We need a 5% wealth tax on America’s 938 billionaires. Over a ten-year period, this bill would raise much-needed $4.4tn for public coffers We need a 5% wealth tax on America’s 938 billionaires. Over a ten-year period, this bill would raise much-needed $4.4tn for public coffers N ever before in American history have so few had so much wealth and power. Today, the top 1% owns more wealth than the bottom 93%. One person, Elon Musk , worth $805bn, owns more wealth than the bottom 53% of American