How the Richest People in America Avoid Paying Taxes | A clever new paper puts concrete numbers to the taxes paid by members of the Forbes 400.

What was the name of Metallica's first full length album again? That feels relevant for some reason.

I expected this article to be way longer than it was. It feels like it just kind of stops before going into enough detail?

I do work for a financial advisor, tax loss harvesting happens every tax season. You sell positions that are at a loss and invest the money in something else. Now you can claim that you lost money even if you reinvest in an asset highly correlated in value to the original one (there are some rules about what you can buy, but they largely don’t affect this technique).

This isn’t even rich people, under a million in assets. If you’re really rich there are tons of different loopholes available to you.