We Uncovered The Radical Solution To Our Rigged Tax Code

We know the problem. [Ronald Reagan] Tax cuts. And this is only the beginning. [Fox News Anchor] Since 1976, the top .001%, their wealth is up 3,000%. [Faiz] For at least five decades now, America has created a tax code that favors wealth accumulation by the rich over the income earned by workers, resulting in a record-setting wealth gap.

[CBS Anchor] Warren Buffett, Jeff Bezos, Michael Bloomberg and Elon Musk pay little or sometimes nothing in federal income taxes. [Faiz] Fortunately, the American public is loud and clear as to what needs to happen. [Crowd chanting] Tax the rich! Tax the rich! But how? How specifically are we going to tax the rich? I traveled to meet with the ultrawealthy...

I mean, I know a bunch of these people personally. A lot of these people are narcissistic sociopaths. They just don't give a rip about anyone but themselves. [Faiz] ...tax and budget experts... [Michael] We know for a fact that some of these very, very wealthy people and corporations are literally paying zero. [Faiz] ...and even anti-tax conservatives,

to better understand how our tax code works. In your view, trickle down does work. Well, it does trickle down. What I learned is that making our tax code work for everyone is not so complicated, and that if we want to solve it, we can draw inspiration from the very man whose Reaganomics led us into this mess.

[Ronald Reagan] Common sense told us that when you put a big tax on something, the people will produce less of it. We'll discuss three key ways to put a big tax on extreme wealth so that we can produce less of it. Let's get into it. This is Big Ideas from More Perfect Union.