Ray Madoff: "The Tax System No Longer Taxes Investments And Inheritances"

Today on The Gist, the media misinformation surrounding historical focus groups and billionaire tax histories. Then, Boston College Law School professor Ray Madoff joins the show to discuss her new book, The Second Estate: How the Tax Code Made an American Aristocracy. Madoff unpacks the modern "buy, borrow, die" strategy, detailing how the top tier of wealth utilizes the "step-up in basis" loophole to wash away billions in capital gains upon death. She challenges the legal and rhetorical definitions that prioritize taxing working-class wages over massive generational asset transfers and explains how the estate tax was systemically defanged into a multi-billion-dollar cover for dynastic wealth. Produced by Corey Wara Video and Social Media by Geoff Craig Do you have questions or comments, or just want to say hello? Email us at ⁠⁠⁠⁠[email protected] For full Pesca content and updates, check out our website at https://www.mikepesca.com/⁠ For ad-free content or to become a Pesca Plus subscriber, check out ⁠⁠⁠⁠https://subscribe.mikepesca.com/ For Mike's daily takes on Substack, subscribe to The Gist List https://mikepesca.substack.com/ Follow us on Social Media:⁠⁠⁠⁠ YouTube https://www.youtube.com/channel/UC4_bh0wHgk2YfpKf4rg40_g⁠⁠⁠⁠ Instagram https://www.instagram.com/pescagist/ X https://x.com/pescami TikTok https://www.tiktok.com/@pescagist To advertise on the show, contact ⁠⁠⁠⁠[email protected] Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Today on the Saturday show, host Mike Pesca shares a revealing conversation with independent media veteran Chris Cillizza from a recent Substack Live  offering an unvarnished look behind the scenes of the modern creator economy. The duo breaks down the financial and administrative realities of running independent operations, tracing Mike’s impending departure from The Gist to the exhausting logistics of multi-state regulatory compliance and algorithmic shifts that force audio creators to prioritize video clips over actual long-form text. Produced by Corey Wara Video and Social Media by Geoff Craig Do you have questions or comments, or just want to say hello? Email us at ⁠⁠⁠⁠[email protected] For full Pesca content and updates, check out our website at https://www.mikepesca.com/⁠ For ad-free content or to become a Pesca Plus subscriber, check out ⁠⁠⁠⁠https://subscribe.mikepesca.com/ For Mike's daily takes on Substack, subscribe to The Gist List https://mikepesca.substack.com/ Follow us on Social Media:⁠⁠⁠⁠ YouTube https://www.youtube.com/channel/UC4_bh0wHgk2YfpKf4rg40_g⁠⁠⁠⁠ Instagram https://www.instagram.com/pescagist/ X https://x.com/pescami TikTok https://www.tiktok.com/@pescagist To advertise on the show, contact ⁠⁠⁠⁠[email protected] Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Today on The Gist, reaching into the archives for a pre-July 4th holiday treat, sharing a classic 2017 spoof that features dramatic readings of unexpected July 3rd historical texts. Then, the final episode of Not Even Mad, Mike Pesca, Elizabeth Bruenig, and Ben Kawaller debate the rising power of democratic socialism after several progressive upset victories. The panel then shifts to JD Vance’s new faith memoir, Communion, analyzing the theological contradictions of Vance's self-professed lack of fear regarding damnation and his framing of Catholicism as a tool for Western social control. Finally, they air out their signature "goat grinders," taking aim at the emotional manipulation of true-crime documentaries and the irritating rise of the storefront phrase "welcome in." Produced by Corey Wara Video and Social Media by Geoff Craig Do you have questions or comments, or just want to say hello? Email us at ⁠⁠⁠⁠[email protected] For full Pesca content and updates, check out our website at https://www.mikepesca.com/⁠ For ad-free content or to become a Pesca Plus subscriber, check out ⁠⁠⁠⁠https://subscribe.mikepesca.com/ For Mike's daily takes on Substack, subscribe to The Gist List https://mikepesca.substack.com/ Follow us on Social Media:⁠⁠⁠⁠ YouTube https://www.youtube.com/channel/UC4_bh0wHgk2YfpKf4rg40_g⁠⁠⁠⁠ Instagram https://www.instagram.com/pescagist/ X https://x.com/pescami TikTok https://www.tiktok.com/@pescagist To advertise on the show, contact ⁠⁠⁠⁠[email protected] Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Today on The Gist, we explore the media framing of the Supreme Court's birthright citizenship decision. Then, author and cultural critic Isaac Butler joins the show to discuss his new book, The Perfect Moment: God, Sex, Art, and the Birth of America's Culture Wars. Butler tracks our modern societal rifts back to the volatile 1974 Kanawha County textbook war in West Virginia, detailing how a routine school board vote spiraled into bombings and sophisticated right-wing direct-mail infrastructure. He maps the unexpected political coalitions of the Reagan era, evaluates the intense federal funding battles