Putting all political stuff aside because that really isn't what the platform is about, I don't mind speaking on this from an investing standpoint.
They are planning to tax banks 18% instead of 15% on profits over $1B. So, for a Bull List stock like Equitable Bank for example, this is a non-factor. For the big banks, however, it does pose an issue, but one that I feel will be short-term in nature.
I cannot imagine these banks don't find a way, whether it be through raising the price of particular products or increasing fees for consumers, to make up the profit windfall. The government will tax the banks, the banks will raise prices to make up that tax, and ultimately the consumer will front the bill.
In the end it simply leaves less money in the consumers hands and more in the banks/government. So, I agree with you on that end, I don't think it will work.
In the short term, we might see a slowing of dividend growth from the banks. But, I have absolutely zero intentions of selling off any of my positions. These are some of the best managed companies in the country.