‘Tax the rich’? Democrats’ plans to make the wealthy pay a little more will barely dent America’s long slide from progressive taxation

  Demanding tax increases on the rich is back in fashion – both in the corridors of the House of Representatives and on the red carpet of the Met Gala.

  The House Ways and Means Committee outlined plans on Sept. 13, 2021, to move the top marginal income rate up a couple of notches to 39.6% and to introduce a 3% surtax on incomes above $5 million. That proposal would fall short of calls to really “tax the rich,” as Rep. Alexandria Ocasio-Cortez’s dress demanded at a glitzy New York bash just hours later.

Hank Sanders: Sketches #1676 - We should all be frightened

  “If you are not happy here, you can leave.” These words were a slap in my face. “So interesting to see progressive Democrat Congresswomen, who originally came from countries whose governments are a complete and total catastrophe, the worse, most corrupt and inept anywhere in the world (If they even have a functioning government at all . . . )”  These words pierced my being. These words came from the President of the United States of America.

  "Go back to Africa!" These words have been spit in my face. I even observed these words written on signs shown on television and directed at President Barack Obama. Send her back! Send her back! Send her back! These words were shouted en masse at a Trump rally. I was frightened in the deepest core of my being. I was frightened for these four women. I was frightened for people of color. I was frightened for this country.

So you want to tax the rich: A how-to guide

  Taxing the rich has been a hot subject of late thanks to a few Congressional Democrats. First, New York Rep. Alexandria Ocasio-Cortez floated the idea of raising the top marginal income tax rate to 70 percent. Then Massachusetts Sen. Elizabeth Warren proposed a “wealth tax” on those who have at least $50 million in assets. And last week, Vermont Sen. Bernie Sanders proposed increasing the estate tax for those who inherit more than $3.5 million.

  These ideas have been met with predictable consternation from conservatives. CEOs and Wall Street-types gathered at the annual World Economic Forum in Davos even had a good laugh when asked about Ocasio-Cortez’s idea.

  But raising taxes on the rich isn’t a joke. It’s an economic necessity.