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Entertainment Bachelor Nation, others reacts to Chris Harrison's shocking announcement

23:55  08 june  2021
23:55  08 june  2021 Source:   wonderwall.com

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On Tuesday, June 8, Chris Harrison confirmed he was officially exiting The Bachelor franchise after 19 years of hosting the long-running ABC dating series . "I'm so grateful to Bachelor Nation for all of the memories we've made together. While my two-decade journey is wrapping up, the friendships I've made will last a lifetime." In addition to Chris ' s announcement , Warner Horizon and ABC Entertainment—the companies behind the franchise—released a joint statement that read in part, "We are thankful for his many contributions over the past 20 years and wish him all the best on his new

Chris Harrison confirmed his permanent exit as ‘The Bachelor ’ host on Tuesday, June 8, and Bachelor Nation is showing support — details. “ Chris Harrison is stepping aside as host of The Bachelor franchise,” ABC Entertainment told Us in a statement at the time. “We are thankful for his many contributions over the past 20 years and wish him all the best on his new journey.” Us confirmed the details of Deadline’ s story, which stated that Harrison reached an eight-figure settlement with ABC on Monday, following his temporary leave of absence after his controversial comments about season

Most people know the ultra-rich pay much less in taxes as a percentage of their wealth than the average working stiff, but a new report from ProPublica suggests the disparity may be greater than imagined.

Jeff Bezos wearing a blue shirt: Jeff Bezos paid no federal income taxes in 2007 and again in 2011, according to a report from ProPublica. Getty Images © Provided by CNET Jeff Bezos paid no federal income taxes in 2007 and again in 2011, according to a report from ProPublica. Getty Images

Jeff Bezos , Mark Zuckerberg and Elon Musk , among other moguls, built their wealth into the high billions while paying almost nothing in federal taxes by structuring their pay to avoid income, the investigative site reported after it received a stash of IRS documents.

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Bachelor Nation announced today on June 8 that longtime host Chris Harrison will not be returning to the franchise. " Chris Harrison is stepping aside as host of The Bachelor franchise. We are thankful for his many contributions over the past 20 years and wish him all the best on his new journey," Warner Horizon and ABC Entertainment wrote in a press statement. The news comes the day after Bachelorette Katie Thurston's season premiere, and almost four months after Harrison ' s apology for defending Bachelor Matt James' season 25 winner Rachael Kirkconnell following the resurfacing of

' Bachelor ' host chris harrison speaks out after stepping aside from show: 'I Made a mistake'. Harrison appeared on Extra in an interview with former " Bachelorette " Rachel Lindsay who was the show' s first Black female lead. In the interview, he defended Kirkconnell, arguing that times were different merely three years ago. I also apologize to my friend Rachel Lindsay for not listening to her better on a topic she has a first-hand understanding of, and humbly thank the members of Bachelor Nation who have reached out to me to hold me accountable," Harrison concluded.

None of the activity was illegal, ProPublica said. The tax records, however, reveal how the super-rich minimize taxes, sometimes by taking out loans using their stock holdings as collateral. Wage earners, by comparison, live primarily off their paychecks, which are taxed as income.

The 25 richest people in the US amassed wealth of $1.1 trillion as of 2018, according to ProPublica's analysis of the tax records. It would have taken the wealth of 14.3 million average US wage earners to equal that amount, the publication said. Those wage earners would have paid an estimated $143 billion in taxes, 75 times as much as the $1.9 billion the 25 wealthiest Americans paid $1.9 billion in 2018.

Jeff Bezos in a blue shirt: Jeff Bezos paid no federal income taxes in 2007 and again in 2011, according to a report from ProPublica. © Getty Images

Jeff Bezos paid no federal income taxes in 2007 and again in 2011, according to a report from ProPublica.

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Chris Harrison announced on Saturday, February 13, that he is temporarily stepping down as the host of The Bachelor following his controversial interview with Rachel Lindsay earlier this week. The 49-year-old ABC personality released a statement via Instagram announcing his decision. Taylor Nolan, who appeared on season 21 of The Bachelor , started an online petition to get the host removed from his position. More than 30,000 people signed it. To see how Bachelor Nation reacted to Chris Harrison ’ s temporary step down, keep scrolling.

