March 13, 2024

The Nation: Biden Should Channel His Inner FDR and Soak the Rich

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There’s no risk and everything to gain politically. According to a Navigator Research poll from last month, 79 percent of registered voters favor higher taxes on billionaires and corporations. Only 16 percent are opposed. Democrats favor wealth taxes on billionaires by a 94-2 margin, independents by a 78-15 margin, Republicans by a 63-30 margin.

“Taxing the rich is extremely popular,” says Amy Hanauer, the executive director of the Institute on Taxation and Economic Policy. “It’s both good policy and good politics.”

FDR knew that. And so, it appears, does Joe Biden.

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