All the Democratic presidential candidates appear to agree that taxes must go up.
We have been here before. Bill Clinton promised tax cuts in 1992 and then supported increases. Democrats in Congress supported Clinton’s tax hikes just as they had voted for the 1990 tax increases.
The result? Democrats lost almost one-quarter (63 seats) of their House caucus in the elections for the 103rd and 104th Congress. The Republican president that proposed the 1990 increases lost two years later.
The current group of Democratic presidential contenders may have forgotten this history lesson. I suspect congressional Democrats running next year will remember it.