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Good news – they’ll still be extraordinarily rich
Sen. Elizabeth Warren’s new wealth tax proposal would take in 6 cents on every dollar over $1 billion in net worth. Billionaire Bill Gates had this to say on CNBC: When you say I should pay $100 billion, okay then I’m starting to do a little math about what I have left over. Sorry, I’m just kidding. The Warren campaign trolled Gates by releasing a tax calculator for billionaires. Here’s what America’s richest people would actually cough up.
- Jeff Bezos, CEO of Amazon
Net Worth: $112 Billion
Would pay: $6.66 Billion
- Bill Gates, founder of Microsoft
Net Worth: $107 Billion
Would pay: $6.38 Billion
- Warren Buffett, CEO of Berkshire Hathaway
Net Worth: $87.5 Billion
Would pay $5.19 Billion
- Mark Zuckerberg CEO of Facebook
Net Worth: $73.4 Billion
Would Pay: $4.3 Billion
- Larry Page CEO of Alphabet
Net Worth: $62.6 Billion
Would Pay: $3.70 Billion
Gates — worth an estimated $106 billion, according to Forbes — would have to pay almost $6 billion annually in addition to his other taxes. It turns out Bill Gates wouldn’t pay $100 billion under Sen. Elizabeth Warren’s wealth tax, after all. In fact, he wouldn't’ even have to fork over the $20 billion he said he’d be glad to pay. At least not in the first year. Under Warren’s “ultra-millionaire tax,” households making at least $50 million would pay a 2% tax on every dollar above that amount and then a 3% tax for every dollar of net worth above $1 billion. Under Warren’s “ultra-millionaire tax,” households making at least $50 million would pay a 2% tax on every dollar above that amount and then a 3% tax for every dollar of net worth above $1 billion.
Brut.