surrounding transgressive masterpieces like Andres Serrano’s Piss Christ, and outlines how the devastating vacuum of the AIDS crisis forced the LGBTQ community to use provocative art as a vital vehicle for authenticity and survival. Produced by Corey Wara Video and Social Media by Geoff Craig Do you have questions or comments, or just want to say hello? Email us at ⁠⁠⁠⁠[email protected] For full Pesca content and updates, check out our website at https://www.mikepesca.com/⁠ For ad-free content or to become a Pesca Plus subscriber, check out ⁠⁠⁠⁠https://subscribe.mikepesca.com/ For Mike's daily takes on Substack, subscribe to The Gist List https://mikepesca.substack.com/ Follow us on Social Media:⁠⁠⁠⁠ YouTube https://www.youtube.com/channel/UC4_bh0wHgk2YfpKf4rg40_g⁠⁠⁠⁠ Instagram https://www.instagram.com/pescagist/ X https://x.com/pescami TikTok https://www.tiktok.com/@pescagist To advertise on the show, contact ⁠⁠⁠⁠[email protected] Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Today on The Gist, we explore the media framing of the Supreme Court's birthright citizenship decision. Then, author and cultural critic Isaac Butler joins the show to discuss his new book, The Perfect Moment: God, Sex, Art, and the Birth of America's Culture Wars. Butler tracks our modern societal rifts back to the volatile 1974 Kanawha County textbook war in West Virginia, detailing how a routine school board vote spiraled into bombings and sophisticated right-wing direct-mail infrastructure. He maps the unexpected political coalitions of the Reagan era, evaluates the intense federal funding battles surrounding transgressive masterpieces like Andres Serrano’s Piss Christ, and outlines how the devastating vacuum of the AIDS crisis forced the LGBTQ community to use provocative art as a vital vehicle for authenticity and survival. Produced by Corey Wara Video and Social Media by Geoff Craig Do you have questions or comments, or just want to say hello? Email us at ⁠⁠⁠⁠[email protected] For full Pesca content and updates, check out our website at https://www.mikepesca.com/⁠ For ad-free content or to become a Pesca Plus subscriber, check out ⁠⁠⁠⁠https://subscribe.mikepesca.com/ For Mike's daily takes on Substack, subscribe to The Gist List https://mikepesca.substack.com/ Follow us on Social Media:⁠⁠⁠⁠ YouTube https://www.youtube.com/channel/UC4_bh0wHgk2YfpKf4rg40_g⁠⁠⁠⁠ Instagram https://www.instagram.com/pescagist/ X https://x.com/pescami TikTok https://www.tiktok.com/@pescagist To advertise on the show, contact ⁠⁠⁠⁠[email protected] Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Today on The Gist, a look back at a Webby Award nominated focus group spoof from the vault before diving into a major analysis of the Supreme Court's monumental ruling against Donald Trump's birthright citizenship executive order. Then, Pulitzer Prize-winning investigative reporter and author Eric Lichtblau joins the show to discuss his new book, American Reich: A Murder in Orange County, Neo-Nazis, and a New Age of Hate. Lichtblau unpacks the tragic 2018 murder of Ivy League student Blaze Bernstein by his former high school classmate, Sam Woodward, mapping Woodward's toxic path from an online "journal of hate" to a paramilitarized neo-Nazi hate camp in Texas. Finally, in the spiel, a deep dive into the 14th Amendment's original congressional debates reveals why the high court's 6-3 rejection of the citizenship ban successfully held the constitutional line against fringe conservative theories Produced by Corey Wara Video and Social Media by Geoff Craig Do you have questions or comments, or just want to say hello? Email us at ⁠⁠⁠⁠[email protected] For full Pesca content and updates, check out our website at https://www.mikepesca.com/⁠ For ad-free content or to become a Pesca Plus subscriber, check out ⁠⁠⁠⁠https://subscribe.mikepesca.com/ For Mike's daily takes on Substack, subscribe to The Gist List https://mikepesca.substack.com/ Follow us on Social Media:⁠⁠⁠⁠ YouTube https://www.youtube.com/channel/UC4_bh0wHgk2YfpKf4rg40_g⁠⁠⁠⁠ Instagram https://www.instagram.com/pescagist/ X https://x.com/pescami TikTok https://www.tiktok.com/@pescagist To advertise on the show, contact ⁠⁠⁠⁠[email protected] Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Today on The Gist, a look back at a Webby Award nominated focus group spoof from the vault before diving into a major analysis of the Supreme Court's monumental ruling against Donald Trump's birthright citizenship executive order. Then, Pulitzer Prize-winning investigative reporter and author Eric Lichtblau joins the show to discuss his new book, American Reich: A Murder in Orange County, Neo-Nazis, and a New Age of Hate. Lichtblau unpacks the tragic 2018 murder of Ivy League student Blaze Bernstein by his former high school classmate, Sam Woodward, mapping Woodward's toxic path from an online "journal of hate" to a paramilitarized neo-Nazi hate camp in Texas. Finally, in the spiel, a deep dive into the 14th Amendment's