Biden’s Plan to Transform the Economy by Taxing the Rich Is Already Winning Over Americans

Even some Republicans!

Jim Watson/ZUMA

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.

Unable to resort to the party’s typical racist and sexist dog-whistles, Republicans have been struggling to land an effective line of attack against President Joe Biden, who in his first 100 days in office, has proven to be quite popular with the American public. But one unified criticism that has emerged, particularly after Biden’s first joint address to Congress this week, is that the new president is engaged in a wild and reckless spending spree.

“He’s spending like crazy,” Sen. Mitt Romney (R-Utah) warned. “It has the potential of jeopardizing our kids’ future and socking us with decades of interest costs.” In presenting the official Republican response to Biden’s address, Sen. Tim Scott (R-S.C.) argued, “Even more taxing, even more spending to put Washington even more in the middle of your life.” Scott also mocked Biden’s American Families Plan as a form of “big government waste” and accused the president of promoting a divisive agenda that could “tear us apart.”

Such complaints against big government spending, of course, are time-honored talking points for Republicans, and a new poll shows that Americans are increasingly unconvinced by the GOP’s complaints. In fact, Biden’s spending proposals appear to be winning by a landslide. According to a Reuters/Ipsos survey released on Friday, the various proposals at the center of Biden’s economic plan—including tax hikes for the wealthy and bulking up IRS audits for high earners—all polled at over 60 percent. The most popular measure by far, paid family and medical leave, had the backing of an overwhelming 69 percent of Americans polled. Overall, 73 percent of those polled approved of Biden’s plans for the economy.

Though the responses split across party lines, Reuters reports that there was some considerable dissonance among Republicans polled. One notable break was the view on “trickle-down economics”—the discredited economic theory popularized by former president Ronald Reagan that argues tax breaks for the very wealthy will trickle down to the middle class and poor people—with four in 10 agreeing with Biden’s claim this week that it’s a failed theory. In any event, it appears that Republicans will have to go back to the drawing board if they want to identify a real threat to Biden’s popularity. If Biden’s American Families Plan becomes reality, as Paul Krugman writes this week, that task will be even more urgent, since it’s highly unlikely that Americans will be willing to part with critical social benefits so much of the rest of the world gets to take for granted. 

AN IMPORTANT UPDATE

We’re falling behind our online fundraising goals and we can’t sustain coming up short on donations month after month. Perhaps you’ve heard? It is impossibly hard in the news business right now, with layoffs intensifying and fancy new startups and funding going kaput.

The crisis facing journalism and democracy isn’t going away anytime soon. And neither is Mother Jones, our readers, or our unique way of doing in-depth reporting that exists to bring about change.

Which is exactly why, despite the challenges we face, we just took a big gulp and joined forces with the Center for Investigative Reporting, a team of ace journalists who create the amazing podcast and public radio show Reveal.

If you can part with even just a few bucks, please help us pick up the pace of donations. We simply can’t afford to keep falling behind on our fundraising targets month after month.

Editor-in-Chief Clara Jeffery said it well to our team recently, and that team 100 percent includes readers like you who make it all possible: “This is a year to prove that we can pull off this merger, grow our audiences and impact, attract more funding and keep growing. More broadly, it’s a year when the very future of both journalism and democracy is on the line. We have to go for every important story, every reader/listener/viewer, and leave it all on the field. I’m very proud of all the hard work that’s gotten us to this moment, and confident that we can meet it.”

Let’s do this. If you can right now, please support Mother Jones and investigative journalism with an urgently needed donation today.

payment methods

AN IMPORTANT UPDATE

We’re falling behind our online fundraising goals and we can’t sustain coming up short on donations month after month. Perhaps you’ve heard? It is impossibly hard in the news business right now, with layoffs intensifying and fancy new startups and funding going kaput.

The crisis facing journalism and democracy isn’t going away anytime soon. And neither is Mother Jones, our readers, or our unique way of doing in-depth reporting that exists to bring about change.

Which is exactly why, despite the challenges we face, we just took a big gulp and joined forces with the Center for Investigative Reporting, a team of ace journalists who create the amazing podcast and public radio show Reveal.

If you can part with even just a few bucks, please help us pick up the pace of donations. We simply can’t afford to keep falling behind on our fundraising targets month after month.

Editor-in-Chief Clara Jeffery said it well to our team recently, and that team 100 percent includes readers like you who make it all possible: “This is a year to prove that we can pull off this merger, grow our audiences and impact, attract more funding and keep growing. More broadly, it’s a year when the very future of both journalism and democracy is on the line. We have to go for every important story, every reader/listener/viewer, and leave it all on the field. I’m very proud of all the hard work that’s gotten us to this moment, and confident that we can meet it.”

Let’s do this. If you can right now, please support Mother Jones and investigative journalism with an urgently needed donation today.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate