Warren's wealth tax calculator for 'confused' billionaires

Presidential candidate Elizabeth Warren (D-MA) hasn’t been shy about her desire to impose a tax on the wealthy

The Massachusetts senator exchanged Tweets with billionaire Microsoft (MSFT) co-founder Bill Gates after he spoke out against her wealth tax. Now Warren has revealed just how much he would pay under her wealth tax plan — and how much other well-known, high-wealth figures would pay as well. 

Her website created a Calculator for the Billionaires and features sections for various figures at the top of the income bracket, including Amazon (AMZN) CEO Jeff Bezos, Facebook (FB) CEO Mark Zuckerberg, Gates, JPMorgan Chase (JPM) CEO Jamie Dimon, and even Education Secretary Betsy DeVos’ family. Individuals who identify as billionaires can also enter in their respective incomes to find out how much they’d pay. 

‘Don’t worry too much about Bill Gates’

The Warren wealth tax plan would impose an annual tax of 2% on every dollar a household has above $50 million, which increases to 6% for households with more than $1 billion. Under this plan, Gates, who has a net worth of approximately $107 billion, would pay $6.4 billion in taxes. 

“Don’t worry too much about Bill Gates,” Warren’s website stated. “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.” 

And although Amazon paid $0 in federal taxes last year, its CEO, Jeff Bezos would have to pay $6.7 billion under this plan. 

Meanwhile, Dimon, another vocal critic of Warren’s wealth tax, would pay $55 million based on his net worth of $1.6 billion. Betsy DeVos’s family would be taxed a whopping $283 million for their collective net worth of $5.4 billion. 

Warren has repeatedly emphasized that the revenue generated from her wealth tax would go towards programs she hopes to fund, like Medicare for All and expanded Social Security. The idea has garnered the support of other politicians, like Sen. Bernie Sanders (I-VT) and Rep. Alexandria Ocasio-Cortez (D-NY). 

Experts project that Warren’s wealth tax would generate $2.75 trillion in revenue over a 10-year period. 

‘My friends and I have been coddled long enough’

There appears to be growing support for a wealth tax from the public — a Politico/Morning Consult poll from earlier this year indicated that 76% of registered voters believe wealthy Americans should pay more taxes. Additionally, a Fox News survey revealed that 70% of Americans, including 54% of Republicans, are in support of raising taxes on those who earn more than $10 million.

“Consider two people: an heir with $500 million in yachts, jewelry, and fine art, and a teacher with no savings in the bank,” Warren said in her plan. “If both the heir and the teacher bring home $50,000 in labor income next year, they would pay the same amount in federal taxes, despite their vastly different circumstances. Increasing income taxes won’t address this problem.” 

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Sen. Elizabeth Warren, D-Mass., attends a Senate Armed Services Committee hearing in Dirksen Building titled 'Foreign Cyber Threats to the United States,' featuring testimony by Director of National Intelligence James Clapper and others, January 5, 2016.

(Photo By Tom Williams/CQ Roll Call)

Senate Armed Services Committee members (L-R) Sen. Martin Heinrich (D - NM), Sen. Elizabeth Warren (D-MA) and Sen. Gary Peters (D-MI) talk during a hearing in the Dirksen Senate Office Building on Capitol Hill January 5, 2017 in Washington, DC. The intelligence chiefs testified to the committee about cyber threats to the United States and fielded questions about effects of Russian government hacking on the 2016 presidential election.

(Photo by Chip Somodevilla/Getty Images)

Senate Armed Services Committee Chairman John McCain (R-AZ) (L) and Sen. Elizabeth Warren (D-MA) arrive for a hearing with the Director of National Intelligence and National Security Agency chief in the Dirksen Senate Office Building on Capitol Hill January 5, 2017 in Washington, DC. The intelligence chiefs testified to the committee about cyber threats to the United States and fielded questions about effects of Russian government hacking on the 2016 presidential election.

(Photo by Chip Somodevilla/Getty Images)

Democratic Nominee for President of the United States former Secretary of State Hillary Clinton, accompanied by Senator Elizabeth Warren (D-MA), speaks to and meets New England voters during a rally at Saint Anselm College in Manchester, New Hampshire on Monday October 24, 2016.

(Photo by Melina Mara/The Washington Post via Getty Images)

Mark Wahlberg, Former Boston Police Commissioner Ed Davis, Boston Police Commissioner Billy Evans, Former Boston Red Sox player David Ortiz, Dun 'Danny' Meng, Jessica Downes, Patrick Downes, Senator Elizabeth Warren, director Peter Berg and Harvard Law professor Bruce Mann pose on the red carpet at the 'Patriots Day' screening at the Boch Center Wang Theatre on December 14, 2016 in Boston, Massachusetts.

(Photo by Natasha Moustache/WireImage)

Democratic Nominee for President of the United States former Secretary of State Hillary Clinton, accompanied by Senator Elizabeth Warren (D-MA), speaks to and meets New England voters during a rally at Saint Anselm College in Manchester, New Hampshire on Monday October 24, 2016.

(Photo by Melina Mara/The Washington Post via Getty Images)

Former Red Sox player David Ortiz talks with Senator Elizabeth Warren at the 'Patriots Day' screening at the Boch Center Wang Theatre on December 14, 2016 in Boston, Massachusetts.

