Tax the rich or discipline government?
Wherever you look in American politics right now, you’ll find legislators saying the government still doesn’t tax enough -- especially when it comes to the wealthy. California progressives are pursuing a wealth tax on billionaires, advertised as a method to raise $100 billion in a single stroke. New York City Mayor Zohran Mamdani is pushing for sweeping new taxes on the wealthy to fund a vast expansion of city services. And Washington state politicians are treating a preventable budget problem as a failure to sufficiently tax corporations and the rich. The same is true on the ...