- ProPublica’s analysis of the 25 wealthiest Americans (secretly obtained) tax returns uncovered an average true tax rate (income taxes paid relative to net worth) of only 3.4% since 2014.
- The wealthiest Americans avoid the top US income tax rate (37%) by minimizing their income.
- Instead of taking large salaries or selling shares, the wealthiest borrow money using their massive shareholdings as collateral; interest payments on the loans are much lower than taxes.
- Article also details the history of asset-appreciation being excluded from income taxes.
