AP Economics Writer
WASHINGTON (AP) — When the grand vacation homes of Newport Beach were empty on a beautiful Memorial Day weekend, Molly Munger decided it was time for the U.S. to consider taxing wealth.
As her family's boat moved through the harbor a few years ago, Munger, whose father is a billionaire investor, saw that many of her neighbors' houses were sitting dark and vacant. She knew why: The owners now controlled enough money to holiday at one of their several other luxury homes. It didn't sit right, she said.
"It's just too much to watch that happen at the top and see what is happening at the bottom," said Munger, 71, a California civil rights lawyer whose father, Charlie, built his fortune as vice chairman of Warren Buffett's firm Berkshire Hathaway. "Isn't it a