Scoop: Bernie Sanders one-ups Warren with his own wealth tax

Details: A wealth tax is applied not to what people earn but what they own, including stocks and land.

• The Sanders campaign said it would apply taxes on households with net worths above $32 million and raise an estimated $4.35 trillion over the next 10 years, which would be used to fund Sanders' affordable housing, universal child care and Medicare for All plans.
• Warren's plan, which applies to households with a net worth over $50 million, proposes an annual 2% tax on assets above a taxpayer's first $50 million, and 3% on assets that exceed $1 billion.

Yes, but: Both candidates may be unable to even attempt to impose their wealth tax plans if the Supreme Court strikes it down.

• Both proposals revive an aspect of constitutional law that stems from the Constitution’s ban of direct taxes.
• The Supreme Court in 1895 ruled that a wealth tax is a direct tax and is unconstitutional, but the American Bar Association has argued that a tax on the wealthy is constitutional.

Go deeper: Bernie Sanders' plan to restructure your life