Warren doesn't just frighten billionaires – she scares the whole establishment | Robert Reich

No wonder the wealth tax turns the Gray Lady white as a sheet: it will help the needy and its author is a good bet for president

On Thursday, the New York Times reported on a study showing that Elizabeth Warren's proposed wealth tax (and presumably Bernie Sanders' even more ambitious version) would reduce economic growth by nearly 0.2% a year, over the course of a decade.

Related: Elizabeth Warren rips into billionaires who oppose wealth tax in scathing ad

Warren has repeatedly argued that taxing the super rich is the fairest and most efficient way to pay for critical needs

Related: Elizabeth Warren helps out 'confused' billionaires with new tax calculator

Robert Reich, a former US secretary of labor, is professor of public policy at the University of California at Berkeley and the author of Saving Capitalism: For the Many, Not the Few and The Common Good. He is also a columnist for Guardian US