The millionaire surtax idea comes to N.C.

It will not pass here anytime soon, but conservatives should still explain why it backfires.

In today’s populist political environment, millionaires are particularly easy to pick on and tough to defend.

That is why you are seeing a wave of blue states impose special tax burdens on people with high incomes, often at $1 million or more. Massachusetts, New York and New Jersey have all gone that route already, and the state of Washington just enacted a 9.9% tax on income above $1 million. Michigan and Illinois lawmakers are considering doing something similar.

Now progressive activists are trying to bring the idea to North Carolina.

Last week, the group Patriotic Millionaires came to Raleigh to promote a 7% tax rate on income above $1 million, with the money raised to be dedicated to public schools. They even got a handful of Democrats to file a bill to that effect.

There’s zero chance it will gain any traction, but I still think the idea is worth discussing. Because there are plenty of good reasons to oppose such a tax policy, even if you have no particular affection for the rich.

I…