(Photo by Natasha Moustache/WireImage)

Democratic presidential nominee Hillary Clinton and Senator Elizabeth Warren hold a rally at St. Anselm College in Manchester, NH on Oct. 24, 2016.

(Photo by Suzanne Kreiter/The Boston Globe via Getty Images)

U.S. Senator Elizabeth Warren speaks at a Manchester 'New Hampshire Together' Canvass Launch event in Manchester, NH on Sept. 24, 2016.

(Photo by Craig F. Walker/The Boston Globe via Getty Images)

Senior United States Senator from Massachusetts, Elizabeth Warren speaks onstage at EMILY's List Breaking Through 2016 at the Democratic National Convention at Kimmel Center for the Performing Arts on July 27, 2016 in Philadelphia, Pennsylvania.

(Photo by Paul Zimmerman/Getty Images For EMILY's List)

US Senator Elizabeth Warren, Democrat of Massachusetts, holds up copies of Wells Fargo earnings call transcripts as she questions John Stumpf, chairman and CEO of Wells Fargo, as he testifies about the unauthorized opening of accounts by Wells Fargo during a Senate Banking, Housing and Urban Affairs Committee hearing on Capitol Hill in Washington, DC, September 20, 2016.

(SAUL LOEB/AFP/Getty Images)

Sen. Elizabeth Warren (D-MA) along with members of the Democratic Women of the Senate acknowledge the crowd on the fourth day of the Democratic National Convention at the Wells Fargo Center, July 28, 2016 in Philadelphia, Pennsylvania. Democratic presidential candidate Hillary Clinton received the number of votes needed to secure the party's nomination. An estimated 50,000 people are expected in Philadelphia, including hundreds of protesters and members of the media. The four-day Democratic National Convention kicked off July 25.

(Photo by Jessica Kourkounis/Getty Images)

Sen. Elizabeth Warren (D-MA) delivers remarks on the first day of the Democratic National Convention at the Wells Fargo Center, July 25, 2016 in Philadelphia, Pennsylvania. An estimated 50,000 people are expected in Philadelphia, including hundreds of protesters and members of the media. The four-day Democratic National Convention kicked off July 25.

(Photo by Alex Wong/Getty Images)

Representative Joseph P. Kennedy III welcomes Massachusetts Senator Elizabeth Warren on stage on Day 1 of the Democratic National Convention at the Wells Fargo Center in Philadelphia, Pennsylvania, July 25, 2016.

(BRENDAN SMIALOWSKI/AFP/Getty Images)

Former Secretary of State Hillary Clinton accompanied by Senator Elizabeth Warren (D-MA) speaks to and meets Ohio voters during a rally at the Cincinnati Museum Center at Union Terminal in Cincinnati, Ohio on Monday, June 27, 2016.

(Photo by Melina Mara/The Washington Post via Getty Images)

The Late Show with Stephen Colbert airing live, Thursday July 21, 2016 in New York. With guest Elizabeth Warren .

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Sen. Elizabeth Warren (D-MA) arrives in the Capitol for the on Tuesday, June 28, 2016.

(Photo By Bill Clark/CQ Roll Call)

U.S. Sen. Elizabeth Warren (D-MA) (R) meets with Supreme Court nominee Merrick Garland (L), chief judge of the D.C. Circuit Court, April 14, 2016 on Capitol Hill in Washington, DC. Garland continued to place visits to Senate members after he was nominated by President Barack Obama to succeed the late Justice Antonin Scalia.

(Photo by Alex Wong/Getty Images)

Senator Elizabeth Warren, a Democrat from Massachusetts, listens as Janet Yellen, chair of the U.S. Federal Reserve, testifies during a Senate Banking Committee hearing in Washington, D.C., U.S., on Tuesday, June 21, 2016. Yellen offered a subtle change to her outlook from less than a week ago, saying she and her colleagues were on watch for whether, rather than when, the U.S. economy would show clear signs of improvement.

(Photographer: Pete Marovich/Bloomberg via Getty Images)

Sen. Elizabeth Warren, D-Mass., greets guests during a rally on the east lawn of the Capitol to urge Senate Minority Leader Mitch McConnell, R-Ky., to hold a vote on the 'Seniors and Veterans Emergency Benefits Act,' March 9, 2016. The legislation would provide a one time payment to seniors, veterans and other SSI recipients who will not get a cost-of-living adjustment this year.

(Photo By Tom Williams/CQ Roll Call)

Senators Bob Corker (L) and Elizabeth Warren (R) speak before a Senate Banking Committee on the semiannual monetary report to Congress hearing in Washington, USA on February 11, 2016.

(Photo by Samuel Corum/Anadolu Agency/Getty Images)

Senator Elizabeth Warren (D-MA), talks with Rep. Elijah Cummings (D-MD) in the House chamber prior to President Obama's State of the Union speech on Capitol Hill in Washington, February 12, 2013.

(REUTERS/Charles Dharapak/Pool)

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Yet, many billionaires have come out against Warren’s plan, including Dimon, Gates, Mark Cuban, and Leon Cooperman. 

One notable billionaire — Warren Buffett — has voiced support for a sort of wealth tax in the past.

“My friends and I have been coddled long enough by a billionaire-friendly Congress,” he wrote in a 2011 op-ed for the New York Times. “It’s time for our government to get serious about shared sacrifice.”

Adriana is an associate editor for Yahoo Finance. Follow her on Twitter @adrianambells.

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