Ray Madoff
speaker
553 appearances
2 recordings
2 series
first heard Apr 2026
last heard 22 May
Ray Madoff’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in May 2026 with 1.
Appearances
First of all, thank you so much for having me.
I know that the two of you talk a lot about taxes, and it's wonderful to have the chance to join you in conversation on this important topic.
And I'm particularly grateful that you have started with that question because I call that the statistic that saves the rich from taxes.
And we see it being published in lots of publications.
Wall Street Journal, The Economist, The Washington Post has now joined in.
And this is a statistic that is both true and highly misleading.
And so the way it's described as the top 1% tax
pay 40% of all income taxes.
But what they're not saying there is, what do they mean by top 1%?
What they're actually talking about is the top 1% of income earners, those with high taxable income, high paid lawyers, bankers, surgeons, anybody with a very high salary.
And those people are indeed paying heavy taxes.
And however,
The problem is that this says nothing about our wealthiest Americans, and that is because our wealthiest Americans avoid income taxes by avoiding taxable income.
And as a result, they are just as likely to be in the 40% of Americans who pay no income taxes as they are in the top 1% that pay 40% of income taxes.
Or even average American.
Or average American.
Yeah.
So let's start with the tax and the tax lives of most Americans.
The tax lives of most Americans is that they earn their money through work, as I imagine the two of you do and I do and most of our listeners do, right?
And whether they work...
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