Biden’s High-Earners Tax to Save Medicare Is DOA With the Public

Earlier this week, President Joe Biden announced a budget proposal to increase Medicare taxes on high earners—those making more than $400,000 per year— to fund the program for the foreseeable future. It’s a laudable goal, but his administration is going to have to actually follow through on these policy proposals at some point. Otherwise, they’ll join the 25% proposed tax on billionaires and others on the boulevard of bygone Build Back Better economic packages.

Given the current Congress, any tax on high earners is likely to be a nonstarter. But there are benefits to announcing what you’d like to do ...