Collect $5 billion. Do not pay taxes.

Today, Explained

Vox

Daily News, Politics, News

4.4 • 9.5K Ratings

🗓️ 3 August 2021

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Roth IRA was invented by Congress to incentivize middle-class retirement savings. ProPublica’s Justin Elliott explains how venture capitalist Peter Thiel ended up with $5 billion in his. Transcript at vox.com/todayexplained. Support Today, Explained by making a financial contribution to Vox! bit.ly/givepodcasts. Learn more about your ad choices. Visit podcastchoices.com/adchoices

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0:14.7	The credits for UK's biggest free streaming service.
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0:23.7	For free.
0:24.5	Oh bugging.
0:25.5	Compare it channel 4.com-sus-verified.
0:40.2	This summer, the investigative news out in ProPublica published a series of bombshell reports on the
0:46.1	state of the American tax system.
0:48.1	Are you paying more in taxes than the world's richest man Jeff Bezos and Elon Musk's
0:53.1	surprise surprise?
0:55.1	Reporters there got a hold of a trove of tax records for thousands of the wealthiest
1:00.9	and ultra-wealthiest people in the country.
1:03.9	Elon Musk, Jeff Bezos, Warren Buffett, the big takeaway, the wealthiest Americans, proportionally
1:10.3	speaking, are often paying far, far less in taxes than your average American worker.
1:17.2	Liberal donor George Soros, former New York mayor Michael Bloomberg, billionaire investor,
1:23.3	Carl Icon, also paid nothing in federal income tax in certain years over the past couple
	...

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