Why Are Billionaires so Hard to Tax?

Описание: Everyone thinks billionaires should be taxed more—well, except billionaires. In fact, there have been a whole bunch of bills introduced at the federal level to tax billionaire wealth. None have passed, and even if they did, explains Michael Mechanic, a longtime Mother Jones senior editor and author of Jackpot: How the Super-Rich Really Live and How Their Wealth Harms Us All, the Supreme Court would deem any wealth tax unconstitutional.

The Roberts court has even signaled that taxing unrealized income—paper gains on unsold investments, which represents the lion’s share of income for America’s richest families—is constitutionally off limits.

So how does one tax a billionaire? There may indeed be a way, as Mechanic explains in this short video. For all the details, be sure to read his story “How to Tax a Billionaire,” available for free (!!) at MotherJones.com.