Opinion: How to tax Elon Musk and Jeff Bezos

Edward J. McCaffery is Robert C. Packard trustee chair in law and a professor of law, economics and political science at the University of Southern California. He is the author of “Fair Not Flat: How to Make the Tax System Better and Simpler” and founder of the People’s Tax Page. The opinions expressed in this commentary are his own. View more opinion at CNN.

(CNN) The Billionaires’ Tax Plan being floated by Senate Finance Committee Chair Ron Wyden is an excellent first step in getting the wealthiest Americans to pay something, after a century of nothingness.