“What if in the tax code we did a better job of breaking down that accumulated wealth, of taxing it so it is not producing the greatest income and wealth inequality that we’ve seen in our lifetimes, unseen since the Gilded Age of the 19th century?” O’Rourke said after noting the wealth gap between black and white America. “What if we decided that we would use the proceeds to invest in people, in education?”

O’Rourke’s position is not unique among Democratic presidential hopefuls. Sen. Elizabeth Warren of Massachusetts has proposed a 2 percent tax on people who earn over $50 million and a tax of 3 percent on assets worth over $3 billion, according to the news site.