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Some of the wealthiest Americans use a strategy called Buy, Borrow, Die to dramatically reduce their tax bills while their fortunes continue to grow. This video is part of ProPublica’s series, “The Secret IRS Files” which reveals, using a trove of never-before-seen records, how the wealthiest avoid income tax.
Pro sports teams pretty much always increase in value. But our tax laws allow the owners to claim that their teams’ assets lose value, lowering their tax bills through amortization. The government misses out on billions in revenue. Here’s how.
A retirement account designed for the middle class is being exploited as a giant tax shelter — legally — by some of the wealthiest Americans. Billionaire tech mogul Peter Thiel, a Paypal co-founder, has grown his Roth IRA to more than $5 billion.
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A frustrated Black Lives Matter activist. A die-hard Confederate loyalist. A sheriff who won’t back down. In a small Town, a battle for racial justice confronts a bloody past and an uncertain future. In a place where protests are restricted and violence feels imminent, many cry: “We don’t want to die no more.” This documentary is a The News & Observer/ProPublica production. The News & Observer is a member of the ProPublica Local Reporting Network.
The home’s administrator assured her that her 82-year-old father was safe, she said. Then she found out the coronavirus was tearing through the facility — and her dad had caught it.
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