Jesse Eisinger on why the ultra-wealthy barely pay any tax at all
How do ultra-wealthy people avoid paying taxes? It seems like a strange subject to bring up when discussing why some evangelicals are drawn to the Republican Party. But many of the ties between evangelicals and the GOP have to do with money. So, let’s take a little side trip and explore the tax loopholes of today. More importantly, let’s try to understand why so many Americans are tax-averse. Could it possibly be because we, deep down, know that someone else is getting a better deal than us?
Buy, Borrow, Die
One tactic used by the ultra-wealthy is “buy, borrow, die”. They avoid “income”, instead opting for assets like stock and real estate they can borrow against. Borrowed money is not taxed. Then they either pay back those loans with other loans (often with interest rates that are much lower than their tax rates would be) or they fail to pay back the loans. Then… they die.
Jesse Eisinger is a Pulitzer Prize-winning reporter with Pro Publica. Chris first heard about him from his book (pardon the language) The Chickenshit Club and met him when he appeared at a live event in Jackson, WY hosted by the Teton County Library, the Center for the Arts, and the Jackson Hole News and Guide.
The Cask of Amontillado: Edgar Allan Poe’s Classic Story
In the Kanawha County Textbook War episode, Chris shared that the people of that county fought against some textbooks and stories being read in classrooms and as homework. Edgar Allan Poe’s The Cask of Amontillado is one of the texts that was contested.
So Chris decided to read it here as a bonus episode at the end of October. Enjoy!
Between 1910 and 1915 a collection of 90 essays was distributed by two wealthy oil magnates. These essays attempted to nail down the basics of the Christian faith and counteract the growing modernist movement. “The Fundamentals” is often mentioned in history books about Christian fundamentalism, but it is rare for anyone to discuss the essays themselves. So I thought we should break down at least 6 of them together!
I’m joined this episode by some good friends to introduce you to “The Fundamentals”. This influential time capsule document takes us inside the proto-fundamentalist movement, just before it really took off.
Discussion Questions:
What would you include in your own list of fundamentals?
Is creationism fundamental? What is the role of evolution in our modern theology?
The fear of evolution wasn’t just about people thinking we’d come from chimps. It also revolved around concerns of people applying evolution to other areas of life. How have you seen evolution applied to other studies?
Is the Bible inerrant? What does that mean?
Have you read the full Bible yourself? Why or why not?
Essays we read:
“My Experience With the Higher Criticism” by JJ Reeve
“The Deity of Christ” by BB Warfield
“The Certainty and Importance of the Bodily Resurrection of Jesus Christ from the Dead” by Reuben Torrey
“Science and Christian Faith” by James Orr
“Evolutionism in the Pulpit” by “An Occupant of the Pew”
Christians helped to end the British Slave Trade. But we forgot one of it’s greatest heroes: Thomas Clarkson
The British slave trade had several well-known enemies: William Wilberforce and John Newton (who wrote “Amazing Grace”) to name a few. But historian Adam Hochschild (“King Leopold’s Ghost”, “To End All Wars”) argues that history has largely forgotten the most valuable member of the abolition movement: Thomas Clarkson. Clarkson was in charge of gathering and disseminating information across the British Isles. He fought for years to end the slave trade and then slavery itself.
This movement is important for many reasons. It was the first to use logos, a coordinated marketing campaign, and it established a high bar for investigative journalism. It was also an ecumenical movement.
In this episode we explore slavery, the importance of slave rebellions, the power of ecumenical efforts, and the book “Bury the Chains“.
Helpful discussion questions:
Had you heard of Thomas Clarkson before this episode?
Do you participate in any cross-denominational movements? Where do you draw the line?
Has your church ever participated in anti-racism movements?
Was there any wisdom in ending the slave trade first?
Why do you think John Newton didn’t give up the slave trade as soon as he became a Christian?
Was it possible to be a Christian and own slaves?
Do you think humanity will ever go back to slavery?
Do modern payday loans keep people in bondage in the way that debt kept people in bondage in the 1700s?
The story of how pyramid schemes came to effect 1 in 6 American households
Multi-level marketing (MLM) is a relatively new invention. It was created when a failed vitamin salesman named Carl Rehnborg was out of options. So his wife suggested that he attend a rally by Dale Carnegie, author of “How to Win Friends and Influence People”. Once there, he formed a bond that created one of the most profitable predatory financial traps in modern history: multi-level marketing. One that found its legs… in the world of cemetery plots.
