You should study the difference between “income earned” as declared on tax reports and “increases in wealth” which are not reported to the IRS at all. The importance of this difference cannot be over-emphasized.
Most of us have to work and are taxed on the income we get by the sweat of our labor, regardless of whether we are renters taking public transportation to work or have a home and have managed to accumulated other assets. Billionaires and most two and three digit multi-millionaires are different. They don’t have to work at all, but they have for decades enjoyed spectacular and regular
increases in completely untaxed “wealth” which is simply not considered income
. How this is possible, how it is
encouraged by our tax system and ignored in your Heritage Foundation colorgram is explained here:
ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.
www.propublica.org