Why Democrats are getting bolder on tax hikes
As President Joe Biden works to sell his massive infrastructure bill, he’s making a big bet that tax hikes, which would pay for much of the plan, are no longer a political liability for Democrats.
After decades in which Democrats often tried to avoid being labeled a “tax and spend” party, Mr. Biden’s own pollster is urging him to publicly embrace certain tax increases rather than justifying them as a necessary evil, citing surveys that show that a majority of Americans support raising taxes on corporations and wealthy people – and have for years.
Many Democrats believe the pandemic’s impact on economic inequality, including boosting the fortunes of big companies like Amazon at the expense of small businesses and individuals, has given Mr. Biden an opening to press the argument. He’s proposing to fund nearly all of his $2.25 trillion infrastructure and jobs plan – which goes far beyond repairing roads and bridges to include investments in “human infrastructure” – by raising taxes on corporations.
The White House estimates it could raise
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