But it’s taken much longer for Washington to get the message. It’s time for lawmakers and the administration to double down on addressing America’s wealth inequality before the next crisis hits.
Of course, low tax rates aren’t the only tool billionaires have used to concentrate their wealth and power. Lawmakers should also commit to reforming our nation’s charitable giving system, which the ultra-wealthy have turned into a taxpayer-subsidized platform of private power.
If we want to be stronger in the face of future crises, we need to tackle the wealth inequality that is distorting our democracy and leaving so many Americans behind.