Billionaires have the best accountants who know all the loopholes. Their wealth isn’t in income, but in assets. They often move to states (like Texas) that don’t have a state income tax, and move their money to offshore tax havens. They live off tax free loans. Legislation to tax billionaires goes nowhere because wealthy coal barons like Democratic Senator Joe Manchin don’t believe in taxing the “job creators,” a notion that has been debunked again and again. More

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