March 31, 2021
Raising This Tax Would Make the Ultra-Rich Pay Their Fair Share
A reformed estate tax could reduce extreme wealth inequality and end tax breaks for dynasty trusts and other loopholes exploited by the rich.
Gage Skidmore / Flickr
Millions of Americans are still dealing with the painful effects of the pandemic-induced recession. But one group has done phenomenally well: billionaires. While many Americans have lost their jobs, income and health care, the country’s billionaires have seen their collective wealth skyrocket by over $1.3 trillion since March 2020.
As we get closer to finally escaping the pandemic and look to revitalize our middle class, it’s only fair to ask America’s multimillionaires and billionaires to help pick up the tab. But we also need to address the underlying inequality that has let this group’s wealth skyrocket while the rest of the country suffers.
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Read the full article at CNN Business.
Originally in CNN.
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