Opinion

Despite AOC’s infamous dress, Democrats are getting cold feet on actually taxing the rich

Despite the slogans, the polling and even the infamous white ballgown, Democrats appear to be getting cold feet on “taxing the rich.”

The Democratic Party has repeatedly pledged to make the rich pony up. Their pledge is partly about fairness: Massive income and wealth gains have accrued to the tippy-top over recent decades, while effective tax rates for this same population have fallen. It’s also partly about fiscal responsibility: The party wants to pay for safety net and climate investments, so, like Willie Sutton, they’re going where the money is.