Billionaire left-wing financier George Soros gave millions of dollars to left-wing political campaigns, and billions to his own liberal foundation, in years when he paid no federal income tax. On Tuesday, ProPublica, citing Internal Revenue Service documents, revealed that several of America’s richest people – Amazon founder Jeff Bezos, Tesla CEO Elon Musk, and Soros, among others – paid no federal income tax in certain years, as they claimed to have made net losses that offset gains. Soros’s tax avoidance is among the most striking, since he funds a vast array of left-wing groups, which generally share the belief that the rich should be taxed more to redistribute their wealth to the poor, and to fund government programs. Moreover, in 2017, Soros gave a staggering $18 billion to his Open Society Foundations, which funds left-wing causes. The New York Times described it as “one of the largest transfers of wealth ever made by a private donor to a single foundation.” It may also have functioned as a tax shelter, allowing Soros to deduct money from his taxable income.
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