Daily Tax Report ®

Why Tax-the-Rich Is Rallying Cry for Trump Opponents: QuickTake

Dec. 2, 2019, 8:37 PM

With U.S. Democrats jockeying to see who will challenge 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 progressivewing. 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?

They mainly fall into five categories:

  • START TAXING WEALTH, not just income. Massachusetts Senator...

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