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In past times yr and a half, a huge selection of 1000s of Us residents have died from COVID-19, when hundreds of thousands had been thrown out of labor. But among the list of bleakest intervals in American history turned out to get The most beneficial for billionaires.

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Then arrives the estate tax, which, at forty%, is between the highest inside the federal code. This tax is alleged to give The federal government a single very last chance to obtain a piece of all All those unrealized gains together with other property the wealthiest Americans accumulate around their lifetimes.

That’s a mere 1.one% of whatever they stated on their tax kinds as their overall documented earnings. The rest mainly came from dividends and the sale of stock, bonds or other investments, which can be taxed at reduced prices than wages.

We then confirmed the data by comparing things of it with dozens of presently community tax particulars (in court files, politicians’ monetary disclosures and news tales) and his explanation by vetting it with folks whose tax details is contained in the trove.

ProPublica reporters put in months processing and examining the fabric to rework it right into a usable database.

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