We Can't Income-Tax Ultra-Elites. We Must Tax Their Wealth.

To tax the richest Americans, we need to go after their wealth, not just their income. Two proposals — one in California, one in Congress — could finally do it. The alternative is an ever-more-powerful billionaire class that threatens democracy itself.

The alternative is an ever-more-powerful billionaire class that threatens democracy itself. Three-quarters of the ultrarich’s true economic.