Agree with everything this article says.
Still, I am all in favor of Democrats embracing a wealth tax.
Until Warren, wealthy liberals who already made their money (Bezos, Gates, Buffet) could support the Democrats and tut-tut about the fact that the wealthy should pay more, because the Democrats were only talking about income taxes, which are taxes on people trying to get wealthy.
Buffet and co could pretend they were so magnanimous they were willing to pay higher taxes, but actually they don’t need income, they already have their wealth. If the income tx were 100% it would merely freeze them in place as the richest Americans and prevent anyone from ever catching up to them.
Wealth taxes change the game, and have to cause them to think twice about supporting the Democratic assault on success.
I contend that’s exactly why Bloomberg got into the race: to get the leading Democrat contenders to stop their “wealth tax” rhetoric. He doesn’t want/expect to win, he just wants a position to cripple them if they continue pushing that point.