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Biden Defends Plans to Tax the Rich

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“Ultimately, his political standing is judged by the health and well-being of the economy,” said Josh Holmes, a political adviser to Senator Mitch McConnell of Kentucky, the Republican leader. “What he’s talking about from a tax perspective is administration-assisted suicide.”But Mr. Holmes agreed that, at least in the short term, Mr. Biden was making a winning political calculation. “He’s right that corporate tax increases are not unpopular,” Mr. Holmes said. But the political calculus for Republicans is that the policies themselves will prove unpopular with American voters by the midterm elections because of their effect on workers …

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