Mastodawn

Robert Reich Aug 27, 2024

America’s ultra-rich are sitting on $8.5 trillion in untaxed capital gains.

Even on money that is taxed, the rich are making out like bandits.

In 41 states, the top 1% pay lower tax rates than everyone else.

When I say the system is rigged for the wealthy, this is what I mean.

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David

@rbreich “untaxed capital gains”. You made some similar comment yesterday, referring to “unrealized capital gains”. Where does this $8.5B number come from - and what is the definition of “ultra-rich”? I’m sympathetic to tax reform and higher rates, but this statement is too vague and simplistic to make any real sense.