The Case for a Millionaire Tax

Atlantic |

President Donald Trump on Wednesday pitched a dramatic tax overhaul that would be "the biggest ever" tax cut for middle-class Americans. The pitch included few specifics, but if it resembles past blueprints, there is little doubt that it will indeed be a historically massive tax break—just for rich Americans like Donald Trump. There are better ideas. One comes, surprisingly, from the chief adviser whom Trump just fired. In July, several news outlets reported that Steve Bannon was pushing for a new tax rate for the richest Americans. Strangely, this puts the alt-right ringleader on the…

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