Here’s something I meant to share a while ago. The way in which those who are very rich live on borrowed money, and pass their wealth on to their heirs tax-free, is clearly explained.
Someone else makes the typical unsubstantiated conservative argument that taxing the ultra-rich and regulating markets limits economic growth. As if a few individuals being incredibly rich, in and of itself, is somehow of benefit to the public at large.
No mention is made of taxing dividend income, as distinct from unrealized capital gains. Here’s information on that subject.
For further consideration, there is this installment of Freakonomics Radio. Jessica Riedl (formerly Brian Riedl) says the richest people pay the most in taxes. In terms of absolute dollars that’s true. However, they do that based on paying a much lower tax rate than most Americans. Which is a confirmation of just how rich they really are.