It Is Arithmetically Impossible To Fund The Progressive Agenda By Taxing The Rich

It is arithmetically impossible to pay for progressive promises by “taxing the rich.”

Progressive promises are too expensive and the amount of income earned by the rich is too small.  Even using lower cost estimates, confiscating every dollar earned by every taxpayer with incomes of $200,000 or more would only pay for about 1/2 of the progressive agenda.  And that figure is based on the false assumption people would continue to work, save, and invest when subject to a 100% flat tax.

The reality is the progressive promises can only be funded by increasing taxes on the middle class from 3 to 10 times their current level or for a limited time, by dramatic and unsustainable increases in federal borrowing.