Tax Notes Talk
A Conservative Case for Taxing the Rich: Lessons From History
Feb 14, 2025
Joseph J. Thorndike, a Tax Notes contributing editor and historian, explores the conservative case for taxing the rich, drawing connections to President Trump’s concept of 'the forgotten man.' He examines the term's historical evolution and its reinterpretation in modern politics. Thorndike delves into the complexities of tax reform, advocating for closing loopholes and widening the tax base. He also discusses the challenges of progressive taxation amidst resistance from powerful taxpayers, highlighting the ongoing need for fair and effective tax policies.
27:36
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Quick takeaways
- The historical context of 'the forgotten man' reveals the evolving political narrative around taxation and the responsibility towards economic equity.
- Roswell McGill's advocacy for a fair taxation system highlights the importance of addressing tax loopholes to maintain government revenue and fiscal accountability.
Deep dives
The Historical Roots of the Forgotten Man
The phrase 'the forgotten man' has deep historical roots and has been co-opted by various political figures over the years, most notably by President Trump. Originally popularized by Franklin D. Roosevelt during his first campaign, it was first used by sociologist William Graham Sumner in the late 19th century to articulate a conservative view that the undeserving poor burden the 'working man.' This phrase has morphed in its usage, shifting between conservative and liberal ideologies, highlighting the ongoing struggle for its control in political discourse. Roosevelt’s invocation aimed to identify those at the bottom of the economic pyramid as essential to America's recovery, in stark contrast to Sumner's exclusionary perspective.
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