The State Wealth-Tax Alliance - WSJ Opinion

Including federal levies, this means politicians would take half of every dollar in investment earnings. You take all the risk, the politicians get half the gain. The legislators say their plans will fund social spending, but they have a specific recipient in mind. The multistate launch was coordinated by Fund Our Future, an advocacy group affiliated with the American Federation of Teachers. As usual, public unions are pushing the progressive lawmakers they fund to tap new streams of tax revenue so they can get bigger salaries and pensions.

Taxing to share expenses is one thing; taxing out of envy is quite another.