Velshi: A tax on the ultra-wealthy is not a punishment. It's fairness.

Long before the word progressive became as politically loaded as it is today, policy-makers and economists agreed that a “progressive” tax system is the way to go. The word "progressive" in the context of tax policy means that the government imposes a higher percentage rate on taxpayers who make more money. This is the taxation system the United States is supposed to be following. But you wouldn't know that, given the lengths some of our lawmakers go to protect the investment accounts of America's ultra-rich. Marginally increasing taxes on about 700 of the richest people in America would create transformational change for millions. A tax on the ultra-wealthy is not a punishment. It's fairness. If you want to see who gets penalized by the system, it’s America's workers. That is the opposite of progressive.Oct. 30, 2021