Trump’s Estate Tax Giveaway To Rich Triggered 50% Drop In The IRS Revenue: Report

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      eridani
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      https://www.huffpost.com/entry/estate-tax-rich-irs-revenue-plunge_n_6199bb06e4b07fe2010cb159

      In just one example, Nike founder Phil Knight used various strategies to transfer billions of dollars to his family tax-free, Bloomberg revealed last month in an investigation.

      Democrats had discussed trimming back some of the massive Trump tax giveaways to the wealthy in President Joe Biden’s Build Back Better package. But those didn’t make the cut in the final bill passed by the House on Friday.

      Bloomberg said the $10 billion estate tax collected now by the federal government is an “imperceptible” portion of the total $4 trillion revenue collected by the federal government.

      The estate tax is viewed as one of the most efficient and direct ways to shave off government revenue from billionaire dynasties.

      Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction

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