Is it time to limit personal wealth?

After examining a trove of tax returns spanning more than 15 years, the journalism nonprofit reported this week that America’s billionaires were legally keeping their tax bills low by declaring minuscule amounts of taxable income relative to their rapidly expanding fortunes. ProPublica calculated that from 2014 to 2018, the 25 richest Americans paid taxes equal to only 3.4 percent of their gain in wealth. But if multibillionaires pay, as a share of their net worth, virtually nothing in income taxes — and sometimes pay nothing at all — we, as a society, let them do it.