A new study has revealed that billionaires in the United States pay a lower effective tax rate than the average American taxpayer. The research, from economists at Berkeley, found that the individuals on the Forbes 400 list paid an average effective tax rate of 24% from 2018 to 2020, compared with a 30% rate for all other US taxpayers. The study’s findings reignite the debate over wealth inequality and the fairness of the US tax system. It also provides fresh data to proponents of a wealth tax, who argue it is necessary to curb the widening disparity between the rich and the rest of the population.