Center for American Progress

A strong estate tax will ensure equal treatment of wealth and wages
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A strong estate tax will ensure equal treatment of wealth and wages

Alexandra Thornton and Galen Hendricks recommend that policymakers enact a stronger estate tax in order to address rising wealth inequality.

Inequality has increased tremendously over the past few decades as the wealthiest households continue to accumulate gains while stagnant wages for middle- and working-class Americans see an ever-diminishing slice of a growing pie.

A significant portion of this situation can be attributed to the steady erosion of our tax code over the past few decades. Of the trillions of dollars in tax cuts enacted over the last 18 years, an estimated 65 percent have gone to the top 20 percent of households, and nearly a quarter has gone to the top 1 percent.

The above excerpt was originally published in The Hill. Click here to view the full article.

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Authors

Alexandra Thornton

Senior Director, Tax Policy

Galen Hendricks

Research Associate