How much less money would these billionaires have today if Elizabeth Warren’s wealth tax had been in place? Jeff Bezos: $87 billion vs. $160 billion Bill Gates: $36 billion vs. $97 billion Warren Buffett: $27 billion vs. $88 billion
How much? Amazon AMZN, -0.59% founder and Chief Executive Jeff Bezos’ fortune would be about $87 billion versus the $160 billion it was estimated at last year. Microsoft MSFT, -1.05% founder Bill Gates would have seen his wealth cut to $36 billion from $97 billion. And Berkshire Hathaway’s BRK.A, +0.73% BRK.B, +0.82% Warren Buffett would be sitting on about $27 billion instead of $88 billion.
Warren has said her wealth-tax plan would raise money to fund her proposals such as universal free public college and canceling student debt.The paper, by economists Emmanuel Saez and Gabriel Zucman of the University of California at Berkeley, finds that the top 15 wealthiest Americans as estimated by Forbes magazine would collectively have seen their net worth drop to just under $434 billion had Warren’s plan been in effect since 1982. That’s down from about $942 billion.
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