Biden and Trump Offer Competing Tax Proposals, but Both Ignore Economic Reality

In a world in which economic reality mattered to politicians, grandiose spending plans coupled with soaring government debt would pretty much preordain grim tax policy. But we don't live in that world. In ours, tax and spending proposals are crafted based on their appeal to target audiences of voters, with no regard for balancing books or averting financial catastrophe.

With that in mind, it's clear that there are significant differences between the plans that Donald Trump and Joe Biden harbor for our money. Basically, Trump plans to steal less of other people's cash then Biden does, though neither has any serious suggestions for paying for their spending schemes.