“At a time when the ultrawealthy are amassing historic and dangerous levels of wealth, a federal wealth tax offers a vital and necessary tool for directly redressing extreme wealth inequality.”
By Brett Wilkins. Published 4-14-2023 by Common Dreams
As the deadline for Americans to file federal income tax returns fast approaches, Oxfam America on Friday renewed calls for taxing the ultrarich while publishing an analysis showing America’s growing number of billionaires saw their wealth increase by nearly one-third since the start of the Covid-19 pandemic and by nearly 90% over the past decade.
“Wealth inequality in the U.S. is more extreme and dangerous than income inequality; and we need to change our approach, so we effectively tax wealth as well as income,” the charity said in an introduction to the report, Tax Wealth, Tackle Inequality.
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