A compilation of articles and videos regarding income inequality in the United States

[GRtak]

These Real Estate and Oil Tycoons Avoided Paying Taxes for Years

Donald Trump and other ultrarich Americans have earned billions, but they’ve also managed to repeatedly avoid paying any federal income tax by claiming huge losses on their businesses.

www.propublica.org

 

[GRtak]

A Lavish Tax Dodge for the Ultrawealthy Is Easily Multiplied (Published 2021)

Once aimed at small businesses, a 1990s-era tax break has become a popular way for Silicon Valley founders and investors to avoid taxes on their investment profits.

www.nytimes.com

 

[GRtak]

A huge study of 20 years of global wealth demolishes the myth of 'trickle-down' and shows the rich are taking most of the gains for themselves

The bottom 50% of the world holds 2% of wealth, while the top 10% holds 76%, according to a huge data set that leading economists compiled for years.

www.businessinsider.com

 

[CraigB]

To which most of us would say, "Duh!"

 

[GRtak]

To which most of us would say, "Duh!"

Not everyone sees the obvious.

 

[NecroJoe]

Realistic Concept Art For New Luxury Condos Features Homeless Man Getting Arrested

LOS ANGELES—Displaying incredible accuracy in its rendering of the high-end property, the realistic concept art for a new luxury condominium complex in the Echo Park neighborhood of Los Angeles features a homeless man getting arrested, observers reported Friday. “Oh wow, yeah, would you look at...

www.theonion.com

 

[jack_christie]

This is really the key point: If the US had even vaguely normal levels of inequality (not communism!), the poorest Americans would be 40% better off and have some of the highest living standards among poor people anywhere. While the highest earners would still be loaded!

View: https://twitter.com/jburnmurdoch/status/1570835880428081152

 

[GRtak]

Column: Republican ‘solutions’ will make inflation worse ⋆ Michigan Advance

My wife and I recently had the tremendous misfortune of needing to buy a car. Car prices, you may know, reached an all-time high between this year and last. There are now rumblings of a gradual decline, but rising interest rates will likely offset any savings. So with our beloved but rickety...

michiganadvance.com

 

[GRtak]

MacKenzie Scott is shaking up philanthropy's traditions. Is that a good thing?

Donations often come with rigorous applications and reporting requirements. Billionaire MacKenzie Scott, who divorced Jeff Bezos in 2019 and vowed to give away most of her fortune, does it her way.

www.npr.org

 

[GRtak]

Billionaire casino king: 'Nobody likes being around poor people'

Steve Wynn has just tossed a verbal grenade into the class wars.

www.cnbc.com

 

[GRtak]

Private opulence, public squalor: How the U.S. helps the rich and hurts the poor​

https://www.npr.org/sections/health-shots/2023/03/21/1164275807/poverty-by-america-matthew-desmond-inequality

 

[jack_christie]

Credit Suisse whistleblowers say Swiss bank has been helping wealthy Americans dodge U.S. taxes for years​

Credit Suisse whistleblowers say Swiss bank has been helping wealthy Americans dodge U.S. taxes for years

The bank notoriously pleaded guilty in 2014 to criminal charges for "knowingly and willfully" helping U.S. clients hide offshore assets and income from the IRS.

www.cnbc.com

View: https://www.youtube.com/watch?v=ZQLMTGCKdOQ

Possibly related:

Paris banks raided in €100 billion tax fraud probe​

Published 03/28/2023Published March 28, 2023last updated 03/28/2023last updated March 28, 2023
French and German prosecutors and investigators conducted searches in and around the French capital. Financial prosecutors say the raid focused on dividend stripping.

Paris banks raided in €100 billion tax fraud probe – DW – 03/28/2023

French and German prosecutors and investigators conducted searches in and around the French capital. Financial prosecutors say the raid focused on dividend stripping.

www.dw.com

 

[GRtak]

Wouldn't it make more sense to put this money into a trust fund for the kid instead of trying to get them into a school that they clearly can't get in by earning a spot?

Parents Are Paying Consultants $750,000 to Get Kids Into Ivy League Schools

Acceptance rates at the nation’s top universities are plunging, and parents are doing whatever it takes to get their kids in.

www.bloomberg.com

 

[GRtak]

This is not limited to the USA.

Swimming pools and lavish gardens of the rich are driving water shortages, study says​

https://www.npr.org/2023/04/12/1169531195/swimming-pools-rich-water-shortages


With 8 million people in the world, we will soon be going to war over water.

 

[GRtak]

An interesting thread.


View: https://twitter.com/4TaxFairness/status/1658102072334766080