This staple of leftist rhetoric is getting a workout in the campaign, as Harris says that if elected, she will push for tax changes that will, at long last, make the rich pay their fair share.

And here is a well-crafted rebuttal from Timothy Nash and Jason Hayes on the American Institute for Economic Research’s Daily Economy today.

They point out that the tax figures show beyond question that the wealthy already pay a very high percentage of the federal government’s tax take. The Democrats know that’s true, but they won’t admit it because they rely on envious voters not paying any attention to those numbers. They want to pose as champions of the “little guy” even though they aren’t.

Furthermore, Nash and Hayes observe, wealthy people having money to spend leads to product development and improvement that later gives the non-rich enormous benefits.

For example, air-conditioning. Nash and Hayes write:

The growing availability of electricity allowed Willis Carrier, inventor of modern air conditioning, to commercialize its use in 1902. Carrier first developed his “Apparatus for Treating Air” for industry, then wealthy homeowners. The first air conditioners took up an entire room and cost between $10,000 and $50,000 (equivalent to $315,000–$1.6 million in 2024).

Economies of scale have reduced the price to between $5,000 and $10,000 (installed) for a central air conditioning unit. A small window A/C unit can be purchased for well under $200. Today, air conditioning is considered essential.

Would we today have air-conditioning and many other modern conveniences if in the past, the government had taxed the wealthy far more than it did — at levels the “progressives” now demand? No.

If only we could get masses of voters to understand the concept of opportunity costs.