Secret IRS trove illustrates how billionaires avoid taxes

ABC News’ Phil Lipof speaks with ProPublica investigative reporter Robert Faturechi about how the Trump-era tax overhaul helped billionaires dramatically cut their federal income taxes.

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33 thoughts on “Secret IRS trove illustrates how billionaires avoid taxes

  1. So, people need to pay taxes and if don't, they will be arrested by IRS; but billionaires don't really need to pay taxes, only if they want to pay (which they never do). This is some fucking bullshit and proves that filthy rich people still have power. 🙁 I wish if universe kills us, we don't deserve to die cause we humans are animals who don't care about society or nature. only cares about power and money and some people will do anything for money; burning forests, starting wars, genocide, murders, corruption, pedophilia. We are gross animals. There are a few good people who care about the world. But they are corrupted by media who brainwash theirs brain. So they can be theirs puppets. When will we learn that money and power aren't everything?

  2. "Why do people rob banks?" Because that's where the money years. … "So why doesn't the IRS audit rich people?" Because that's who funds the people who write the laws.

  3. Well,I been on the phone with IRS and ne child support,my child tax credit was taken away from Milo to give ne child support enforcement people,it's not right for them to take away a child's money to pay another debt in this case ,I'm not happy that Milos money got stolen away from him, if you had filed an 2020 tax form for the child tax credit,good luck of getting it,the IRS stoled my son's money to pay a debt that wasn't even his to pay

  4. The IRS goes after the easy money, us wage slaves who's taxes are deducted before we get payed. If we try to get a little back by claiming deductions, the IRS audits us realizing we cannot afford to hire the big gun CPA's/attorneys. Trump is a perfect example. He openly admits to tax evasion but the IRS won't touch him because they know that he will keep them in court for decades. The Fry man at McDonalds pays more money annually than Trump. The same thing is true for people working under the table. I have never heard anyone get caught. People paid in cash have no records. It would be a hassle for the IRS to figure out their income.

  5. Just as I read an article about how 61% of Americans paid zero taxes. So deduct the top 1% and what are you left with? More than half of US citizens didn’t “pay their fair share”.
    What a joke these “news” activists are.

  6. As an CPA I can verify that this news report is just propaganda! Billionaires don’t avoid taxes. They pay the majority of the taxes in this country. Anyone can hire an accountant and take advantage of tax breaks that are available to them. Unfortunately ignorant people like this investigative reporter and liberal democrats speak like this just to shift blame for their own ignorance. Contact an accountant and they can help you understand your taxes and what breaks are available to you. Trump is a businessman he understands the bottom line. Dems, grow up learn how to do your taxes and stop whining that someone else knows how to do their taxes better than you do.

  7. How about a situational update on the functionality & condition of the U.S. Government's ability to combat the domestic terrorism its been cultivating against its own people since the country's inception. Report on that. Report on how we move forward with these nut jobs you've raised into a frenzy.

  8. 83% of the benefits of the 2017 tax bill went to the top 1%. This was a tax cut for the wealthy, adding $2 trillion to the deficit and screwing working people. Let's face it: This country has socialism for the wealthy and calls it "capitalism," and one party in particular wants to keep it that way.

  9. We have a far more progressive tax structure in the United States than in Europe. In Europe, the middle and lower classes pay much more, while the upper class pays about the same as in America.

  10. Don't pay more than LOSER Trump's $750 tax.

    "I don't even know. Does anyone know the answer to that stuff?" – Trump.

    Add a note that you will NOT pay more than LOSER Trump does.

    Where are the loopholes for the majority?

  11. Yeah Donald Trump when the pandemic hit Trump had gave all the f**** rich people some money and he say f*** the American people low class f*** Trump they need a tax all of the m********** rich

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