If your big idea is dreaming up some new tax that doesn’t impose any political costs on you and yours, then you aren’t serious.

NRPLUS MEMBER ARTICLE S ome people think taxes are too high. Some people think taxes are too low. But I wonder whether most of us could agree that we have enough individual taxes — and maybe too many taxes — irrespective of the question of tax rates.

President Joe Biden, who is and always has been a political coward, is talking about a new “billionaires’ tax” that he pretends he wants to see enacted.  The tax would be economically destructive, would produce little revenue, and is almost certainly unconstitutional in that it would tax imaginary income, treating investment gains as actual income: Imagine being taxed

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