Our Tax System Should Make You Furious

As you may know, April 15 was Tax Day here in the U.S. If you’re a regular American, you make money through wages, and it’s probably not your favorite day of the year. If you make a median income or above, you’re handing a lot of that money back to the government.

But that is a price we pay for living in a society, right?

Well, not for everyone. You may remember that in 2021, ProPublica published an investigation built on a bunch of leaked tax documents revealing what the richest Americans really pay — or don’t. Warren Buffett had a true tax rate of 0.1 percent; Jeff Bezos had 0.98 percent; Michael Bloomberg had 1.3 percent.

We know what they paid. So what is it they’re doing? How does it work? And what can we actually do about it?

Read the full article in The New York Times.