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80% of the actual article, https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax
by ihumanable 5y ago
80% of the actual article, https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax https://www.propublica.org/article/the-secret-irs-files-trov..., is discussing this exact thing.
This isn't a case where there's a journalistic sleight-of-hand, trying to conflate and confuse wealth and income. one could argue that the entire thesis of the article is that because we tax income and not wealth, those with wealth avoid ever realizing income, relying on loans instead of income.
It's an article about the end result of taxing income instead of wealth, there's literally a massive interactive scrolling graphic that discusses it half-way through.
- rexreed 5y agoWell yeah that's obvious. I could summarize this whole article by saying that wealthy people don't pay much income tax because they don't report much taxable income. Since we don't tax wealth separately from income, they don't pay much tax. There, I summarized all their intense reporting in an obvious way. What does it tell us? Nothing that we don't already know. All they are arguing about is taxing wealth separately from taxing income. That will never happen for many reasons.