The narratives on this topic are hard to pierce through. Economic literacy is low among the public. Politicians take advantage of this to pretend that solving everything is as simple as taxing the people you don’t like (billionaires, corporations, or even completely incorrect narratives about how we’ll use tariffs to make other countries pay us, which we all know is false). These groups are all represented as infinite money wells that just need to be tapped by electing the right person.

This problem is most obvious in UBI discussions. Anyone could use Google to look up the US population and multiply it by their imagined UBI payment amount to see how much it would cost. Yet 9 times out of 10 when I hear someone talking about UBI they have some fanciful ideas about everyone getting $30-40K per year without realizing that the total cost of such a program would be far higher than even our total tax revenues currently. Even if you cut all other social programs and only offered UBI it wouldn’t make a difference. A UBI program that writes large checks to everyone would require tax increases that reached into the middle class.

Yes. Plus, taxing those with higher incomes is hardly “taxing the rich.” After all, the wealthy don’t have incomes; they borrow against their assets.

However, they do fund political campaigns, which is why politicians focus on the “work mules” of social welfare: the top 1% earners who contribute 90% of all welfare benefits. This distraction diverts attention from the “real rich” and the top earners can hardly do anything to address the issue... perfect scapegoat.