Tag: billionaires

The rich can live lavishly by employing a technique known as “Buy, Borrow, Die,” in which they buy or build assets, borrow against them and then avoid estate and gift taxes when they die.

Tax reforms must address willful blindness about the menace of concentrated wealth.

A new analysis, “Taxing Extreme Wealth,” by the Fight Inequality Alliance, Institute for Policy Studies, Oxfam, and Patriotic Millionaires found a shocking...

IRS records reveal that 18 billionaires and some 250 other ultrawealthy people received aid intended to help middle-class Americans.

Not only did the wealth of U.S. billionaires grow, but so did their numbers: in March of last year, there were 614 Americans with 10-figure bank accounts. Today there are 745.

America doesn’t need their charity. We need them to pay their fair share in taxes.

We don’t need billionaires out to “conquer space.” We need to conquer inequality.

A perverse loophole allows owners of profitable teams — and their heirs — to lower their tax bills by claiming huge paper losses.

Owners like Steve Ballmer can take the kinds of deductions on team assets — everything from media deals to player contracts — that industrialists take on factory equipment. That helps them pay lower tax rates than players and even stadium workers.

Millionaires, Mega Millionaires and even a few Billionaires run our corporations, our media and of course our politics.