It’s simple to mock Democrats like Joe Biden, Alexandria Ocasio-Cortez, and Bernie Sanders. One reason they’re easy targets is they want people to believe that America can finance a European-style welfare state with higher taxes on the rich.
That’s nonsensical. Simply stated, there are not enough rich people and they don’t earn enough money (and they have relatively easy ways of protecting themselves if their tax rates are increased).
Some folks on the left admit this is true. I’ve shared many examples of big-government proponents who openly acknowledge that lower-income and middle-class people will need to be pillaged as well.
- The editors at the New York Times endorsed higher taxes on the middle class in 2010.
- The then-House Majority Leader Steny Hoyer also gave a green light that year to higher taxes on the middle class.
- In 2012, MIT professor and former IMF official…
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