Campbell soup heiress Charlotte Weber rode off Kentucky Derby racehorses and used those losses to drive down her total tax bill. Elon Musk's $78 million private jet. Jeff Bezos's $500 million mega yacht. All of that can be used to lower their entire taxable income. This is why billionaires buy politicians, to rewrite the rules in their favor at our expense. But it does not have to be this way. We can close these billionaire tax loopholes. (02:05–02:18)
CLAIM
Asserts that luxury items like Musk's jet and Bezos's yacht are used to reduce taxable income.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
