By: Carter Coudriet
A 70% marginal tax rate. A 77% estate tax. A 3% tax on every dollar over $1 billion of net worth. As various plans to tax the ultra-rich gain steam in American political discourse—and after a recent bombshell report that the 400 richest Americans paid a lower tax rate than other income groups last year—many billionaires have been challenged to address their very existence amid growing income inequality.
At least a dozen billionaires have made public statements that call for the super-rich to pay more in taxes. On Monday, Salesforce chairman and cofounder Marc Benioff penned the latest in a string of billionaire op-eds calling for higher taxes on the wealthy. The California software entrepreneur, who ranked No. 93 on The Forbes 400 list of richest Americans released earlier this month, wrote that “increasing taxes on high-income individuals like myself would help generate the trillions of dollars that we desperately need to improve education and health care and fight climate change.”