Democrats' Proposed 'Billionaire Tax' Is Definitely a Wealth Tax, and It May Be Unconstitutional

President Joe Biden got himself elected partly by opposing the billionaires' wealth tax proposed during the primary campaign by Sens. Elizabeth Warren (D–Mass.) and Bernie Sanders (I–Vt.). Now, in a reversal, Biden is preparing to embrace the idea.

It wouldn't be the first time that a presidential candidate's plans changed after getting elected. The shamelessness of the way that Biden has shifted on the issue, though, is something else. It risks undercutting Biden's claim to being a voice of moderation. It also may reinforce voter cynicism. How's democracy supposed to...