Elizabeth Warren’s campaign just rolled out a handy wealth tax calculator for any billionaires worried about what they’d have to pay under her proposed tax plan.The Massachusetts senator, who’s polling neck-and-neck with Bernie Sanders and Joe Biden for the 2020 Democratic presidential nomination, said she’d double her proposed wealth tax on billionaires from 3% to 6% to fund her progressive health care, climate, child care, and student loan proposals. Under the plan, billionaires would be taxed 6 cents for every dollar over $1 billion they’re worth. The plan would also put a 2% tax on net worth between $50 million and $1 billion.Unsurprisingly, some billionaires aren’t too happy about it — and now Warren’s campaign has calculated just how much they stand to lose if she becomes president and enacts the tax.According to the calculator, Facebook CEO Mark Zuckerberg would pay $4.249 billion. Amazon founder and CEO Jeff Bezos, who happens to be the richest man in the world, would pay $6.697 billion. And Bill Gates, who declined to say whether he’d vote for Warren earlier this week, would pay $6.379 billion if her plan goes into effect.“Don’t worry too much about Bill Gates — if history is any guide, if billionaires do nothing other than invest their wealth in the stock market, it’s likely that their wealth will continue to grow,” Warren’s website reads.READ: Bill Gates Is Worried About Living on $7 Billion. Millennials Have Some Thoughts About That.Gates does seem a little worried, though.“I’m all for super-progressive tax systems,” Gates said at a Wednesday conference. “I’ve paid over $10 billion in taxes. I’ve paid more than anyone in taxes. If I had to pay $20 billion, it’s fine.”But he doesn’t seem to be fine with Warren’s tax plan, even though he’d pay less than $10 billion or $20 billion each year.“But when you say I should pay $100 billion, then I’m starting to do a little math about what I have left over,” he continued. “So you really want the incentive system to be there, and you can go a long way without threatening that.”Cover: Democratic presidential candidate Sen. Elizabeth Warren, D-Mass., speaks during a town hall meeting at Grinnell College, Monday, Nov. 4, 2019, in Grinnell, Iowa. (AP Photo/Charlie Neibergall)
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