(CNN) Chris Harrison is not getting a rose from ABC. The show' s producer and distributor Warner Horizon and ABC Entertainment confirmed to CNN Tuesday in a joint statement that the longtime " Bachelor " franchise host is exiting the show. Harrison announced in February that he was "stepping aside" from the show following controversial remarks he made while being interviewed by Rachel Lindsay, a current Extra host and former star of 2017' s "The Bachelorette ."

The analysis exposes highly personal and secret information on Bezos, Zuckerberg and Musk, as well as other well-known members of the richest ranks in the US, including George Soros and Warren Buffett. The tech CEOs didn't immediately respond to CNET's requests for comment, and didn't provide comment to ProPublica (though Musk reportedly responded to an initial inquiry with a sole "?").

Here's what we learned about major tech heads from the report:

Jeff Bezos

The man who's currently the world's second richest person reportedly paid no federal income taxes for two separate years, 2007 and 2011. In 2007, Bezos's wealth grew by $3.8 billion according to numbers from Forbes, but he (legally) reported $46 million in income. He offset that income with losses on investments and tax deductions, resulting in zero dollars of taxable income, ProPublica said.

Between 2006 and 2018, Bezos's wealth reportedly grew by $127 billion, but his total reported income over that 13-year period was $6.5 billion, with a cumulative tax bill of $1.4 billion. That works out to a tax rate of about 21% on his reported income, or 1.1% on his total wealth.

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Watch: Chris Harrison Teases Matt James' " Bachelor " Contestants. Chris Harrison has found himself in a very dramatic situation. Last week, The Bachelor contestant Rachael Kirkconnell—who is competing for the affection of the first-ever Black Bachelor Matt James—came under fire after a Reddit user shared "To my Bachelor Nation family—I will always own a mistake when I make one, so I am here to extend a sincere apology," he wrote on Instagram. "I have this incredible platform to speak about love, and yesterday I took a stance on topics about which I should have been better informed."

Chris Harrison was ousted from his job as host of the popular The Bachelor franchise on Tuesday, after serving in the role for 19 years. In February, Harrison came under fire for defending a contestant who was pictured at a 2018 antebellum-themed fraternity formal. He announced shortly afterwards he would be 'stepping aside' from his role. Harrison was reportedly offered an eight-figure payout that requires him to 'keep his mouth shut' following months of tense negotiations. Former contestants are now hosting the current season of The Bachelorette and the franchise announced a rotating list of

According to ProPublica, average wage earners Bezos' age paid more in federal income taxes than the amount their average wealth grew during the same 13 years.

Amazon didn't respond to a request for comment.

Elon Musk

The world's third-richest man as of Tuesday morning reportedly paid no federal income tax in 2018, according to ProPublica. The news outlet also reported the Tesla CEO paid $68,000 in federal income tax in 2015 and $65,000 in 2017.

Elon Musk wearing a suit and tie: Elon Musk was among the 25 richest Americans who paid little taxes in proportion to the growth of their wealth. Getty Images © Provided by CNET Elon Musk was among the 25 richest Americans who paid little taxes in proportion to the growth of their wealth. Getty Images

A graph that accompanies the story shows that Musk's wealth grew $13.9 billion in the five years from 2014 to 2018. He reported $1.52 billion in income and paid $455 million in taxes over the same period.

Musk has used Tesla shares as collateral for personal borrowing, a strategy employed by many wealthy people.

Musk doesn't accept direct messages through his Twitter account. Tesla didn't immediately respond to a request for comment.

How wealth goes untaxed

The federal government only taxes "income," which includes wages, dividends from stocks, interest from bonds and proceeds from the sale of financial instruments. The result is that when a billionaire holds stocks that skyrocket in value, that wealth won't be taxed in its own right.

Like Musk did, wealthy people can still extract value from company shares without selling them by using them as collateral for loans. Funds from loans aren't taxed because they have to be paid back.

Ultrarich investor Warren Buffet has said he believes tax law must be reformed, even though he makes use of current laws to keep his tax payments low relative to his wealth. Buffet has repeatedly called the current taxation system part of a "class war," and declared, "my class has won."

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