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OPINION: Billionaire tax leaks: The system needs a radical overhaul

Jun 10, 2021

The news that the 25 richest Americans paid an effective tax rate of just 3.4% was shocking to many. But no one who is rich was surprised.

In this opinion piece, Djaffar Shalchi writes that “the news that the 25 richest Americans paid an effective tax rate of just 3.4%, exposed by investigative journalists at ProPublica, was summed up by New York Times as “shocking”.

But here’s the real shock: no one who is rich was surprised by the story. All multi-millionaires knew that’s how the system works, because all multi-millionaires profit from it. I know, because I’m one of them.

Read full text via Reuters.

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