The 100 Richest Americans Will Pay $ 78 Billion Under the proposed “Wealth Tax” – Economist – Global Economy

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The 100 richest Americans will have to provide more than $ 78 billion in their personal fortunes under the wealth tax proposed by Democratic Senator Elizabeth Warren and other lawmakers on Monday, Bloomberg News reported.

The bill, called the Super Millionaire Tax Law, would require families whose net worth exceeding $ 50 million to pay a tax of 2% of their wealth annually, along with an additional tax of 1% on wealth exceeding $ 1 billion. It is unlikely that progress will be made on Warren’s proposal in a divided Congress, according to Bloomberg.

Under that, Jeff Bezos, the world’s richest person, will have to pay an additional tax fee of at least $ 5.4 billion in 2021 if the bill is passed, while Elon Musk will pay $ 5.2 billion, according to an analysis by Bloomberg.
The measure would cost Bill Gates an additional $ 4 billion and Mark Zuckerberg would have to pay more than $ 2.9 billion to meet his tax liabilities.

And Warren indicated that the wealth tax that she proposed to impose on families whose wealth exceeds $ 50 million could help drive investments in infrastructure, childcare and health reforms as part of President Joe Biden’s plan to “build back better” after the Coronavirus pandemic that affected. Because of it low-income families.

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