Even before California voters have a chance to weigh in this November, the state’s proposed billionaire tax has already helped drive billions (if not trillions) of dollars in wealth and investment elsewhere. Rather than reconsider the approach, Governor Gavin Newsom is now calling for a national wealth tax, arguing the same policy should be exported nationwide.

Meanwhile, the Washington Post reports that progressives increasingly see a genuine opening for a federal wealth tax, believing the political environment has shifted in their favor. At the state level, proposals continue to proliferate, building on Senator Elizabeth Warren’s …

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As we head into the midterms, longtime S-CORP allies David Winston and Myra Miller of The Winston Group joined us to walk through their latest polling on tax policy, spending, and where the voters stand heading into the next big tax fight.

With concerns over debt, deficits, and Social Security’s pending insolvency mounting, the Winston Group’s research suggests Main Street enters the debate from a position of strength, but only if we build a foundation of understanding upon a number of key economic realities.

As we’ve covered before, when voters are …

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One of the narratives Main Street needs to counter is that the tax cuts enacted in 2017 and 2025 are depriving the federal government of necessary revenue. As our friends at the Winston Group make clear in a recent video, revenues from individuals and corporations alike are up sharply, even when inflation is taken into account:

Here’s what they say in the accompanying write-up:

• From 2017 to 2025, revenues to the federal government increased 58%. Inflation increased 31% over that same timeframe, but revenues increased at almost twice the …
  
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S-Corp has argued that fixing Social Security’s pending insolvency will require some creative thinking, including scrapping outdated, harmful wage taxes. They were a bad idea when Social Security was created, and they’re an even worse idea now. It’s an aggressive approach, but given the size of our fiscal challenges, now is the time for aggressive policies.

A recent op-ed by Senators Elizabeth Warren and Bernie Moreno moves in the opposite direction by subjecting all wages to the Social Security tax. It seeks to “fix” the problem of Social Security insolvency the way Congress always has – by throwing more …

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