Hit on one of my pet peeves. These are not “costs”. They are estimates dug up of what tax revenue “could be had” if we were to tax everything so that Congress can bargain to cut or tax something else in its stead. There is no “tax every dollar” amount and there never was. And if there were, it would not include wealth taxes or mark to market on unrealized gains taxes, or “imputed rent” anyway, other than for certain corporations. This is all silly political theater. The truth is that they collect enough revenue. That is not really the problem. Their addiction to MORE is the problem.
And please, stop saying ppl shelter their $ in corporations. Corporations pay a 35% tax rate even on capital gains, as there is no preferred rate for them. They generally pay tax on accrued income, whether received to not. Some even pay on unrealized gain (MTM). When the $ does come out as dividends to a shareholder, it is taxed yet again. Any increase in net market value of the corporation is taxed again when stock is sold. I’m not sure what they are sheltering. Their capital is still at work is all. If it draws income, it is taxed. If they withdraw their capital, it is taxed.
If you want a wealth tax, or for rich ppl to pay their “fair share”, call it what it is: income redistribution. What ppl are really saying is that some ppl just make far too much $. I don’t disagree. But call it what it is.