Dem NY Gubernatorial Candidate Stumped By Taxes
Article from Reason by Christian Britschgi.
On Wednesday, the former Sex and the City actress and New York gubernatorial candidate sat down with the New York Daily Newseditorial board to discuss the finer points of her sweeping, progressive policy agenda, which includes spending billions more on education, transit, and healthcare.
To pay for all these policies, Nixon is looking at soaking the rich. Her #fixthesubway plan would rely in part on a millionaire’s tax. The Medicare-for-all bill Nixon’s endorsed would require high income earners and their employers to spend thousands more on healthcare than they currently do. And her $7.4 billion education plan? Fat cats will be on the hook for that one, too.
For someone who has made squeezing more money out of high income earners the lynchpin of her progressive campaign, this is a shocking and telling display of ignorance. It reveals an unfounded belief—not uncommon among many on the progressive left—that all that is needed to erect a Nordic-style social welfare system is higher and more progressive income taxes.
Yet, the fact is paying for expansive healthcare and educational benefits for everyone requires taxing everyone, not just a small but wealthy slice of corporations and high-income earners. Indeed, countries like the Denmark and Sweden manage to pay for their welfare states only through higher rates of taxation applied to a very broad base of people.
Read the entire article at Reason.
Image Credit: By Freedom To Marry [CC BY 2.0 (https://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons