1. United States
2. Miss.
3. Letter

The tax system in the United States has become deeply skewed, allowing the ultrawealthy to legally avoid paying their fair share. Recent revelations show billionaires like Jeff Bezos, Elon Musk, and Warren Buffett have been able to massively grow their fortunes while paying negligible amounts in federal income tax over decades. This underscores the need for comprehensive reform to ensure the wealthiest Americans contribute appropriately based on their true ability to pay. The ultrarich exploit legal loopholes that allow them to categorize enormous unrealized gains on assets like stock as non-taxable income. Simultaneously, they take out loans using these assets as collateral to fund their lifestyles tax-free. Furthermore, provisions like the "step-up in basis" enable intergenerational transfers of wealth without taxation on the appreciated value. This growing disconnect between income reporting and actual economic gain has exacerbated wealth inequality to unconscionable levels. Therefore, we urgently need an overhaul that realigns the tax code with core principles of equity and shared sacrifice. Potential solutions include taxing unrealized capital gains, raising rates on investment income, eliminating loopholes that facilitate generational wealth transfers, and strengthening IRS enforcement capabilities. Only by closing these legal avenues for tax avoidance by the richest can we restore fairness and public faith in the system. The American people deserve a tax code that promotes equitable contribution from all based on genuine economic circumstances.