The article proves the narrow claim that rich people pay taxes, but conflates it with the broad claim that they pay their fair share. The author claims "Income is taxed. Capital gains are taxed ... for everyone." Yet given "buy-borrow-die" loopholes (the explicit purpose of which is to avoid capital gains taxation), it's clear that a meaningful subset of the ultra-wealthy do not.
No where in this article do I say the rich pay their fair share.
The buy-borrow-die loophole should be closed by creating a strict inheritance tax. Doing so would increase fairness, but won't change anything for 99.9 percent of Americans or raise that much revenue.
The article proves the narrow claim that rich people pay taxes, but conflates it with the broad claim that they pay their fair share. The author claims "Income is taxed. Capital gains are taxed ... for everyone." Yet given "buy-borrow-die" loopholes (the explicit purpose of which is to avoid capital gains taxation), it's clear that a meaningful subset of the ultra-wealthy do not.
No where in this article do I say the rich pay their fair share.
The buy-borrow-die loophole should be closed by creating a strict inheritance tax. Doing so would increase fairness, but won't change anything for 99.9 percent of Americans or raise that much revenue.