Editorial: Biden’s plan for a 20% minimum tax on the ultra-wealthy is fair and makes sense

Published by
St. Louis Post-Dispatch

The ultra-wealthy in America have all sorts of tricks at their disposal to avoid paying their fair share of taxes, which is why it’s not uncommon for a billionaire to end up with a lower-percentage effective tax rate than an average working American. President Joe Biden’s proposal to set a 20% minimum tax rate on the wealthiest households would end that inequity and help pay down the nation’s budget deficit. Biden’s plan, part of the budget he announced last month, is far less sweeping than various progressive proposals for taxing the wealthy, some of which would be based not just on income bu…

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