Daily Tax Report ®

How Trump’s Could-Be Rivals Aim to Hit the Super-Rich: QuickTake

Feb. 20, 2019, 10:21 AM

As U.S. Democrats lay the foundation of their bid to unseat President Donald Trump in 2020, raising taxes on the rich is emerging as a central theme for a party being pulled to the left by its invigorated self-described progressive wing. Ideas include a “wealth tax” on assets, much higher income tax rates on the biggest earners and a new tax on financial trades, all in the name of raising more money for new government programs while making a dent in rising inequality.

1. What are the proposals?

Massachusetts Senator Elizabeth Warren would put a 2 percent annual tax on...

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