> The real issue is that the super rich create these personal "foundations" that act as never-taxed income holes, and then use them as personal and political tools.
Opinions may differ, but one major point is that our tax system is a joke.
If we can put a movie about flying humans to the moon on Netflix, why can't we implement a tax system that isn't a Byzantine train wreck?
> ... why can't we implement a tax system that isn't a Byzantine train wreck?
Because the people with power (money) like it this way. They aren't interested in what is fair for everyone, they are only interested in what they can get away with.
The rich can afford to hire a team of lawyers and accountants to navigate the tax system, and pay almost nothing. But they have to keep the fiction up that they are paying tax by having their "on the books" tax rate be non-zero.
Lacking? The incentives are in geared towards a high rate with lots of deductions, certainly on the business side. If I'm running a business I don't want a low rate or low regulation - I want a high rate with loopholes narrowly tailored to whatever I'm doing and a high regulatory burden.
Politicians want exactly the same thing.
It's not exactly the same with non-business tax rates but it's not that far off either - see the deduction for SALT.
Opinions may differ, but one major point is that our tax system is a joke.
If we can put a movie about flying humans to the moon on Netflix, why can't we implement a tax system that isn't a Byzantine train wreck?