Editing tags on multiple items

Is there an easy way to edit tags for multiple items at once? At the moment, it seems like I can only select multiple items and then drag them across to one tag at time. When you need to add any more than two tags, this is incredibly slow.

Ideally I'd love to be able to select multiple items then simply right-click and add/edit the tags for those items. It simply needs to show a popup with a list of tags along with a checkbox for each. You then simply check the tags you want to apply to your selected items and then click Confirm. This would be so much easier than having to drag items across to a tag, one at a time.