Try It Yourself

The wealth-tax calculator

See what a wealth tax would cost you, and how it compares to what you pay now. The interactive companion to the book.

What you own

Enter the part you own (your equity), not the full value. We have started you at a typical household. Change any number.

Your home's value minus your mortgage. Renters: leave at 0.
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Not sure? Work it out

Use your home's value (a Zillow or county-assessed figure is fine), then subtract what you still owe.

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Your equity: $0

Defer the tax on up to $500,000 of home equity. It becomes a note against the home at the Treasury rate plus 1% (about 5%), paid when you sell, refinance, or pass it on. No fees, no foreclosure.
401(k), 403(b), IRA, or pension balance.
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Checking, savings, brokerage, 529 college savings.
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Vehicles you own outright, art, collectibles, cryptocurrency.
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Add a vehicle with a loan, or a business
What your cars or boats are worth, minus any loan.
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Your share of a business you control, minus its debt.
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Not sure what your business is worth?

Pick the method that fits. Each is a standard way lenders and buyers value a business.

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Estimated equity: $0

A minority share or hard-to-sell shares take a 10 to 25 percent discount.

Total you own $0
Tax rate (advanced)

The book uses 4% for every example. The real rate is likely closer to 3% once foreign-controlled US assets are counted.

How this works

How the wealth tax is figured

Your wealth tax is the wealth you control times a single rate. That rate is the country's federal spending divided by all the wealth on the ledger. Using the book's conservative figures, $7 trillion of spending divided by $175 trillion of wealth, the rate is 4%.

The book uses 4% in every example. The real rate is likely closer to 3% once foreign-controlled US assets are counted in the total.

Why you are taxed on equity, not value

You are taxed only on the part you own. If your home is worth $400,000 and you owe $250,000, you are taxed on the $150,000 of equity. The lender holds the $250,000 of debt as their asset and pays the tax on that part. The same goes for a financed car or a business with debt.

What the wealth tax replaces

The wealth tax is not added on top of what you pay now. It replaces the federal income tax, payroll tax, self-employment tax, and the estate tax. For most households below roughly $1.5 to $2 million in wealth, that trade comes out in their favor.

The homeowner deferral

If paying the tax on your home would strain your budget, you can defer it on up to $500,000 of home equity. The deferred amount becomes a note against the home at the Treasury rate plus about 1% (around 5%), paid when you sell, refinance, or pass it on. No fees, no foreclosure.

Why "what you pay today" is an estimate

The "what you pay today" figure is a simplified estimate that matches the method used in the book, so the calculator and the book agree. It uses the real 2025 tax brackets, but it rounds a few details, so it will not match a full tax return. The Federal income tax tab lists exactly what is simplified.

Private by design. Everything is calculated in your browser. Nothing you type is sent anywhere, stored, or logged.

Disclaimer. This calculator is for educational, civic, and policy-discussion purposes only. It does not provide legal, tax, accounting, financial, or investment advice. The wealth tax is a proposal, not current law. Current-tax figures are simplified estimates and will not match a full return. Anyone making legal, tax, financial, or investment decisions should consult qualified professionals.