economy grew faster during periods when taxes at the top were relatively high than it did when they were low. If anything, the historical correlation runs the other way. And theyвЂ™re very much in the American tradition.ДЄbout the economics: Although the modern Republican Party is utterly committed to the proposition that low taxes on corporations and the rich are the key to economic success, there is no evidence that this is true.

But there are three things you should know about both taxing the rich and helping children: TheyвЂ™re very good ideas from an economic point of view. Republicans will, of course, denounce whatever Democrats come out with. And action on climate change can, reasonably, be considered another way of helping future generations. This gets at much of what the legislation is likely to do: Reporting suggests that the final bill will include taxes on billionairesвЂ™ incomes and minimum taxes for corporations, along with a number of child-oriented programs. So let me propose a one-liner: Tax the rich, help AmericaвЂ™s children. To be fair, though, the Biden administration could have done a better job of summarizing its plans in pithy slogans. controlled Congress, we would be doing nothing at all to invest in AmericaвЂ™s future.Д«ut what will the plan do? Far too much reporting has focused mainly on the headline spending number - $3.5 trillion, no, $1.5 trillion, whatever - without saying much about the policies this spending would support. It will, however, be infinitely bigger than what Republicans would have done, because if the G.O.P. It will clearly be smaller than President BidenвЂ™s original proposal, and much smaller than what progressives wanted. Democrats may - may - finally be about to agree on a revenue and spending plan.

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