For the Wealthiest, a Private Tax System That Saves Them Billions

Noam Scheiber and Patricia Cohen, For the Wealthiest, a Private Tax System That Saves Them Billions. The New York Times, 29 December 2015. Part of a series entitled Buying Power: “Articles in this series examine America’s growing concentration of wealth and its consequences for government and politics…. The very richest are able to quietly shape tax policy that will allow them to shield billions in income…. With inequality at its highest levels in nearly a century and public debate rising over whether the government should respond to it through higher taxes on the wealthy, the very richest Americans have financed a sophisticated and astonishingly effective apparatus for shielding their fortunes. Some call it the “income defense industry,” consisting of a high-priced phalanx of lawyers, estate planners, lobbyists and anti-tax activists who exploit and defend a dizzying array of tax maneuvers, virtually none of them available to taxpayers of more modest means.”

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The $9 Billion Witness: Meet JPMorgan Chase’s Worst Nightmare, Alayne Fleischmann

Matt Taibbi, The $9 Billion Witness: Meet JPMorgan Chase’s Worst Nightmare. Rolling Stone, 6 Novmeber 2014. “Meet the woman JPMorgan Chase paid one of the largest fines in American history to keep from talking. Chase whistle-blower Alayne Fleischmann risked it all.”

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The Great American Bubble Machine: Goldman Sachs

Matt Taibbi, The Great American Bubble Machine. Rolling Stone, From the Archives Issue 1082, 9 July 2009. (Dated 5 April 2010 online.) “From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression–and they’re about to do it again…. The first thing you need to know about Goldman Sachs is that it’s everywhere. The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. In fact, the history of the recent financial crisis, which doubles as a history of the rapid decline and fall of the suddenly swindled dry American empire, reads like a Who’s Who of Goldman Sachs graduates.”

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The Justice [Abe Fortas]…and the Stock Manipulator [Louis Wolfson]

William Lambert, The Justice…and the Stock Manipulator. Life, 9 May 1969. “In an investigation over a period of several months, LIFE found evidence of a personal association between [US Supreme Court Justice Abe Fortas] and [stock manipulator Louis] Wolfson that took place after Fortas was seated as a member of the nation’s highest tribunal.”

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