There is a proposition on the California ballot this year to impose a one-time tax for billionaires. The result would be a 5% tax on their net worth, which includes investments. For New York Times Magazine, Nicholas Konrad illustrates the scale of this tax on 250 individuals in the context of their wealth, the taxes they typically pay, and their spending to oppose.
For us regular people, one billion dollars is difficult to imagine, so the transitions between tiny and giant circles provide a sense of how big these numbers are. By absolute counts, the tax dollars are a lot, but by percentage, the tax rate doesn’t seem like that much all things considered.
Tags: billionaires, California, New York Times, Nicholas Konrad, scale, taxes
