Realistically speaking, most people do NOT have access to the tax loopholes that the 1%+ does. I didn’t realize this was an actual argument, because it’s well established.
Using meme stock millionaires as an example is hilarious. That’s maybe a handful of people in comparison to the rest of the normal working class population.
Here’s a great example of how the rich can creatively avoid taxes, fresh off the press:
https://www.bloomberg.com/news/articles/2021-06-09/sequoia-m...
I do not have access to the same loopholes as the 1%. I do not own a foundation, corporation, or trust, and have no means of creating these.
You most likely do - founding a corporation is trivial in most European countries and the US. But you don't even need any of these things to get "access to the same loopholes" as "the 1%" - buy some stocks and hold them. You've now achieved the same tax "avoidance" that the ProPublica article is talking about.
What lots of people still aren't realizing, all tax codes apply to everyone. There are no class distinctions. New tax codes apply to the 99% as well. When the whole GameStop/AMC stock ride happened, a lot of people realized "I now have an opinion about capital gains taxes... I don't like them". You have access to all the same loopholes the 1% have access to.