I have repeatedly pointed out that opponents of entitlement reform support big tax increases. And, as I explain in this segment from a recent presentation, they specifically support tax increases on lower-income and middle-class households.
Why do I assert that they support higher taxes on ordinary people? For the simple reason that there are not enough rich people to finance big government.
So this means, inevitably, that they support higher taxes on the rest of us (they probably support lots of debt-financed spending and central bank-financed spending as well).
Depending on where and how I make this argument, some people accuse me of being anti-Trump. Or anti-Biden.
Actually, I’m pro-math.
And there are some folks on the left who also understand this reality.
I’ve disagreed with many of her columns in the Washington Post, but Catherine Rampell deserves credit for honesty because her most-recent piece tells the truth about who will pay higher taxes as the burden of government increases. Here are some excerpts.
Democrats…wish to expand the social safety net, however, which requires — you guessed it! — more tax revenue. Democrats…claim…that all those safety-net expansions can be paid for solely by soaking “the rich.” …Alas, there’s not remotely enough money on those would-be money trees to pay for all the things that Democrats want. Or even the things that past Congresses have already committed to: Recall that the United States already has large fiscal deficits in the years ahead, even without creating new programs. …By all means, raise taxes on the ultrawealthy. …But if we really want a more robust welfare state, or even to sustain the welfare state we’ve already promised, that probably requires higher taxes from most of the rest of us, too.
At this point, I normally would state that Ms. Rampell deserves membership in my club of honest liberals. But she already is a member, thanks to a column she wrote two years ago.
I’ll close with the should-be-obvious point that any tax increases would be a bad idea, whether imposed on upper-income households or anybody else.
Which is why sensible people should resuscitate support for genuine entitlement reform.
