In his State of the Union address on Tuesday night, President Biden stated:

We have to reward work, not just wealth. Pass my proposal for the billionaire minimum tax. You know, there’s [sic] a thousand billionaires in America. It’s up from about 600 at the beginning of my term.

But no billionaire should be paying a lower tax rate than a schoolteacher or a firefighter. I mean it. Think about it.

I have thought about it. I have four thoughts.


The above is from David R. Henderson, “Taxing Wealth Is Taxing Work,” TaxBytes, Institute for Policy Innovation, February 9, 2023.

Read the piece (it’s not long) to see what my 4 thoughts are.