IRS records reveal how the wealthiest avoid income tax
Summary:<p>1. Capital Gain taxes are delayed until you actually sell the stock.<p>2. Corporate taxes are being reduced because companies are moving profits to foreign jurisdictions.<p>3. Estate taxes & income taxes are being avoided by the creation of charitable foundations.<p>The 2nd and 3rd points are very valid, and I wish the author had spent more time on them.  Unfortunately instead, the author spends much more time on point 1, conflating wealth with income, and avoiding the obvious argument that capital gains are <i>eventually</i> taxed - the rich are not escaping that.<p>...unless point 3 (foundation) occurs.  And that should be the main story.<p>Squabbling over a wealth tax is not useful.  The real issue is that the super rich create these personal "foundations" that act as never-taxed income holes, and then use them as personal and political tools.<p>In total, there's nothing very revealing about this article.  It's everything we've already known.  IMO, we need to curb foreign tax havens, and severely limit tax exemptions for charitable donations.<p>A more interesting question is how did ProPublica get a copy of Jeff Bezos' tax returns.  Seems like a leak at the IRS?