How a Billionaire Team Owner Pays a Lower Tax Rate Than LeBron James — and the Stadium Workers, Too
Channel: ProPublica
Date: 08/07/2021

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.     

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. Read the series: https://propub.li/2T9G9Uc

You can watch the first video on Buy, Borrow, Die here: https://www.youtube.com/watch?v=8pBPZMUcsh0

You can watch the second video on Roth IRAs here: https://www.youtube.com/watch?v=vW_pYFJkGBE&list=PL8_lN8JGpWGxXDy0-ynDPBIeO9K0aHx9S&index=9