Open Book with Anthony Scaramucci EXPOSING America's BROKEN Tax Code for the Rich - Ray Madoff
Dec 11, 2025
Ray D. Madoff, a Boston College Law professor and author, dives deep into the intricacies of America's tax code and its role in perpetuating wealth inequality. She uncovers how historic rules foster aristocracy and discusses alarming tax inequities like inheritances and philanthropic benefits. Madoff also highlights the concept of 'dead-hand control' that allows the wealthy to maintain influence across generations. Urging citizens to advocate for reform, she presents practical solutions such as taxing unrealized gains on transfer.
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The Three-Step Tax Avoidance Playbook
- Wealthy Americans use a consistent three-step tax avoidance playbook to escape income taxes.
- They avoid salaries, don’t realize gains, and borrow against assets to access wealth tax-free.
Dead-Hand Control Recreates Aristocracy
- The tax code now enables long-term control of wealth, recreating an aristocracy.
- Dead-hand control lets the wealthy direct assets far into the future, undermining meritocracy.
Salary Avoidance And Borrowing Strategy
- Ultra-wealthy take tiny salaries and hold stock instead of taxable pay.
- They access cash by borrowing against appreciated assets, avoiding capital gains tax.
