The richest Americans control $46 trillion in wealth—but many pay little or no federal tax. ‪Boston College Law professor Ray Madoff, author of "The Second Estate: How the Tax Code Made an American Aristocracy," explains how a century of tax policy created two Americas: one that pays taxes and one that doesn’t. Drawing on her new book, Madoff reveals how the wealthy use legal tools—inheritance loopholes, trusts, and philanthropy—to avoid taxation altogether. She shows how “charitable giving” oft