ProPublica: Big Billionaires Pay Little To No Income Tax

The video discusses leaked tax records of the wealthiest Americans, revealing that some, like Jeff Bezos and Elon Musk, paid minimal federal income taxes despite significant wealth increases. Warren Buffett also paid a small percentage of his wealth in taxes. The IRS and FBI are investigating the source of the leak, not the tax practices. The video explains that the tax code favors investments over wages, allowing the ultra-wealthy to legally minimize taxes. The White House acknowledges the need for tax reform to ensure fair contributions from high-income individuals.

Which organization obtained the leaked tax records of wealthy Americans?

• The New York Times

• ProPublica

• The Washington Post

• CNN

What is the main focus of the IRS and FBI investigation mentioned in the video?

• The legality of tax loopholes

• The income of the wealthiest Americans

• The tax practices of billionaires

• The source of the leaked tax files

How do the ultra-wealthy legally minimize their tax payments?

• By paying taxes in other countries

• By donating to charity

• By using tax loopholes

• By hiding their income

According to the video, what is a common misconception about the wealth of billionaires?

• They only invest in stocks

• They earn all their wealth in a single year

• They do not contribute to the economy

• They pay no taxes at all

What does the White House propose to ensure high-income individuals pay more taxes?

• Increasing sales tax

• Reducing corporate taxes

• Implementing a wealth tax

• Reforming the tax code