The Democrats’ fiscal policy makes a mockery of their progressive pledges
It is regressive and self-defeating
THE TAX plans of President Joe Biden were once full of lofty promises. He and Democrats in Congress would reverse Donald Trump’s tax cuts, make the wealthy pay more and fully fund all manner of desperately needed climate and social-policy programmes with the proceeds. The middle class would rise and the top 1% would manage. As the messy drafting of Mr Biden’s main spending bill—the Build Back Better Act—nears its conclusion after months of wheeling and dealing, it is clear that, when it comes to tax, the result is not lofty at all.
This article appeared in the Leaders section of the print edition under the headline “SALT in the wounds”
Leaders December 4th 2021
From the December 4th 2021 edition
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