We discuss recent https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax (reporting) by ProPublica that (re)reveals how the wealthy avoid paying their fair share of taxes. We say (re)reveals because this should come as a surprise to no one given a preponderance of similar evidence. All the same, the reporting helps shine an even brighter light.

While the wealthiest Americans nominally pay a "high" dollar value in taxes, their true tax rate is fractions of what it is paid by most Americans. Using tax loopholes and tax avoidance strategies essentially only available for the wealthiest, they abscond from paying their fair share of taxes, taxes which would benefit everyone in society through public service spending.

Meanwhile, Congressional Republicans flash their true anti-majoritarian colors by obstinately blocking any efforts to rectify this oligarchical inequality, such as refusing Biden's efforts to raise the top marginal tax rate from 37% to 39.6% (which wouldn't even really affect the wealthy given the strategies they use to avoid paying taxes as shown in the ProPublica report) and refusing to adequately fund the IRS.

Thanks for joining us.