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In dueling campaign rallies, former Vice President Joe Biden and President Trump made their argument to voters in Iowa. Biden joined his Democratic opponents in calling for higher capital gains taxes to pay for his pet programs.
Democrats are racing to the left in a desperate attempt to mollify their radicalized base. Almost every 2020 Democratic presidential candidate is abandoning capitalism.
Sen. Elizabeth Warren, D-Mass., who has said she is a "capitalist to my bones," sings the same chorus with her massive wealth tax plan. Her campaign estimates that it would cost the American people $3 trillion over 10 years.
Taxing the rich is never the answer, and it’s proven to bring in far less revenue than one may optimistically estimate due to many factors.