Bryce Covert, an independent journalist specializing in economics and the economy, is a contributing opinion writer for The New York Times and a contributing writer at The Nation. Previously, she was the Economic Editor at ThinkProgress, an editor of the Roosevelt Institute’s Next New Deal blog, and a contributor at Forbes magazine. (April 2019)
Unlike past election cycles, this time Democrats won’t be content to propose higher tax rates simply as a vehicle for realizing other policy aspirations. Raising taxes has become an end in itself, as a way to radically reorder our economy and even the structure of power. Some Democrats have realized that taxes can be wielded to reduce income inequality and, in the process, take power out of a few private hands and invest it instead in the democratic collective. This marks a dramatic change—and a very necessary one.