The Washington Post reports that this year’s crop of Democratic candidates have thrown off the shackles that have burdened their party’s candidates ever since Walter Mondale ran on a tax-raising platform, and are openly vowing to increase income taxes if elected.
The conventional wisdom is that this favors Republicans, and on balance that’s probably true. But with every tax cut, as well as every tax increase, the income tax code has gotten more progressive, so that the top 10% of taxpayers are now paying a large majority of all income taxes. This creates a dangerous situation, in which more and more voters, knowing that they get more or less a free ride on income taxes, are happy to vote for higher taxes on “the rich.” It will be interesting to see whether the tax issue actually favors Republicans next year.
- Subscribe now!... Get rid of ADs!Support Power Line...VIP MembershipPresentsPower Line
2016 Power Line Picks
Most Read on Power Line
- There's something about Hillary's health
- How's the Coverup Going, Hillary?
- Our under-incarceration problem, Charlotte edition
- Meet the black Charlotte police officer who shot Keith Lamont Scott
- Mark Cuban and Gennifer Flowers to Square Off at Monday's Debate? [with comment by Paul]
- Statesmanship: Obama versus Bibi
Subscribe to Power Line by Email
Find us on Facebook
“Arise and take our stand for freedom as in the olden time.” Winston Churchill
“Proclaim Liberty throughout All the land unto All the Inhabitants Thereof.” Inscription on the Liberty Bell