Why is it so hard to tax billionaires? (Part 1)

2373.274 - 2394.359 PJ Vogt

Just as a reminder, in the last chapter we learned about this, but basically there's two types of tax systems. Regressive, where everyone pays the same dollar amount, rich or poor, the sales tax on a bottle of whiskey, progressive. And then there's progressive, where people pay a percentage based on their wealth. In those systems, rich people pay more. Our new income tax was progressive.