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[L]ess than a century after its adoption, the tax system is being turned on its head. Since at least 1983 it has become the explicit, but unstated, policy... to let the richest Americans pay a smaller portion of their incomes in taxes and to defer more of their taxes... a stealth tax cut, while collecting more in taxes from... the middle class.
— David Cay Johnston
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "[L]ess than a century after its adoption, the tax system is being turned on its head. Since at least 1983 it has become the explicit, but unstated, policy... to let the richest Americans pay a smaller portion of their incomes in taxes and to defer more of their taxes... a stealth tax cut, while collecting more in taxes from... the middle class." in the context of "" to mean that wisdom is timeless.
Source:
The 'What it means' explanation text was generated by Google Gemini Flash (accessed January 18, 2026). https://gemini.google.com/app
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About David Cay Johnston
David Cay Johnston (born December 24, 1948) is an American investigative journalist and author specializing in economics and tax issues. He won the 2001 Pulitzer Prize for Beat Reporting, and from 2009 to 2016 he was a Distinguished Visiting Lecturer at Syracuse University, Martin J. Whitman School of Management and College of Law, teaching tax, property, and regulatory law of the ancient world. From 2011 to 2012 he was a columnist for Reuters, writing, and producing video commentaries on worldwide issues of tax, accounting, economics, public finance and business. In recent years he has also written for Al Jazeera America and Al Jazeera English, and is the board president of Investigative Reporters and Editors, Inc. (IRE).
About David Cay Johnston
David Cay Johnston (born December 24, 1948) is an American investigative journalist and author specializing in economics and tax issues. He won the 2001 Pulitzer Prize for Beat Reporting, and from 2009 to 2016 he was a Distinguished Visiting Lecturer at Syracuse University, Martin J. Whitman School of Management and College of Law, teaching tax, property, and regulatory law of the ancient world. From 2011 to 2012 he was a columnist for Reuters, writing, and producing video commentaries on worldwide issues of tax, accounting, economics, public finance and business. In recent years he has also written for Al Jazeera America and Al Jazeera English, and is the board president of Investigative Reporters and Editors, Inc. (IRE).
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