original congressional debates reveals why the high court's 6-3 rejection of the citizenship ban successfully held the constitutional line against fringe conservative theories Produced by Corey Wara Video and Social Media by Geoff Craig Do you have questions or comments, or just want to say hello? Email us at ⁠⁠⁠⁠[email protected] For full Pesca content and updates, check out our website at https://www.mikepesca.com/⁠ For ad-free content or to become a Pesca Plus subscriber, check out ⁠⁠⁠⁠https://subscribe.mikepesca.com/ For Mike's daily takes on Substack, subscribe to The Gist List https://mikepesca.substack.com/ Follow us on Social Media:⁠⁠⁠⁠ YouTube https://www.youtube.com/channel/UC4_bh0wHgk2YfpKf4rg40_g⁠⁠⁠⁠ Instagram https://www.instagram.com/pescagist/ X https://x.com/pescami TikTok https://www.tiktok.com/@pescagist To advertise on the show, contact ⁠⁠⁠⁠[email protected] Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Today on The Gist, Mike Pesca delivers a bittersweet announcement. Then, acclaimed novelist and political chronicler Ben Fountain joins for the entire hour to discuss his sprawling, scathing new satirical novel, Rasputin Swims the Potomac. Fountain details his decision to render the fictional president’s identity as a literal redaction, the fascinating parallels between the manufactured reality of professional wrestling and the modern American electorate, and how the relentless firehose of sensory overload generated by our pocket technology forces a mass collective anxiety onto the human brain. Produced by Corey Wara Video and Social Media by Geoff Craig Do you have questions or comments, or just want to say hello? Email us at ⁠⁠⁠⁠[email protected] For full Pesca content and updates, check out our website at https://www.mikepesca.com/⁠ For ad-free content or to become a Pesca Plus subscriber, check out ⁠⁠⁠⁠https://subscribe.mikepesca.com/ For Mike's daily takes on Substack, subscribe to The Gist List https://mikepesca.substack.com/ Follow us on Social Media:⁠⁠⁠⁠ YouTube https://www.youtube.com/channel/UC4_bh0wHgk2YfpKf4rg40_g⁠⁠⁠⁠ Instagram https://www.instagram.com/pescagist/ X https://x.com/pescami TikTok https://www.tiktok.com/@pescagist To advertise on the show, contact ⁠⁠⁠⁠[email protected] Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Today on The Gist, Mike Pesca delivers a bittersweet announcement. Then, acclaimed novelist and political chronicler Ben Fountain joins for the entire hour to discuss his sprawling, scathing new satirical novel, Rasputin Swims the Potomac. Fountain details his decision to render the fictional president’s identity as a literal redaction, the fascinating parallels between the manufactured reality of professional wrestling and the modern American electorate, and how the relentless firehose of sensory overload generated by our pocket technology forces a mass collective anxiety onto the human brain. Produced by Corey Wara Video and Social Media by Geoff Craig Do you have questions or comments, or just want to say hello? Email us at ⁠⁠⁠⁠[email protected] For full Pesca content and updates, check out our website at https://www.mikepesca.com/⁠ For ad-free content or to become a Pesca Plus subscriber, check out ⁠⁠⁠⁠https://subscribe.mikepesca.com/ For Mike's daily takes on Substack, subscribe to The Gist List https://mikepesca.substack.com/ Follow us on Social Media:⁠⁠⁠⁠ YouTube https://www.youtube.com/channel/UC4_bh0wHgk2YfpKf4rg40_g⁠⁠⁠⁠ Instagram https://www.instagram.com/pescagist/ X https://x.com/pescami TikTok https://www.tiktok.com/@pescagist To advertise on the show, contact ⁠⁠⁠⁠[email protected] Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Today on the Saturday special, we present Mike's full, two-part appearance on the public radio show and podcast The Middle with host Jeremy Hobson and California Congressman Ro Khanna. As America approaches its 250th anniversary, the panel tackles the ultimate question: what would you change about the country? Congressman Khanna champions a constitutional amendment to overturn Citizens United and eliminate dark money from politics, while Mike argues for a structural fix to expand human representation by uncapping the total seats in the House of Representatives. Produced by Corey Wara Video and Social Media by Geoff Craig Do you have questions or comments, or just want to say hello? Email us at ⁠⁠⁠⁠[email protected] For full Pesca content and updates, check out our website at https://www.mikepesca.com/⁠ For ad-free content or to become a Pesca Plus subscriber, check out ⁠⁠⁠⁠https://subscribe.mikepesca.com/ For Mike's daily takes on Substack, subscribe to The Gist List https://mikepesca.substack.com/ Follow us on Social Media:⁠⁠⁠⁠ YouTube https://www.youtube.com/channel/UC4_bh0wHgk2YfpKf4rg40_g⁠⁠⁠⁠ Instagram https://www.instagram.com/pescagist/ X https://x.com/pescami TikTok https://www.tiktok.com/@pescagist To advertise on the show, contact ⁠⁠⁠⁠[email protected] Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.