ProPublica Report: IRS Tax Data Shows the Ultra-Rich Pay Little to No Taxes Despite Growing Their Wealth

The Daily Dive

It’s something we always knew was happening, ultra-rich Americans paying little to no taxes even as their wealth increases. ProPublica has obtained IRS data on the top 25 richest Americans and how they maneuver the tax system by claiming very little taxable income, borrowing money, or reporting investment losses all to offset paying taxes. Between 2014 and 2018, these top 25 saw their worth rise a collective $401 billion, but paid a true tax rate of just 3.4%. Jeff Ernsthausen, senior data reporter at ProPublica, joins us for how billionaires like Jeff Bezos, Elon Musk, Warren Buffet and others sometimes get away with paying nothing in taxes.

Next, plant-based meats were already having a moment before the pandemic showing up in your grocery stores, fast food chains, and restaurants, but as meat and pork prices were going up do to the pandemic, these alternative meats were surging in options and dropping in price. In 2020, we saw 112 new plant-based meat, egg, and dairy brands hit the shelves and people aren’t just trying them once, we are seeing repeat customers. Laura Riley, business of food reporter at The Washington Post, joins us for how plant-based proteins are taking a bite out of Big Meat.

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