Tax Warfare :: IBD

Taxes: Congressional Democrats say they want to raise taxes as part of a much bigger effort to redress growing inequality in America. What they really have planned is something else: A war against American capital.

Every American should care. For while the debate revolves around billionaires and what they pay in taxes, it actually involves all of us who own a business, invest in the stock market or, indeed, have jobs.

The new Congress has quietly pushed a series of tax hikes — often without really saying as much — that would raise the cost of capital in the U.S. and make it more expensive to hire labor. They'd also boost the tax bill of the average household by an average $2,000.

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