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Yet this is not the self-effacing gesture it appears to be: Wages are taxed at a high rate. The top 25 wealthiest Americans reported $158 million in wages in 2018, according to the IRS data. That’s a mere 1.1% of what they listed on their tax forms as their total reported income. The rest mostly came from dividends and the sale of stock, bonds or other investments, which are taxed at lower rates than wages.
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The Presidency of the School of Education – 2021-07-13
Now You Know Akron podcast:Life after COVID, a roundtable discussion
In that year, Bezos, who filed his taxes jointly with his then-wife, MacKenzie Scott, reported a paltry (for him) $46 million in income, largely from interest and dividend payments on outside investments. He was able to offset every penny he earned with losses from side investments and various deductions, like interest expenses on debts and the vague catchall category of “other expenses.”
Certainly, there are illegal tax evaders among them, but it turns out billionaires don’t have to evade taxes exotically and illicitly — they can avoid them routinely and legally.
One apparent exception: Buffett, who broke ranks with his billionaire cohort to call for higher taxes on the rich. In a famous New York Times op-ed in 2011, Buffett wrote, “My friends and I have been coddled long enough by a billionaire-friendly Congress. It’s time for our government to get serious about shared sacrifice.”
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8. MyPoints MyPoints offers opportunities to answer surveys for money. Additionally, the company offers bonus point opportunities for shopping at particular retailers. As you build up points, you can redeem them for cash or gift cards.
"I'm delighted that now we've proved the success of that book in England, the Money and Pensions Service has agreed to team up to provide this much-needed resource for Scotland – adding a rightful sense of officialdom to the whole project."
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