It’s past time we shine light on the IRS and an inequitable tax code OPINION: Americans need to advocate for more transparency, a racial equity analysis of both tax penalties and tax incentive programs, and put pressure on the IRS to re-evaluate and change its enforcement policies A copy of a IRS 1040 tax form is seen at an H&R Block office on the day President Donald Trump signed the Republican tax cut bill in Washington, DC on December 22, 2017 in Miami, Florida. (Photo by Joe Raedle/Getty Images) As he reached 100 days in office, President Joe Biden proposed doubling the rate that millionaires pay on capital gains. This is the money that they make when they sell assets. While conservatives decry the proposal, Mr. Biden’s plan will only apply to less than 1% of taxpayers, which is not even the top half of the top 1% of wealthy people in the U.S.