The Default Path for Taxes
For the median married taxpayer with two kids, the average effective tax rate (including both income and payroll taxes) rises from 20.0 to 37.6 percent. The marginal tax rate for this taxpayer rises from 30.3 to 50.3 percent.
In other words, to keep tax rates where they are would require, relative to current law, ginormous tax “cuts.” (And comparably ginormous spending cuts.)
The proponents of huge government do not need to enact a revolution. All they have to do is preserve the status quo.
Meanwhile, Brink Lindsey writes,
hopes for a grand new era of progressive activism and the long-delayed arrival of something like European social democracy are confronted by formidable obstacles.
I think he is on crack.