The progressive push to raise taxes on the rich is gaining new momentum.
Sen. Elizabeth Warren (D-Mass.), who has already proposed a wealth tax to raise funds for a variety of new government programs, on Thursday unveiled a plan to expand Social Security by creating two taxes on wage and investment income for wealthy Americans.
The proposal comes as Warren enjoys a long stretch of momentum in the Democratic presidential primary race that has lifted her in polls and put her side-by-side with former Vice President Joe Biden during last week’s debate.
Separately, Sen. Ron Wyden (Ore.), the top Democrat on the Senate’s tax-writing committee, rolled out his own proposal designed to prevent the rich from avoiding taxes on their investment gains.
Since the start of the year, much of the debate around taxes among Democrats has been over how much and how best to raise taxes on the rich.