A brash political candidate forms a presidential exploratory committee. Almost immediately, the candidate announces a controversial policy: a wealth tax on the ultrarich.
Just 1 1/2 pages long, the proposal is met with some cheers but lots of jeers — about its constitutionality, feasibility, fairness. Right-wing pundits bemoan the appeal to class warfare.
Everything old is new again. Last week, Sen. Elizabeth Warren, D-Mass., now exploring a presidential run, proposed her own wealth tax. Warren’s proposal is constructed differently than Trump’s was — his was a one-time levy, hers is annual — but the reception has been similar.