1. United States
2. Md.
3. Letter

The extreme concentration of wealth in the United States is concerning and detrimental to a fair society. A wealth tax on the ultra-rich could help address this inequality and generate substantial revenue. While critics argue wealth taxes are difficult to implement and have failed in some countries, careful policy design accounting for past lessons can overcome these challenges. Specifically, a high wealth threshold exempting all but the wealthiest few percent, robust enforcement mechanisms, and comprehensive reporting requirements could make a wealth tax viable and effective. Given the vast resources of the ultra-wealthy, they have an outsized ability to shape the economic system to their advantage. A modest wealth tax asking billionaires to pay a bit more would be a reasonable step toward greater equity and investment in initiatives benefiting society as a whole. I urge you to seriously consider implementing a well-designed federal wealth tax to reign in economic inequality and ensure all contribute their fair share.