You’ve heard about tax havens like the Cayman Islands. But billionaires aren’t just dodging their taxes with international loopholes — US states have turned their tax codes into plutocratic rackets where billionaires can stash their cash tax-free.
Kalena Thomhave is a freelance journalist and researcher working with the Program on Inequality and the Common Good at the Institute for Policy Studies. Her work has appeared in the American Prospect, the Nation, the Progressive, and more. Chuck Collins is the director of the Program on Inequality and the Common Good at the Institute for Policy Studies where he coedits inequality.org. He is author of The Wealth Hoarders: How Billionaires Pay Millions to Hide Trillions.