Democratic contenders hoping to run on soaking the rich

WASHINGTON (AP) — The last Democrat to win a presidential election, Barack Obama, ran in 2012 on a platform of raising taxes for top earners to nearly 40 percent. Now a new crop of Democratic presidential hopefuls is signaling that they want to go even further.

Massachusetts Sen. Elizabeth Warren is floating a 2 percent tax on all assets of people with a net worth of more than $50 million — a moon-shot plan that could face legal challenges for hitting investments, homes and cars, not just income. Vermont Sen. Bernie Sanders is pitching a steeply higher inheritance tax on large estates.

Others targeting higher income earners include California Sen.