The Guardian | Never before in American history have so few had so much wealth and power. Today, the top one per cent owns more wealth than the bottom 93%. One man, Elon Musk, worth $805bn, owns more wealth than the bottom 53% of American households.

And that inequality is getting worse. Last year alone, after receiving the largest tax break in history from Donald Trump, 938 billionaires in America became $1.5tn richer. Since he was elected, President Trump and his family have become $4bn richer.

We need a 5% wealth tax on America’s 938 billionaires. Over a 10-year period, this bill would raise much-needed $4.4tn for public coffers.

Source: The Guardian.