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Timothy Patrick's avatar

Fascinating timing on this article, Sharon. Now that we have the "world's smartest billionaire" slashing government spending "with a chainsaw," it's the perfect moment to reconsider our strange admiration for billionaire tax avoidance. After all, if the government is now slimmed down to just the programs and infrastructure that keeps our country functioning, there couldn’t possibly be a charitable organization more worthy of their donations — but unlike a charity, paying their taxes is now, according to their own logic, more like paying a bill of what they actually owe. Right?

For too long, we've celebrated these tax schemes as brilliant financial wizardry instead of calling them what they are - civic freeloading. Every dollar these billionaires don't pay is either coming directly from our wallets or being added to the national debt they pretend to care about. If there's truly no more government waste to cut, what excuse do they have left?

The most absurd part is how many of these same individuals brand themselves as generous philanthropists while giving away pennies compared to what they hoard. They control foundations that distribute tiny fractions of their wealth while their fortunes continue to balloon through the very tax avoidance schemes you've described.

Maybe it's time we changed how we talk about this. What if we started publicly shaming billionaires who use these tactics rather than admiring their "savvy"? What if financial media stopped reporting on "tax efficiency" as a positive and started reporting on "civic contribution" instead? What if we celebrated the wealthy who willingly pay their fair share and created social consequences for those who don't?

We have more power than we think. Public pressure has changed corporate behavior on environmental and social issues - why not taxation? Perhaps the most effective bill we can send billionaires is a social one.

Imagine a website called "SendEmTheBill.com" or something (help me with some ideas please) that tracks these ultra-wealthy individuals in a simple grid: their current net worth, what they actually paid in taxes, what they would have paid if taxed at the same rate as someone earning $100,000, and the difference between the two. Finally, a "Send Them The Bill" button that publicly challenges them to contribute this difference to pay down our national debt or fund critical public services. Those who refuse get prominently labeled as "Tax Dodgers" or "Civic Thieves" on the site's leaderboard. Or how about we revive that “Welfare Queen” slur and put it to actual good use? Social media campaigns could amplify these labels until they become part of these billionaires' public identities. Nothing motivates the image-conscious wealthy quite like public accountability. Hit em where it hurts: their legacy.

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Jen Hoffman's avatar

I would also encourage people to really understand that we have a lot of data now to show exactly what the rich and corporations do with the income they don’t pay in taxes. They use it to further enrich themselves. They continue to increase their wealth while wage growth for THE VAST MAJORITY of us remains unchanged. Our labor funds their increased wealth. It is high time for some class solidarity in this country. HIGH TIME. We need to understand that taxing the rich benefits 99% of us. We need to campaign finance reform. It. Is. Time.

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