Joe Biden's move to support a possibly unconstitutional wealth tax—or what some Democrats claim isn't a wealth tax but merely a tax on unrealized capital gains—is the topic of my column this week. Please read the full column at Newsmax ("Biden-Wyden Wealth Tax Would Break Campaign Pledge, Run Afoul of Constitution"), at Reason ("Democrats' Proposed 'Billionaire Tax' Is Definitely a Wealth Tax, and It May Be Unconstitutional"), and at the New York Sun ("Biden-Widen Wealth Tax Would Break Campaign Pledge, Run Afoul of Constitution.") The column also got some nice pickup in the New York Post ("Democrats' new tax problems and other commentary") and RealClearMarkets.
Joe Biden, during his presidential campaign, told wealthy donors he wasn't planning to punish them. He opposed plans by Senator Sanders and Senator Warren for a wealth tax.