Has there ever been a more hollow political promise than Joe Biden’s vow not to raise taxes on anybody making less than $400,000 a year?
During his State of the Union address Tuesday, the president reiterated this vow while proposing a new tax on the very wealthy to ensure they pay their “fair share.” Never mind that the top 1% of all wage earners account for more than 42% of all federal income tax collections.
This is a cut-and-paste off Page 1 of “The Dummy’s Guide to Democratic Talking Points,” yet it is remarkable that progressives get away with leaving their amorphous definition of “fair share” simply floating in the air. Would it be fair if Washington took 50% of all your earnings? Seventy-five percent? What would be “fair”?
