Sanders, Warren Compete for Who Can Tax Billionaires the Most

Senator Elizabeth Warren’s wealth tax proposal is big. Senator Bernie Sanders’ is about 60% bigger.

Sanders’ plan for a wealth tax attaches his name to one of the most salient tax ideas in Democratic circles that Warren, one of his main presidential primary opponents, has popularized.

Elizabeth Warren in Des Moines, Iowa on Sept. 21.

Photographer: Daniel Acker/Bloomberg

Struggling to maintain his top-three position in voter preference polls, Sanders follows Warren in proposing a tax that has becoming a popular rallying cry of “2 cents” during her campaign speeches. The cries refer to the 2% levy that would kick in on the assets of fortunes worth more than $50 ...