The top 400 richest families in America pay about 2% in taxes — while everyone else pays 20 to 26%. Jerremy Alexander Newsome and Dave Conley dig into what surprised them most in their research. Dave says the tax code was quite literally built for people not to pay taxes, funneling mortgage and college-savings deductions mostly to the top 20%. He found 30 million American children living in poverty — more than any country in Europe, Korea, or Japan. Economist Assar Lindbeck's line comes up: rent control is the fastest way to destroy a city besides bombing it.

Timestamps:

• (00:16) The tax code confession – Dave calls it a welfare program in disguise
• (07:33) Housing booms, then and now – what the 1920s got right
• (13:14) Zoning's ugly origin story – the real reason those laws exist
• (15:53) An economist's brutal verdict – rent control compared to bombing a city

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