👉 The DISCLOSE Act Fails
Apr 21, 2022 Aditi Ramaswami

CHEAT SHEET: How To Tax The Rich

In this week’s Cheat Sheet, we explore why the rich aren’t paying their fair share of taxes — and what can be done about it.
CHEAT SHEET: How To Tax The Rich
Activists protesting for higher taxes on the rich. (Joy Asico/AP)

Welcome to the Cheat Sheet, The Lever’s weekly feature exclusively for our supporting subscribers that quickly gets you up to speed on a pressing news matter. Each week, we will show you exactly what you need to know — including vital information corporate media is trying to cheat you out of learning.

Benjamin Franklin famously said, “Nothing is certain except death and taxes.” The founding father would have been wise to add a caveat: For the ultrawealthy, taxes are far from a certainty. And with the masses having recently endured the rigmarole of filing their taxes by Monday’s deadline — which included contending with bureaucratic backlogs that could delay refunds — there have been renewed calls to “tax the rich.” This week, we’re tackling the unfairness of our tax system: who is and isn’t paying up, how legal loopholes are leading to tax giveaways, and why more isn’t being done to hold accountable those who can and should be paying the most.

Read all about it in this week’s Cheat Sheet, exclusively for supporting subscribers.

Takeaways Include:

  • The tax police are coming for you — if you are poor.
  • Manchin selectively “targets different people” with his tax policies.
  • The case for ending a giant tax giveaway for private equity barons.

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