• Home
  • Illinois News
  • Illinois Politics
  • US Politics
  • US NEWS
  • America First
  • Opinion
  • World News
  • Second Amendment
Monday, July 14, 2025
Illinois Review
  • Login
  • Register
  • Home
  • Illinois News
  • Illinois Politics
  • US Politics
  • US NEWS
  • America First
  • Opinion
  • World News
  • Second Amendment
No Result
View All Result
  • Home
  • Illinois News
  • Illinois Politics
  • US Politics
  • US NEWS
  • America First
  • Opinion
  • World News
  • Second Amendment
No Result
View All Result
Illinois Review
No Result
View All Result
Home Illinois News

It Is Arithmetically Impossible to Fund the Progressive Agenda by Taxing the Rich

Illinois Review by Illinois Review
August 26, 2019
in Illinois News
Reading Time: 2 mins read
A A
2
26
SHARES
432
VIEWS
Share on FacebookShare on Twitter

Unnamed

You might also like

Opinion: The IL GOP Belongs to the People — Not to Power-Hungry Insiders

Economos: Illinois’ Pension Crisis – A Tale of Mismanagement

Mayor Johnson: Chicago ‘Police Dept. Will Not Ever Cooperate with ICE’

The cost of the progressive agenda exceeds what could be raised in taxes. David Burton writes:

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 half of the progressive agenda. And that figure is based on the false assumption that people would continue to work, save, and invest when subject to a 100 percent flat tax. The reality is that progressive promises can only be funded by radical tax increases on the middle class or, for a limited time, dramatic increases in federal borrowing.

Even in the fantasy world where all income of those earning $200,000 or more and all corporate profits were confiscated and yet those individuals and businesses continued to earn the same income, the progressive program still comes up $13.2 trillion to $57.8 trillion short. To fund the lower cost-estimate shortfall, it would be necessary to increase middle-income taxes by $13.2 trillion to three times their current level (an increase of 216 percent). To fund the higher cost-estimate shortfall, it would be necessary to increase middle-income taxes by $57.8 trillion to 10.5 times their current level (an increase of 948 percent). In the real world, the necessary middle-income tax increases would be radically more since the hypothetical $27 trillion from a 100 percent flat tax will never materialize. Only a small fraction of it can be raised from taxing high-income taxpayers.

[David Burton, “It Is Arithmetically Impossible to Fund the Progressive Agenda by Taxing the Rich,” The Heritage Foundation, August 14]

Related

Tags: Illinois Review
Share10Tweet7
Previous Post

The very liberal in America are different

Next Post

Do you trust the political news you’re getting?

Illinois Review

Illinois Review

Recommended For You

Opinion: The IL GOP Belongs to the People — Not to Power-Hungry Insiders

by Jacqueline Garretson
July 11, 2025
0
Opinion: The IL GOP Belongs to the People — Not to Power-Hungry Insiders

By Jacqueline Garretson, Opinion ContributorA few months ago, I had the opportunity to speak on a podcast where I shared my personal journey in politics, how I became...

Read moreDetails

Economos: Illinois’ Pension Crisis – A Tale of Mismanagement

by James P. Economos, DDS
July 8, 2025
0
Economos: Illinois’ Pension Crisis – A Tale of Mismanagement

By James P. Economos, DDS, Opinion Contributor There’s been constant debate over Illinois' pension system – and for good reason. It remains chronically underfunded and plagued with issues...

Read moreDetails

Mayor Johnson: Chicago ‘Police Dept. Will Not Ever Cooperate with ICE’

by Illinois Review
July 8, 2025
0
Mayor Johnson: Chicago ‘Police Dept. Will Not Ever Cooperate with ICE’

By Illinois ReviewAt a Tuesday morning press conference at Chicago City Hall, Mayor Brandon Johnson — whose approval rating hovers around six percent — reiterated that local law...

Read moreDetails

Chicago AM560 Axes Local Morning Radio Personality Amy Jacobson, Keeps Florida-based Host in Cost-Cutting Move

by Illinois Review
July 1, 2025
0
Chicago AM560 Axes Local Morning Radio Personality Amy Jacobson, Keeps Florida-based Host in Cost-Cutting Move

By Illinois ReviewIn a shocking cost-cutting move Tuesday, Chicago’s AM560 The Answer terminated longtime morning host Amy Jacobson, as the struggling conservative station grapples with declining relevance –...

Read moreDetails

JB Pritzker Receives 2% in Presidential Poll, Ranks Lowest in Minority Support Among Democrats

by Illinois Review
June 30, 2025
0
JB Pritzker Receives 2% in Presidential Poll, Ranks Lowest in Minority Support Among Democrats

By Illinois ReviewIn one of the first nationwide hypothetical polls for the 2028 Democratic presidential primary, Illinois Governor and billionaire JB Pritzker ranks at the bottom, receiving the...

Read moreDetails
Next Post

Do you trust the political news you're getting?

Please login to join discussion

Best Dental Group

Related News

IL Freedom Caucus calls on Lurie Children’s Hospital to cease gender services for kids

October 27, 2022

Beckman: Is the Brigham Young University racial slur controversy another hoax?

October 27, 2022

Salvi polling shows closer race

October 27, 2022

Browse by Category

  • America First
  • Education
  • Faith & Family
  • Foreign Policy
  • Health Care
  • Illinois News
  • Illinois Politics
  • Opinion
  • Science
  • Second Amendment
  • TRENDING
  • US NEWS
  • US Politics
  • World News
Illinois Review

© 2024 llinois Review LLC Editor in Chief Mark Vargas Publisher Thomas McCullagh Chief Counsel Scott Kaspar

Navigate Site

  • Checkout
  • Home
  • Home – mobile
  • Login/Register
  • Login/Register
  • My account
  • My Account-
  • My Account- – mobile

Follow Us

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Illinois News
  • Illinois Politics
  • US Politics
  • Health Care
  • US NEWS
  • America First
  • Opinion
  • TRENDING
  • Education
  • Foreign Policy
  • Second Amendment
  • Faith & Family
  • Science
  • World News

© 2024 llinois Review LLC Editor in Chief Mark Vargas Publisher Thomas McCullagh Chief Counsel Scott Kaspar

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?