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- Here's how much smaller the top 11 billionaires' fortunes would've been if Bernie Sanders' or Elizabeth Warren's proposed wealth taxes had been around since 1982
Here's how much smaller the top 11 billionaires' fortunes would've been if Bernie Sanders' or Elizabeth Warren's proposed wealth taxes had been around since 1982
What Sanders and Warren's wealth taxes look like.
Walmart heir Jim Walton. Actual 2018 net worth: $45.2 billion
Net worth under revised Warren wealth tax: $7.8 billion
Net worth under Sanders wealth tax: $5.0 billion
Bloomberg LP founder Michael Bloomberg. Actual 2018 net worth: $51.8 billion
Net worth under revised Warren wealth tax: $12.3 billion
Net worth under Sanders wealth tax: $11.3 billion
Earlier this year, Bloomberg suggested a wealth tax could be unconstitutional and raised the prospect of America turning into Venezuela.
Google founder Sergey Brin. Actual 2018 net worth: $52.4 billion.
Net worth under revised Warren wealth tax: $21.4 billion
Net worth under Sanders wealth tax: $19.0 billion
Koch Industries executives Charles and David Koch. Actual 2018 net worth: $53.5 billion each.
Net worth under the revised Warren wealth tax: $7.9 billion
Net worth under the Sanders wealth tax: $8.0 billion
David Koch died in August, and it is unclear what will happen to Koch's estate. David was included in Saez and Zucman's analysis since it examines the wealthiest US citizens as of year end 2018.
Google founder Larry Page. Actual 2018 net worth: $53.8 billion.
Net worth under revised Warren wealth tax: $22 billion
Net worth under Sanders wealth tax:: $19.5 billion
Oracle founder Larry Ellison. Actual 2018 net worth: $58.4 billion.
Net worth under revised Warren wealth tax: $10.3 billion
Net worth under Sanders wealth tax: $8.5 billion
Facebook founder and CEO Mark Zuckerberg. Actual 2018 net worth: $61 billion.
Net worth under revised Warren wealth tax: $32.5 billion
Net worth under Sanders wealth tax: $28.6 billion
Last month, Zuckerberg expressed concern in a Fox News interview that eliminating billionaires would hurt competition, though he was uneasy with the level of inequality in the United States.
"I think it's good that there are different philanthropies and different organizations that can put competing ideas out about how to do research or science. … I fundamentally believe in that competition that you want different ideas out there," Zuckerberg said.
Berkshire Hathaway CEO Warren Buffett. Actual 2018 net worth: $88.3 billion.
Net worth under revised Warren wealth tax: $10.4 billion
Net worth under Sanders wealth tax:: $8.2 billion
Buffet has come out in favor of paying more taxes.
Microsoft founder Bill Gates. Actual 2018 net worth: $97 billion.
Net worth under revised Warren wealth tax: $13.9 billion
Net worth under Sanders wealth tax: $9.9 billion
Last week, Gates joked he didn't know how much money he would have left over if a wealth tax was implemented, but defended the amount of money he's paid to the government.
He also said he was open to paying more and backed additional taxes for the wealthy.
Amazon founder Jeff Bezos. Actual 2018 net worth: $160 billion.
Net worth under revised Warren wealth tax: $48.8 billion
Net worth under Sanders wealth tax: $43 billion
- Read more:
- Comparing Forbes' lists of America's richest people from 1982 and 2019 shows how differently wealth is tracked today
- Here's how long it would take for 6 of the richest Americans to lose their billionaire status under a 6% wealth tax
- Wealth tax explainer: Why Bernie Sanders, Elizabeth Warren and billionaires like George Soros alike are calling for a specialized tax on the ultra-wealthy
- 4 European countries still have a wealth tax. Here's how much success they've each had.
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