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Author of 'The Second Estate' argues that America's tax code has created a new aristocracy

NPR

By Sacha Pfeiffer

Published November 1, 2025 at 5:58 PM EDT

In her book The Second Estate, Ray Madoff explains how the U.S. tax system lets the ultra-rich grow their wealth tax-free while working Americans bear the burden.

Copyright 2025 NPR

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Sacha Pfeiffer

Sacha Pfeiffer is a correspondent for NPR's Investigations team and an occasional guest host for some of NPR's national shows.

See stories by Sacha Pfeiffer

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