No, I will not fig leaf this by pretending that having this budget originate with the Congressional Progressive Caucus makes for a meaningful distinction. The CPC has 72 sitting Representatives, and had oversight over half of the standing committees in the last Congress; even in this one they make up 37.5% of the Democratic caucus. Progressives may be a fringe group out there in the larger world, but in the distorted maniacal funhouse reality that Congress operates in they have to be taken seriously.
Which means that their threat to raise taxes has to be taken seriously, too. Jim Pethokoukas (H/T: AoSHQ) assessed the details: killing exist tax cuts, creating 45% to 49% tax brackets for business owners – excuse me: “millionaires and billionaires.” More confiscatory taxes at the highest income levels. And – this is the absolutely perfect detail, and the reason why the Democratic leadership is staring straight ahead, with glassy smiles: “The CPC plan would “allow the 28% and 25% brackets to sunset once the economy is on solid footing, in 2017 and 2019, respectively.” That means higher taxes on families making over $70,000 a year — a big, fat, middle-class tax hike.”
Please remember: not only do these people want to raise your taxes – desperately, eagerly, obsessively raise your taxes – they also never learn better.