true tax rate on the rise in his fortune. |
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