...spread over 801 total billionaires. If we tax each of them 5% on their wealth over $1 billion we will net maybe $360 billion.

The resultant disruption in the stock market will bring the DOW and NASDAQ down by at least twice that, in my opinion, costing retirees over a half trillion in 401ks and costing other retirement funds at least that much.

I believe that a wealth tax on billionaires will turn out to be a huge tax on retirees and retirement funds. The loss on 401k accounts will translate to a huge loss on potential tax collections also.

Oh, and BTW, that $360 billion won't cover a fourth of the interest on our huge national debt.