You’ve misdiagnosed the problem. Taxing billionaires more is worthwhile, but it’s not causing the deficits and won’t fix them.
- billionaires. This isn't an easy fix, it would require a wealth tax or similar.
- the rest of the 1%. They are collectively far more wealthy than the billionaires, and the fix is actually quite simple: close the corporate pass-through tax loophole. Most of them are wealthy "small" business owners. The fix is simple, but difficult politically. There are a lot of people taking advantage of this loop hole, and they're quite influential and connected and.