How to Tax Billionaires

If you made money last year, you will almost certainly owe taxes by April 15. And if you made a lot, you will probably owe a lot. That’s true for most Americans—just not the richest ones.

And if that makes you angry, you’re justified in feeling that way. But the solution you’re hearing from a lot of politicians at the state and federal levels—wealth taxes—isn’t the answer. Instead of introducing a new, difficult-to-administer, and potentially unconstitutional tax, we should do something simpler: Bring billionaires back into the income-tax system.

Read the full story by Ray D. Madoff in The Atlantic