“Nevada has helped make it possible for super-wealthy families like the Gettys to dodge taxes owed to other states like California.”
The more we learn from courageous whistleblowers like Marlena Sonn, the more outrage and pressure will build to reform trust law and eliminate the games that the Waltons and the Gettys are playing.
The world’s wealthy already operate by a different set of rules and laws. But allowing the full scale carveout and manipulation of U.S. state trust law to serve their interests should not be one of them.
Yes, we could ensure that our richest pay something in the neighborhood of their fair tax share.
A new report estimates that $21 trillion of that wealth will pass internally within America’s already dynastically wealthy families between now and 2045.
State-level loopholes have made it possible for some of the wealthiest families in the world to make sure most of their riches are never taxed.