Daily Tax Report ®

Democrats Worried Over Wealth Tax Design Other Plans to Tax Rich

Nov. 8, 2019, 9:00 AM

Some Democrats in Congress are crafting viable alternatives to Elizabeth Warren’s wealth tax, amid increasing concerns that her soak-the-rich strategy won’t pass even if the party captures both chambers of Congress in 2020.

With growing confidence that they could win the White House and Senate in 2020 and maintain their House majority in 2020, Democrats are devising ideas that could raise trillions of dollars from the wealthy without the technical and constitutional challenges of Warren’s wealth tax, which Bernie Sanders, her rival on the party’s left flank, has also embraced.

Warren, who had already proposed a series of...

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