How does US tax law allow billionaires not to pay? Read this and try to understand

One of the great frustrations about US tax law for a lot of Americans is that everyday wage earners can often pay a higher tax rate than billionaire real estate investors.



Donald Trump wearing a suit and tie: WASHINGTON, DC - SEPTEMBER 27: U.S. President Donald Trump speaks during a news conference in the Briefing Room of the White House on September 27, 2020 in Washington, DC. Trump is preparing for the first presidential debate with former Vice President and Democratic Nominee Joe Biden on September 29th in Cleveland, Ohio. (Photo by Joshua Roberts/Getty Images)


© Joshua Roberts/Getty Images North America/Getty Images
WASHINGTON, DC – SEPTEMBER 27: U.S. President Donald Trump speaks during a news conference in the Briefing Room of the White House on September 27, 2020 in Washington, DC. Trump is preparing for the first presidential debate with former Vice President and Democratic Nominee Joe Biden on September 29th in Cleveland, Ohio. (Photo by Joshua Roberts/Getty Images)

The publishing of data about more than a decade of President Donald Trump’s tax returns in The New York Times confirms he often paid little or no federal income tax and suggests running for president and being elected did nothing to awaken a patriotic sense of tax-paying duty in Trump.

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