Think Dems’ ‘Tax The Rich’ Policies Will Make America Better Off? Just Take A Look At California
I & I Editorial Board
February 27, 2026
Politicians love nothing more than spending, as our dangerously surging fiscal deficits clearly show. But rather than cut unnecessary spending, which would be the most logical thing, Democrats continue to push the dumbest non-solution for our soaring spending, deficits, and debt: tax the rich.
When asked why he robbed banks, Depression-era bank-robber Willie Sutton reportedly responded: “Because that’s where the money is.”
Funny, but elected Democrats in blue states today deploy the same logic in their growing calls to “tax the rich.”
As CNBC’s Robert Frank recently noted, “A new ‘blue wave’ of tax hikes on the wealthy is rippling through state legislatures, as Virginia, Washington state, Rhode Island and others join California in calls for higher taxes on top earners and billionaires.”
Don’t forget New York. There, a “Tax The Rich” rally on Wednesday in the state’s capital brought heavy backing from unions and far-left Dems, which in the Empire State means the entire Democratic Party.
Their proposal would, the New York Post editorial board notes, end up “socking not just millionaires but even couples making just $500,000, who’d see their taxes rise a whopping 10%. And top earners would face a top rate of 24% — the highest not just in America but the world.“
And, of course, California is now discovering, to its shocked regret, that super-smart and ultra-mobile rich people and entrepreneurs don’t sit still to let their income and wealth be stripped off them by greedy leftist politicians.
No, they leave, taking their wealth, taxes, companies, and, most importantly, high-paying jobs with them.
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https://issuesinsights.com/2026/02/27/think-dems-tax-the-rich-policies-will-make-america-better-off-just-take-a-look-at-california/
