Does the new outlook.com support tags in addition to hierarchical folders? This is what I love about GMail. Plus, I generally hate the way the MS WYSIWYG editor

Does the new outlook.com support tags in addition to hierarchical folders? This is what I love about GMail. Plus, I generally hate the way the MS WYSIWYG editor has a live of its own and makes quoting of passages from received emails into multi-font nightmares.