The president's budget is the lawmaking equivalent of a vision board or a mission statement: a moderately delusional wish list that is intended to provide motivation. The president's budget is never legally binding—Congress still retains some tenuous grip on the purse strings—but it is always instructive.
President Joe Biden has long been, in the immortal words of Editor at Large Matt Welch, a rusty weather vane, creaking reluctantly in the direction that the winds of his party blow. With his new budget proposal, the breezes have finally brought us to the shores of a serious wealth tax debate.
