In America, the top three wealthiest men possess more money than the entire bottom 50 percent, according to Inequality.org. This stark inequality of wealth is unacceptable, but there are many ways to fix it.

Taxing the wealthiest people in America more is a controversial method. However, this solution could provide a more positive outcome than people think. While this is a view widely held by Democrats, if both parties got behind it, we could have a better American future.

In theory, many people support higher taxes on rich Americans. In a recent New York Times poll, it was shown that over 50 percent of Americans, no matter what political party, support government action to combat wealth inequality, and over 60 percent of Americans support a 2 percent tax on Americans with wealth of over $50 million.

This sort of tax may seem like common sense, but many people also oppose taxing the rich. President Donald Trump in 2017 passed a tax plan that has actually benefited the wealthiest Americans. According to a report by Bloomberg, the recent tax law has delivered taxpayers who earn over $1 million a tax cut of $37 billion.

If the richest Americans paid higher taxes, there would be more money to go toward social programs and infrastructure. All government-run entities could have higher budgets and many people who live on very little money a day could have a chance to help themselves out of poverty.

Programs like Medicare, Medicaid and the Department of Veterans Affairs could receive more money to help Americans who can’t afford healthcare. The public schools system lessens the wealth inequality gap in the long run by educating children and could benefit from more funding.

Solving the wealth inequality in America can’t be done when the wealthiest people in America possess exuberant amounts of money.

Representative Alexandria Ocasio-Cortez recently has stated that individuals with an income over $10 million should have a 70% tax. This sounds extreme, but it is a step in the right direction to equally taxing the rich and the low income earners. In the looming presidential election, this could turn out to be a key issue. One of the biggest proponents of higher taxes on the richest Americans is Massachusetts senator Elizabeth Warren, who recently announced her bid for the Democratic candidacy.

Bernie Sanders, who is also another big proponent for higher taxes, also announced another presidential bid recently. It is hopeful to see candidates and current law makers who will work towards a more stable and equal economy.

Howard Schultz, former CEO of Starbucks, has recently been teasing a 2020 campaign. He has said he would run as an independent because Democrats want higher taxes on the rich. Schultz ranked as number 280 on the Forbes list, with a net worth of over $3 billion dollars. Higher tax rates would affect him as well. This position is noncommittal and ridiculous in a country where, according to the center for poverty at UC Davis, 39.7 million people live in poverty.

The wealthiest Americans should be taxed fairly. It would benefit the entire country as well as the wealth inequality that plagues America. This is an issue that should be taken seriously and become non-partisan because it would benefit all in the long run.

Abby Sliva can be reached at sliv7912@stthomas.edu.