America’s billionaires minimize their tax burdens, making the rest of us pick up their tab.
This tax season, America’s billionaires are toasting you, the ordinary taxpayer.
That’s because you’re the one picking up the tab for our nation’s ailing infrastructure of roads, bridges, and rail transport. You’re also footing the bill for military forces, disaster relief, veterans’ health services, and national park protection.
The share of taxes paid by the 1 percent is declining, even as wealth flows upward to them at dizzying pace.
Maybe you’re not shocked to hear that the wealthy shift their tax obligations onto ordinary Americans. But perhaps you don’t know all their tricks. Here are five tax secrets billionaires deploy to keep you paying more than your fair share.