Talk about a one track mind. If they would bump the tax on corporations then more cash would be trapped overseas to invest in foreign jobs. It's amusing that the average blue collar worker is in favor of this - oblivios to the fact that it is exporting U.S. jobs. Half the population has an IQ of under 100 and they can vote.
For some perspective the projected deficit for this year is 1.6 trillion. If the tax rates went back to where they were before the Bush tax cuts for everyone not just the wealthy the deficit would be 1.25 trillion assuming no damage to the economy from a huge tax increase (not realistic). Only 35-40 billion of the additional revenue would come from the top 2% of wage earners. None of this would touch the 61 trillion dollar unfunded liablities in SS and Medicare.
If interest rates rise from their record lows by only 1% it will add $140 billion annually to the deficit. More than the 1 trillion in cuts over 10 years that Biden touted which would only be $100 billion per year.
We are all on the titanic and politicians are merely argueing over the bar tab.
This is a two step problem: 1st get government expenditures to 20% of GDP and then get any additional revenue needed to cover these costs. The dems want to ignore the need to get expenditures back to a long term trend. Revenues up 20% in past ten years while costs up 60%.