Progressive liberals want the social safety net programs that the Scandinavian countries enjoy, but they want the wealthy to pay for it, which is totally unrealistic. Those countries pay for their gov't service with a tax system that everybody pays into; they pay what is essentially a 25% consumption tax and everybody also pays income taxes no matter what their income was. Everybody. In the past, several countries have raised the income tax rates on the rich up to around 80%, expecting to get enormous revenue increases that they can spend on social programs. But the problem was that the rich people said **** you we ain't paying that high tax rate and they sold out, packed up, and moved elsewhere. That actually happened, we ain't talking about theory here. And the result was the enormous revenue increases didn't happen and economic growth went down the drain cuz investments cratered.
Bottom line: you just can't expect the rich to cover the national deficits, it ain't gonna happen. I do think the democrats will try to raise taxes on the wealthy if and when they take control of Congress and the WH, and they'll spend that expected revenue of their political agenda stuff. But they won't get nearly the increased revenue and the national debt will go up bigly.
