44% of Americans believe they can achieve billionaire status

Michael Bloomberg, (right) founder of Bloomberg LP, and Lloyd Blankfein, Chairman and CEO of Goldman Sachs Group, at the 10,000 Small Businesses (1OKSB) partnership event in London on December 14, 2016.

Chris Ratcliffe | Bloomberg | Getty Images

Mixed feelings about extreme wealth

At the same time, most Americans have a love-hate relationship with extreme wealth.

“There’s an increasing disconnect,” noted the Harris Report: Six out of 10 adults want to be billionaires one day. Meanwhile, 40% said they despise billionaires. Many also said that billionaires have a responsibility to make society better, but they are not doing enough.

As the rich get richer, 66% of adults consider wealth inequality a serious national problem, and nearly half of Americans, or 47%, believe there should be a limit to wealth accumulation, according to the report.

Taxing the ultra-rich is gaining support

“Right now, the average billionaire — there’s about 790 of them in America — has an 8% federal tax rate,” Biden said tweeted.

The “Billionaire Minimum Income Tax” would provide a minimum tax rate of 20% for US households valued more than $100 million. More than half of the revenue could come from companies valued at more than $1 billion.

But despite growing public support for higher taxes on the ultra-rich, the billionaire tax proposals have not caught on.

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