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Graeme Jennings-Pool/Getty Images Several Democrats just proposed a wealth tax that would apply to 0.05% of American households. An analysis finds billionaires would have paid $114 billion in 2020 if the plan was in effect. A wealth tax has been a popular proposal for addressing inequality but would face implementation issues. The newly proposed Ultra-Millionaire Tax Act would have raised $114 billion from American billionaires in 2020 if it had been in effect. This projection comes from an analysis from Americans for Tax Fairness (ATF) and the Institute for Policy Studies (IPS). Looking at Forbes billionaire data, the analysis found that the wealth tax would raise $1.4 trillion over 10 years and that billionaire wealth still would increase under the proposal. 

United statesJames mannJanet yellenPritzker simmonsStephen henleyPramila jayapalElizabeth warrenJoe bidenChuck collinsBrendan boyleTaylor nicole rogersLiesel pritzker simmonsSupreme courtInstitute for policy studiesBlue haven initiativeSeveral democrats