Tax lingo is just a legal way to scam tax by the richest 3%.
It should be a simple fixed % for everyone, with no tax specialists to help the richest 3% not pay tax.
The likes of Trump paying no income tax or corporate tax shows how corrupt it has become.
The current brand of capitalism is cronyism where corporates bribe politicians to do their bidding with policies that ensure the richest 3% can scam tax and acquire competitors to kill competition.
Capitalism is about competition, not communist monopolies. Democracy is about choice, not having some monopoly controlling everything. Most people agree Big Tech should be broken up to ensure more competition. yet it is unlikely to happen as the politicians lobbyists are on the take.
Monopolies just become evil corporations that make the law as they go.
Maybe even Big Pharma could be broken up, or at the very least prevent mergers to ensure the market sets the prices, not the suppliers.
Imagine all healthcare was privatized- and then they became one big monopoly - they could hold everyone to ransom with the price.
America allows competitors to acquire each other so they can create monopolies that have maximum profit and no competition. The owners then pay little to no tax, so that means everyone else has to foot the bill.
Facebook acquired Instagram which allowed Facebook to kill their main competitor, and then everyone complains about Facebook's power. A good government would have blocked competitor acquisitions to ensure competition, and it would have meant Zuckerberg would only have half the wealth of what he does now.
Same with Google acquiring YouTube etc.
That is why these people have become so rich. The government has failed the people they represent by allowing communist monopolies.
Every single article from nearly all media sources says the same thing.The richest pay little to no tax...It is not just a problem in the US, but the US seems the worst for it.
The richest 1% are getting richer, and as that means less and less money is available to be taxed. They would never have got that rich if there was competition and proper laws that prevented them from acquiring competitors to kill capitalism.
Also, no monopolies would ensure proper capitalism where one person could not hemorrhage a whole industry, or even or price-fixing oligopolies.
There would still be billionaires, but not as rich as they are now without having gangster monopolies that allow them to have politicians in their pockets.
American politicians are all on the corporate payrolls, so the people are so distraught they have turned to Trump. A billionaire freeloader whose companies intentionally make a loss so he can steal tax from the government instead of paying it
https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax