Economics
Richest Could Lose Hundreds of Billions Under Warren's Wealth Tax
- Bezos, Gates, Buffett could see fortunes shrink, paper says
- Presidential candidate Warren says tax would reduce inequality
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Billionaires such as Jeff Bezos, Bill Gates and Warren Buffett could have collectively lost hundreds of billions of dollars in net worth over decades if presidential candidate Elizabeth Warren’s wealth tax plan had been in effect -- and they had done nothing to avoid it.
That’s according to calculations in a new paper by two French economists, who helped her devise the proposed tax on the wealthiest Americans.