Tax The Rich Foolishness

The theater kids who have taken over the Democratic Party have brought to the forefront the long-held proposition of the left to tax the rich to pay for a utopian future. Even before the DSA surge, the party insisted there is plenty of money out there, all the government had to do was grab it and problems would be solved. It’s nonsense of course. An even more draconian tax structure than the one we have now wouldn’t fund the federal government for even a year.

Washington, now facing a $40 trillion debt, spent more than $7 trillion in fiscal 2025, doling out an average of almost $21,000 per person. Democrats have always argued that if they could just tax the rich hard enough, they could erase all of society’s ills while eliminating deficits and debt. Either they know better and can’t help but lie, which is an organizational foundation of communism, or their math is below grade-school level.

Using IRS data to make its case, the Cato Institute says that if the federal government in 2023 “had confiscated every dollar earned over half a million dollars, it still would have run a budget deficit.”