Subject: Re: Biden Budget
Put more politely, we have a tax allocation problem here in the U.S.

The very poor do not pay much in taxes because, well, they can't afford it. Taxing people who have no money is getting blood from a stone.

The ultra rich do not pay much in taxes. As you point out, they find ways of shaping their wealth increases so they can avoid paying taxes. As a result, most of the increase in their wealth gets taxed at miniscule rates, if at all.

So most of the tax burden in this country falls on the group that runs from lower working-class to the fairly (but not ultra) wealthy.

It is unfair that the poorest do not pay their share of taxes, but again. We cannot get blood from a stone. It is even more unfair that the ultra-rich do not pay their share of the taxes. They have the money so there is no blood from stone argument. They just have the resources to avoid taxes.

So the solution would be to design a tax system that makes it harder for the ultra wealthy to avoid taxes on their increase in wealth.

This is a proposal to do that. Make it harder for the ultra wealthy to avoid paying a percentage of increase in wealth similar to the working class.