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The Mother Jones Podcast

How America's Super-Rich Tax Evaders Are Hurting Everyone

The Mother Jones Podcast

Mother Jones

News, Scoops, Journalism, Politics, Investigations, Elections

4.51.1K Ratings

🗓️ 14 April 2021

⏱️ 28 minutes

🧾️ Download transcript

Summary

Money. You’re probably thinking a lot about it these days. From a global pandemic that’s tanked the global economy, to President Joe Biden’s $2 trillion infrastructure bill, to workers once again trying (and failing) to unionize at Amazon, who gets what and how is the recurring theme of so many important social and political debates right now.

Michael Mechanic is a long-time Senior Editor at Mother Jones. His compelling new book is called Jackpot: How the Super-Rich Really Live—and How Their Wealth Harms Us All. From Capitol Hill to family office suites  to wine cellar bunkers, this is an eye-opening romp through the lives of the richest people in America–the so-called One Percenter and a.comprehensive look at the structures behind wealth inequality. Not to mention the psychological effects of wealth on the very people who have the most of it. "Higher wealth is associated with more entitlement and narcissism, less compassion," explains Mechanic on the podcast. "People who are wealthier tend to be less socially attuned to those around them."

In this conversation with Jamilah King, Mechanic discusses the tax code, the ways that race and gender have played into the accumulation of generational wealth, the tension between the promise of the American dream and the stark reality of the present-day wealth gap. And that specifically American landscape does not have much allure for others. "When people visualize how bad the wealth gap is in America,” Mechanic notes, “they say, I don't want to live there."

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Transcript

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0:00.0

This is the Mother Jones podcast.

0:02.6

I'm Jamila King in Brooklyn.

0:04.4

On today's show,

0:13.9

Money.

0:17.0

You're probably thinking about it a lot these days.

0:23.2

From the world being in the middle of year two of a pandemic that's tanked the global economy,

0:28.5

to President Joe Biden's $2 trillion infrastructure bill to workers once again trying to unionize

0:35.5

on Amazon, who gets what and how is the backdrop of everything that matters right now?

0:47.1

And while the majority of us scramble for a piece of the pie, the super rich, they're scared.

0:53.3

And not just because Biden wants to raise the corporate tax rate and force multinational

0:58.0

corporations to stop hiding assets overseas to pay for his big plans, for decades, the

1:03.7

super rich have been amassing piles of wealth while tricking themselves into thinking that

1:08.9

they've earned every penny.

1:11.2

The mind-boggling psychology of wealth.

1:13.8

That's all coming up.

1:14.8

Stick around.

1:23.3

Michael Mechanic is a long-time senior editor at Mother Jones.

1:31.2

His fascinating new book is called Jackpot, how the super rich really live and how their

1:36.6

wealth harms us all.

1:38.8

It's an eye-opening romp through the lives of the richest people in America, the so-called

1:43.1

one-percenters, from Capitol Hill to family offices to wine-seller bunkers.

1:49.4

This is a comprehensive look at the structures behind wealth inequality and the psychological

...

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