America needs more billionaires
Billionaires are getting a bad name. Once upon a time, we saluted and celebrated America's empire builders who got rich but created great industries that built the richest nation on earth. We see the assault on wealth every day: wealth taxes, blue states are raising their income taxes on millionaires and billionaires, and many Democrats in Washington wanting to institute tax rates above 50%. But much of this rich-bashing isn't based on fact. Robert Reich of the University of California, Berkeley, wrote recently that average Americans pay a 14% tax rate, but billionaires ...