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Wealthiest 1% of Americans Account for One-Third of Unpaid Taxes to IRS

HeadlineMar 30, 2021

A new report finds the wealthiest Americans are hiding 20% of their earnings from the IRS. The National Bureau of Economic Research report also found the wealthiest 1% of U.S. residents account for about one-third of all unpaid U.S. taxes. Last week, Vermont independent Senator Bernie Sanders unveiled legislation that would restore the U.S. corporate tax rate to 35%, levy new taxes on the estates of extremely wealthy people and prohibit companies from shifting profits offshore to avoid U.S. taxes.

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