Billionaires Demand Wealth Tax

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They’re an eclectic bunch, some of the US most privileged heirs alongside entrepreneurs who have made spectacular fortunes in real estate, finance and Silicon Valley. But collectively they’re united on the need to tax more of the richest Americans’ assets.

George Soros, heiresses to the Pritzker fortune, Abigail Disney and Facebook Inc. co-founder Chris Hughes are among those calling for a wealth tax to help address income inequality and provide funding for climate change and public health initiatives.

Soros and the other signatories claim that a tax of 2 cents on the dollar on assets over $50 million, and an additional tax of 1 cent on the dollar on assets over $1 billion, could generate $3 trillion in tax revenue over ten years.

The complete list of signatories includes: Louise J. Bowditch, Robert S. Bowditch, Abigail Disney, Sean Eldridge, Stephen R. English, Agnes Gund, Catherine Gund, Nick Hanauer, Arnold Hiatt, Chris Hughes, Molly Munger, Regan Pritzker, Justin Rosenstein, Stephen M.Silberstein, Ian T. Simmons, Liesel Pritzker Simmons, Alexander Soros, George Soros.

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