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"Shark Tank" star Mark Cuban is part of a growing group of ultra-wealthy Americans calling on lawmakers to raise their taxes.
- Billionaires including Mark Cuban, Marc Benioff, Ray Dalio, and George Soros have publicly called for the United States to raise taxes on the wealthy.
- Soros was part of a group of 18 ultra-wealthy Americans who published an open letter in June asking presidential candidates to support a moderate wealth tax.
- A wealth tax like the one proposed by presidential candidate Sen. Elizabeth Warren would make ultra-wealthy Americans pay the federal government a small percentage of their net worth each year.
- Here's a running list of the most high-profile, ultra-wealthy Americans who have requested a wealth tax since 2017.
- Visit Business Insider's homepage for more stories.
Some of America's wealthiest people are campaigning for a tax hike on the ultra-wealthy.
Billionaires from Warren Buffett to George Soros have proposed a wealth tax as a way to combat America's growing wealth gap and fund health care and education initiatives. In June, a group of 18 ultra-wealthy Americans, including Abigail Disney and members of the Pritzker and Gund families, published an open letter asking presidential candidates to support a moderate wealth tax.
Politicians, too, are rolling out proposals on this front: A wealth tax like the one proposed by presidential candidate Sen. Elizabeth Warren would make ultra-wealthy Americans pay the federal government a small percentage of their net worth each year. And in September, Bernie Sanders unveiled a wealth tax plan that is even more aggressive than Warren's.
These politicians' and billionaires' calls for a tax on the ultra-wealthy come as the divide between America's rich and poor continues to expand. In 2018, income inequality in the US reached its highest level in more than half a century. The ultra-wealthy actually paid a smaller portion of their income in taxes than average Americans in 2018, an analysis of tax data by the University of California at Berkeley's Emmanuel Saez and Gabriel Zucman found.
While the idea of using a wealth tax to solve America's inequality problem has gained traction in recent years, proposals have been hampered by questions over the effectiveness and the constitutionality of such a tax, Business Insider previously reported.
Keep reading to learn more about some of the most high-profile billionaires and multi-millionaires who have publicly supported raising taxes on the 1%, listed in chronological order.
Are you a multi-millionaire or billionaire with thoughts on wealth taxes? Contact the reporter via encrypted messaging app Signal at +1 (646) 768-4725 using a non-work phone, email at trogers@businessinsider.com, or Twitter DM at @TaylorNRogers. (PR pitches by email only, please.)