Erica E Phillips

@ericaephillips.bsky.social

News editor for the nonprofit CT Mirror (@ctmirror.bsky.social). Interested in how state policy decisions affect our everyday. Formerly WSJ, Marketplace, etc. she/her

This is how a lot of businesses operate. And a lot of people voted for this guy because he promised to run the country “like a business.” I wouldn’t even describe this as a conscious decision by the president—I think this is how he has understood the world from Day 1. (Screenshot: NYT newsletter)

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Good explainer here. “Billionaires use borrowed money for living expenses, pledging their shares or other assets as collateral. The interest on the debt is much lower than a capital-gains tax bill would be, and their stock portfolios can continue accumulating gains.” www.wsj.com/finance/bill...

Billionaires’ Low Taxes Are Becoming a Problem for the Economy

Tax avoidance by the superwealthy is an economic issue as well as a political one.

wsj.com