The Swelling Wealth Gap in America

June 24, 2019
Patricia Cohen, NY Times

A recent analysis of a Federal Reserve report found that over the last three decades, the wealthiest one percent of Americans saw their net worth grow by $21 trillion, while the wealth of the bottom 50 percent fell by $900 billion. Imposing a wealth tax on the country’s thin sliver of multimillionaires and billionaires is attracting support from a handful of those who would pay it. A letter being published online on Monday calls for “a moderate wealth tax on the fortunes of the richest one-tenth of the richest 1 percent of Americans.”