This is my nonpartisan take on the swelter of tax-hike proposals bubbling up today from Bernie Sanders, Elizabeth Warren, Kirsten Gillibrand and more. These politicians have their reasons for their levies, like universal child care, which they counterpose against President Trump’s tax cuts on corporations, which they argue has favored the rich. But the debate glides over the fact that these promises and policy preferences sit on top of a mountain of IOUs that politicians have been accumulating for a generation now. I go through the numbers, and implications.
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