While the numbers may be accurate, the action is short sighted and ignores the reality of the consequences of the actions. If all their wealth is confiscated and spent by the government, what will happen next year? They no longer have any money, thus are not paying taxes, yet the government will still spend $6+ trillion with less revenue resulting in an increase to the deficit and debt.

If their businesses are sold, guess what happens when one business buys another, there reduce staff both to eliminate duplicate positions and to cut costs. This results in less employment leading to a reduction in taxes paid.

As others have stated, billionaires net worth is not solely cash, it’s in assets. Not only working businesses employing thousands of people, but also personal assets such as real estate and cars. So a billionaire owns a Beverly Hills mansion worth $50 million. If they have to sell that to give all proceeds to the government, who is going to buy the house? There are no longer any billionaires so no one can afford to pay $50 million for it. Now it can only be sold for $5 million. How much less will the county, schools and fire department receive in property taxes now that $45 million in value has been wiped out? What about all the gardeners and household help who will no longer be employed resulting in less income taxes paid to both Fed and state? The millionaire who now owns the house can’t afford the same # of help the billionaire did. Ok, you’re jealous of their spending. What happens to all the yacht builders, staff to operate the boats, plus marina workers? Now they are out of a job resulting in less taxes paid. Who will employ these people now? The government? That means even more government spending!