Wall Street Journal: Democrat Elizabeth Warren Proposes Wealth Tax

That is roughly 10 times the revenue that the current estate and gift taxes are projected to raise, but Ms. Warren’s “ultramillionaire-tax” proposal on the top 0.1% isn’t just about generating money to pay for government programs. It marks Democrats’ intense emphasis on inequality as the party tries to reclaim the White House in 2020.

The wealth-tax proposal drives the tax-policy conversation within the Democratic Party further to the left. Two progressive groups—the Washington Center for Equitable Growth and the Institute on Taxation and Economic Policy—released papers on wealth taxes this week. Read more