The Difference Between Your Taxes and Warren Buffet’s
Brian Lehrer: A Daily Politics Podcast
WNYC Studios
4.4 • 678 Ratings
🗓️ 14 June 2021
⏱️ 24 minutes
🧾️ Download transcript
Summary
Transcript
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| 0:00.0 | I'm Brian Lehrer. |
| 0:06.0 | This is my daily politics podcast from WNYC Studios. |
| 0:10.3 | It's Monday, June 14th. |
| 0:14.9 | If you've been listening to the station over the last couple of days, you know that many people today are acknowledging the 50th anniversary |
| 0:22.1 | of the publication of the Pentagon Papers, which lifted the veil on U.S. government secrets |
| 0:28.0 | about the Vietnam War and helped lead to the resignation of Richard Nixon, right? |
| 0:33.4 | There are multiple segments on the station yesterday and today about that history. |
| 0:37.4 | But we've got a fresh one for you. |
| 0:40.1 | Not a new set of Pentagon papers. |
| 0:42.0 | It's not about the military. |
| 0:43.6 | Instead, it's an article called The Secret IRS Files. |
| 0:47.4 | Trove of never-before-seen records reveal how the wealthiest avoid income taxes. |
| 0:53.1 | Now, maybe you've heard a little about this already. |
| 0:55.2 | Three ProPublica reporters analyzed over 15 years of tax returns from the richest Americans, |
| 1:02.0 | like Warren Buffett, Bill Gates, Mark Zuckerberg, Elon Musk, and many more. |
| 1:06.8 | But in addition to just income and taxes, these records showed investments, audits, and debts. |
| 1:14.1 | What did they find out? |
| 1:15.3 | Well, the obtained record showed that American business moguls who have managed to exponentially |
| 1:20.6 | grow their wealth throughout the years pay little and even in some cases, zero income taxes. |
| 1:29.4 | Now, that may sound like something you already knew or at least suspected. |
| 1:33.8 | But one interesting thing about the report is it alleges that the ultra-wealthy are able to |
| 1:39.1 | avoid paying taxes most years legally and without even any need for offshore accounts or secret holdings. |
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