Sydney Martinez, Campus Carrier opinions editor

At some point, wealth stops being about comfort and starts being about power. Billionaires today have more money than they could ever possibly need. They’re not accumulating wealth to survive, they’re doing it to climb invisible ladders of status, to be known as the richest person on Earth or to fund flashy projects like private space tourism. But while a handful of people chase ego-driven legacies, millions of Americans are struggling to afford rent, pay medical bills and put food on the table. There are much bigger problems than not being called the richest person in the world. Society doesn’t have to be this way. Rich people should be taxed far more than they currently are.

This isn’t a radical idea — it’s common sense. At various points in American history, the richest people were taxed at far higher rates than they are today. According to the Tax Policy Center, during the 1950s and early 1960s, the top marginal tax rates were over 90%. Former President Ronald Reagan’s administration oversaw a top rate of 50%. Today, that number is closer to 37%, and unfortunately thanks to loopholes, offshore accounts and clever accountants, many billionaires pay far less. In some cases, they pay little to nothing at all. ProPublica reported that in certain years, Jeff Bezos, Elon Musk and other top billionaires paid zero dollars in federal income tax. Not because they cheated, but because the system is built to protect them. The top 10% of Americans own 60% of the country’s wealth. That leaves 90% of Americans with only 40% of America’s money. The rich hold a disproportionately large share of the nation’s wealth. They don’t deserve tax cuts.

Higher taxes on the ultra-wealthy could radically improve life for everyone. Public schools could be better funded, roads could be repaired and let’s not forget to mention that Social Security could be stabilized. According to The New York Times, Blue Origin — Jeff Bezos’s space technology company — auctioned a seat on its first flight to space for $28 million. Imagine how many classrooms that money could renovate, how many families it could feed, how many communities it could uplift.

Meanwhile, the source of much of the billionaires’ wealth is deeply troubling. Jeff Bezos built his empire on the backs of low-wage workers, many of whom are paid near-minimum wage while working under intense, even dehumanizing conditions. Instead of spending more on their employees, companies like Amazon prioritize massive profits for executives and shareholders. These practices are exploitation of the working class.

The richest Americans are not contributing to the greater good by hoarding wealth. They are not adding to society’s overall well-being by sitting on billions. A fair tax system would redirect that money to where it’s needed — toward building a better, more just society for everyone, not just those at the top.

And while some billionaires try to soften their image by donating to charity, philanthropy is not a substitute for taxation. Charitable giving is often tied to personal interests and can be used to dodge taxes. More importantly, it is not democratically accountable. When billionaires fund causes of their choosing, they decide what problems matter, how to solve them, practically ignore the basic needs of all Americans only to spare some. Taxes, on the other hand, are meant to serve the public collectively. Roads, schools, emergency services and healthcare are not optional; These are human rights, not privileges given to the regular American by the rich. The working class continuously contribute to their own welfare and it’s not getting them very far. The only solution to these very treatable problems is to tax the rich significantly more than they are paying right now.

Until we stop treating billionaires like untouchable heroes and start holding them accountable, inequality will only deepen. Extreme wealth accumulation isn’t just an economic issue; it’s a moral one. The longer we allow this disparity to grow, the more damage it does to our democracy. Wealth buys influence, lobbyists and access to politicians. The rich shape laws in their favor while average citizens struggle to be heard.

It’s time to reimagine what wealth means and demand that those with the most finally start giving back. No one is saying the rich shouldn’t be rewarded for their work, but when that reward becomes unchecked power while millions go without basic needs, the system needs to change. A society built on fairness, opportunity and shared responsibility is essential for a better tomorrow.