March 26, 2026

Dems Can’t Get Enough of Your Money

As Democrats nationwide scheme about how to raise taxes, the Associated Press thinks they’ve begun to love tax cuts.

The only thing Democrats love more than hearing themselves talk might just be taxes. They want more of your money so they can give it to their constituents through some new or bolstered government program. Besides the scourge of “fascism,” the only problem seemingly facing our nation is that Democrat programs are “underfunded.”

How can that be? Writing about Democrats’ insatiable appetite for your money, The Wall Street Journal’s editorial board says, “Total tax revenue across the 50 states increased 43% between 2019 and 2025, twice as much as inflation.”

So you’ll understand if I laughed out loud when reading this Associated Press headline: “How Democrats learned to stop worrying and love tax cuts.”

It’s too early for April Fool’s Day, I thought. What gives?

Well, it turns out that Democrats’ novel idea isn’t to cut taxes at all. It’s just exempting even more people from the federal income tax (or state income taxes, in some cases). About 40% of Americans already don’t pay a dime of federal income tax, and a few Democrats want to raise exemptions to a level that ensures even fewer Americans have “skin in the game.”

The AP reports:

Sen. Chris Van Hollen of Maryland proposes effectively ending the federal income tax on individuals making $46,000 or less annually and reducing it for individuals making up to about $60,000 more than that amount. New Jersey Sen. Cory Booker wants to ensure households pay no income tax on the first $75,000 of earnings.

It’s an early sign that Democrats are trying to revamp their reputation by taking a page from the playbook of President Donald Trump, who stormed back to the White House with soundbite-friendly promises for things like “no tax on tips” and “no tax on overtime.”

But the plans could also undermine Democrats’ other goals, taking large pots of money off the table that could cover the cost of reversing Trump’s tax cuts for the wealthy or restoring funding to Medicaid. They would also limit funding for new initiatives that Democrats inevitably promise on the campaign trail.

Uh, “Trump’s tax cuts for the wealthy”?

In 2017, President Donald Trump and the Republican Congress — without a single Democrat vote — cut all rates, meaning that if you pay federal income taxes, you pay a smaller percentage than you used to. Last year, Trump and Republicans — without a single Democrat vote — made those lower rates permanent. Now, millions are benefiting from the current refund windfall.

The AP must have forgotten to report that Booker wants to raise the top rate from 37% to 43%. Van Hollen wants to raise it to 49%. That would be a massive tax increase on small business owners who pay those rates.

While the AP carries water for the Democrats, let’s turn to The Wall Street Journal’s news division.

“Republican-led states are racing each other to flatten, cut and eliminate individual income taxes, with 23 states lowering their top income-tax rates since 2021,” reports the Journal. “Democratic-controlled states are moving the opposite way, pushing to increase taxes on top earners.”

Nine Republican states cut their top marginal rate in the last year. Several Democrat states, by contrast, have either raised rates or are considering that or other schemes. A “millionaires” tax is a favorite for the class-obsessed Left. And taxpayers are voting with their feet by moving away from those states. In Massachusetts, Democrats implemented a wealth tax, and 41,000 political refugees took $4.2 billion in income with them to avoid it.

That’s what leads to embarrassing pleas like the one from New York Democrat Governor Kathy Hochul: “I need people who are high net worth to support the generous social programs that we want to have in our state.”

California Democrat Governor Gavin Newsom opposes his party’s proposed wealth tax in the Golden State because even more people will leave.

Undeterred by reality, Massachusetts Democrat Senator Elizabeth Warren is pushing the Ultra-Millionaire Tax Act of 2026. CBS News reports that it “would impose an annual 2% tax on the net worth of households and trusts over $50 million, and an additional 1% tax on the wealth of billionaires.” A federal tax won’t cause people to move between states, but what about leaving the country? CBS notes, “To deter the ultra-rich from leaving the U.S. to avoid the new tax, the bill also proposes a 40% ‘exit tax’ on anyone worth more than $50 million who renounces their American citizenship.”

Oh.

Warren claims the tax would raise $6.2 trillion in a decade — 50% more than the $4.4 trillion Bernie Sanders wants. “My bill is about basic fairness and making the ultra-wealthy pay their fair share,” she said. “It’s time for the government to stop listening to the richest of the rich and start working for working people.”

By stealing from the rich and giving to the poor, I suppose. By punishing success and, in many cases, rewarding failure. Never mind the personal wealth of so many members of Congress.

Would Democrats use this supposed windfall to balance the budget or pay down the national debt, which just topped $39 trillion? Not on your life. They have big dreams for how they can spend your money better than you can.

Pramila Jayapal, lead sponsor of the House version of Warren’s bill, says the tax would provide “trillions of dollars in health care, schools, clean energy, housing, and more to improve lives in communities across America.” That’s false advertising. If Washington hasn’t solved all those problems with the trillions it already confiscates every year, it won’t solve those problems with a bigger chunk of money.

A quarter-millennium ago, American colonists threw off their British overlords largely because of exorbitant taxes. Democrats say “no kings,” but they want to confiscate your money like one.

Follow Nate Jackson on X.

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