A new investigation by The New York Times shows how the richest U.S.families have avoided paying billions of dollars in taxes by quietly building a “private tax system.” The rich have reportedly exploited esoteric loopholes in the current tax system while pouring millions into lobbying for policies to pay even lower taxes, such as repealing the inheritance tax. The result has been billions of dollars in lost taxes. Twenty years ago, the 400 richest families paid 27 percent of their income to federal taxes. In 2012, the 400 richest families paid only 17 percent. Many of these same families who have exploited tax loopholes have poured large sums of money into the 2016 presidential campaign.