Billionaires are getting a bad name. "Eat the rich" is the new mantra of the Left's greed and envy lobby. 

Once upon a time, we saluted and celebrated America's empire builders who got rich but created great industries that built the richest nation on earth. Now the Left in America demonizes them. 

We see the assault on wealth every day: wealth taxes, blue states raising their income taxes on millionaires and billionaires, and many Democrats in Washington wanting to institute tax rates above 50 percent. 

But much of this rich-bashing isn't based on fact. Robert Reich of the University of California, Berkeley, wrote recently that average Americans pay a 14 percent tax rate, but billionaires pay less than 2 percent. Actually, those Americans in the top 1 percent of income actually pay almost 40 percent of the entire income tax – more than the bottom 90 percent combined. 

That's right. One out of 100 Americans pays more than 90 out of 100. That sounds pretty progressive to me. These numbers don't include the hundreds of thousands of jobs created by billionaires, nor the value of the products that we all freely buy. I was fortunate to become friends with Fred Smith, the founder of FedEx. Fred died last year, but he built........

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