Essential reading: Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

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24. Do you not believe they are leveraging this wealth and avoiding taxes? ...

I'm sure they are borrowing the equity against this wealth and realizing the benefits without paying the taxes on a grander scale.

Let's say you own a home and your mortgage owed is $200,000. Then after covid, with real estate prices rising,
it is now worth $500,000.
You wouldn't leverage off that $300,000 in equity and borrow $200,000 against it?
You can buy a car or more real estate and you wouldn't have to pay a penny in taxes.
And when you sell your house for $500,000 and pay off the $400,000 loan, which portion do you pay the taxes on, the $300,000 from the original $200,000 loan or $100,000 from the refi cash out $400,000 loan?

Now multiply that by billions.

It is wealth, and we don't tax wealth, but they are using that money and realizing those benefits.

I'm not a tax person, so I really don't know exactly how any of this would be taxed.