Even if high-ranking members like JP Morgan, Rockefeller, Carnegie, etc. had paid the income tax like everyone else, they’d still wind up with access to far more money than they paid in. (The amount of money collected from the rest of the population EACH YEAR ran into the billions by 1917, then the tens of billions by the mid 1940’s, then the hundreds of billions by the mid 1970’s, and it runs into the trillions today.) Remember, they don’t have to own that money to determine how it’s spent.
Of course, these men did not pay income taxes like everyone else. Instead, they used government to establish “tax-exempt” foundations before the income tax became law. This not only enabled them to shield their own fortunes, but it also enabled them to gain further control over Ivy-League education and the federal government itself.
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