A group of billionaires have shocked lawmakers in the US by calling on the 2020 US presidential election candidates to raise the taxes for the super rich.

An open letter signed by 19 of the 'richest 1/10 of the richest 1% of Americans' calls for the creation a wealth tax on them and their peers.

The Left-wing financier George Soros, Facebook co-founder Chris Hughes and heiress Abigail Disney are among signatories.

The move has been met with shock and condemnation. Conservatives said the billionaires could simply write a big check to the taxman without the need for any new legislation.

A group of billionaires in the US including George Soros (pictured) have been condemned for backing a wealth tax on the super-rich

The letter calls for an increase in taxes on the wealthy to fund new investment in sectors including clean energy, universal childcare, student loan debt relief, improvements in infrastructure, and tax relief for low-income families.

It says: 'America has a moral, ethical and economic responsibility to tax our wealth more.

'A wealth tax could help address the climate crisis, improve the economy, improve health outcomes, fairly create opportunity, and strengthen our democratic freedoms.

'Instituting a wealth tax is in the interest of our republic.'

Heiress Abigail Diney (left), Sean Eldridge, (center) and Chris Hughes (right) are among the signatories

Describing the proposed wealth tax as 'patriotic', the letter continues: 'In our republic, it is the patriotic duty of all Americans to contribute what they can to the success of the country, and the wealthiest are no exception.

'Others have put far more on the line for America. Those of us in the richest 1/10 of the richest 1% should be proud to pay a bit more of our fortune forward to America’s future.

'We’ll be fine — taking on this tax is the least we can do to strengthen the country we love.'

2020 presidential candidate Elizabeth Warren, who was called for a wealth tax, with billionaire Nick Hanauer, who is among the signatories

The letter describes itself as 'nonpartisan' and not 'an endorsement of any presidential candidate,' though it lists Senator Elizabeth Warren, Mayor Pete Buttigieg and Representatives Beto O'Rourke and Tim Ryan as candidates who have already supported a wealth tax.

In particular, they cite Warren's proposed policy – which would tax 75,000 of the wealthiest families in the country at a 2% rate – as a model for a policy that they endorse.

They add: 'That a moderate tax on a minuscule number of Americans could raise so much revenue simply reflects historic levels of wealth among America’s richest.'

Conservative commentator Laura Ingraham tweeted: 'If these billionaires think they pay too little in taxes, why not just send more money to the IRS?'

Signatories to the letter include: Louise J. Bowditch, Robert S. Bowditch, Abigail Disney, Sean Eldridge, Stephen R. English, Agnes Gund, Catherine Gund, Nick Hanauer, Arnold Hiatt, Chris Hughes, Molly Munger, Regan Pritzker, Justin Rosenstein, Stephen M.Silberstein, Ian T. Simmons, Liesel Pritzker Simmons, Alexander Soros, George Soros, and Anonymous.

The billionaires argue that they are in favor of the tax for 'six key reasons'.

A Wealth Tax is a powerful tool for solving the climate crisis, it's an economic winner for America, it will make Americans healthier, it's fairer, the tax would strengthen freedom and democracy and it's a patriotic act.

It is estimated the tax could generate nearly $3 trillion in revenue over 10 years.

The conscience-stricken billionaires suggest the tax be imposed on the richest 0.1 percent of Americans.

In response, conservative commentator and Fox News host Laura Ingraham tweeted: 'If these billionaires think they pay too little in taxes, why not just send more money to the IRS?'