New "Income Defense Industry" To Help Super Wealthy Pay Even Fewer Taxes

An “income defense industry” consisting of high-priced lawyers and anti-tax activists exploits and defends a dizzying array of tax maneuvers for the very richest Americans, which are not available to taxpayers of more modest means. In an article published in the New York Times, Noam Scheiber and Patricia Cohen highlight how the super wealthy are able to quietly shape tax policy facilitating them in shielding billions of income. Super wealthy exploited an esoteric tax loophole to save millions of taxes The article highlights that the super wealthy have used their influence to steadily whittle away at the government’s ability to tax…