Billionaire Wealth Has Doubled So Far This Decade

Inequality has boomed so much in the 2020s that a 2 percent wealth tax on multimillionaires initially introduced in 2021 would yield more than twice as much revenue today.

The analysis, from University of California, Berkeley, economists Emmanuel Saez and Gabriel Zucman, reveals the incredible volume of capital income, currently not reached by the U.S. tax code, and could prove vital for the ongoing debate about taxes that has taken over the Democratic Party in recent weeks.

On Thursday, Sen.