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 [ FRONT PAGE EVENTS ](https://www.citywatchla.com/index.php?option=com_content&view=category&id=81)

#  Let’s talk about Biden’s New Billionaire Tax Proposal

April 01 2022

Written by CityWatch.

<a class="a2a_button_facebook"></a><a class="a2a_button_twitter"></a><a class="a2a_button_email"></a><a class="a2a_button_print"></a>[](https://www.addtoany.com/share)

| \| ![ProPublica](https://assets.propublica.org/static/v4/images/logo-propublica.png)  ![ProPublica](https://assets.propublica.org/static/v4/images/logo-propublica-ffffff.png) \| [Donate](https://link.propublica.org/click/27192821.41987/aHR0cHM6Ly9naXZlLnByb3B1YmxpY2Eub3JnL2dpdmUvMzQ2NDIzLz91dG1fc291cmNlPXNhaWx0aHJ1JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPWV2ZW50IyEvZG9uYXRpb24vY2hlY2tvdXQ_dXRtX3NvdXJjZT1zYWlsdGhydSZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jb250ZW50PXRvcC1idXR0b24mY19zcmM9MjcxOTI4MjEuNDE5ODc/5f0c8c919f2de35c3e5bfa8cB6d2b1cd2) \| \|---\|--:\| |
|:-:|
| \| \\| Dear Reader,  Tax season is upon us. For the past year, ProPublica’s series “[The Secret IRS Files](https://link.propublica.org/click/27192821.41987/aHR0cHM6Ly93d3cucHJvcHVibGljYS5vcmcvc2VyaWVzL3RoZS1zZWNyZXQtaXJzLWZpbGVzP3V0bV9zb3VyY2U9c2FpbHRocnUmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249ZXZlbnQ/5f0c8c919f2de35c3e5bfa8cBd743cf56)” has illuminated how the federal tax system helps increase wealth inequality. Each story in the series highlights a different strategy that the ultrawealthy use to shield their wealth from taxes, from writing off losses incurred by [thoroughbreds](https://link.propublica.org/click/27192821.41987/aHR0cHM6Ly93d3cucHJvcHVibGljYS5vcmcvYXJ0aWNsZS93aGVuLXlvdXJlLWEtYmlsbGlvbmFpcmUteW91ci1ob2JiaWVzLWNhbi1zbGFzaC15b3VyLXRheC1iaWxsP3V0bV9zb3VyY2U9c2FpbHRocnUmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249ZXZlbnQ/5f0c8c919f2de35c3e5bfa8cB0512c798) or [sports teams](https://link.propublica.org/click/27192821.41987/aHR0cHM6Ly93d3cucHJvcHVibGljYS5vcmcvYXJ0aWNsZS90aGUtYmlsbGlvbmFpcmUtcGxheWJvb2staG93LXNwb3J0cy1vd25lcnMtdXNlLXRoZWlyLXRlYW1zLXRvLWF2b2lkLW1pbGxpb25zLWluLXRheGVzP3V0bV9zb3VyY2U9c2FpbHRocnUmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249ZXZlbnQ/5f0c8c919f2de35c3e5bfa8cB9e6a3e80) to, in Peter Thiel’s case, building a Roth IRA into a [$5 billion tax shelter](https://link.propublica.org/click/27192821.41987/aHR0cHM6Ly93d3cucHJvcHVibGljYS5vcmcvYXJ0aWNsZS9sb3JkLW9mLXRoZS1yb3Rocy1ob3ctdGVjaC1tb2d1bC1wZXRlci10aGllbC10dXJuZWQtYS1yZXRpcmVtZW50LWFjY291bnQtZm9yLXRoZS1taWRkbGUtY2xhc3MtaW50by1hLTUtYmlsbGlvbi1kb2xsYXItdGF4LWZyZWUtcGlnZ3ktYmFuaz91dG1fc291cmNlPXNhaWx0aHJ1JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPWV2ZW50/5f0c8c919f2de35c3e5bfa8cBa5f04093).  ***The Billionaire Playbook***    Tuesday, April 12    4-5 p.m. Eastern time \\| \| \|:-:\| |
|:-:|
| \| [Register Here ](https://link.propublica.org/click/27192821.41987/aHR0cHM6Ly93d3cucHJvcHVibGljYS5vcmcvZXZlbnRzL3RoZS1iaWxsaW9uYWlyZS1wbGF5Ym9vaz91dG1fc291cmNlPXNhaWx0aHJ1JnV0bV9tZWRpdW09ZW1haWwmY19zcmM9MjcxOTI4MjEuNDE5ODcmdXRtX2NhbXBhaWduPWV2ZW50/5f0c8c919f2de35c3e5bfa8cBe32a9f24) \| |
|:-:|
| \| \\| A new tax proposal released this week by President Joe Biden takes direct aim at billionaires. At this event, we will unpack Biden’s billionaire tax proposal, discuss how the federal tax system is broken (and who broke it), and explain why the federal tax code is key to reducing wealth inequality. [Click here to see the list of speakers](https://link.propublica.org/click/27192821.41987/aHR0cHM6Ly93d3cucHJvcHVibGljYS5vcmcvZXZlbnRzL3RoZS1iaWxsaW9uYWlyZS1wbGF5Ym9vaz91dG1fc291cmNlPXNhaWx0aHJ1JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPWV2ZW50/5f0c8c919f2de35c3e5bfa8cCc11f5c0b).  Hope you can join us,  Connor Goodwin    Proud [ProPublican](https://link.propublica.org/click/27192821.41987/aHR0cHM6Ly93d3cucHJvcHVibGljYS5vcmcvcHJvcHVibGljYW5zP3V0bV9zb3VyY2U9c2FpbHRocnUmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249ZXZlbnQ/5f0c8c919f2de35c3e5bfa8cB44b8ef92) \\| \| \|:-:\| |
|:-:|

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