Let socialists rob from the rich 100% and you still won’t be able to pay the bills
A Fox News opinion piece uses figures from the libertarian Cato Institute to argue that "tax the rich" policies cannot realistically fund the Democratic Socialists of America's 2026 platform. The author contends that even confiscating the entire wealth of America's 400 richest people, plus seizing all corporate after-tax profits, would still fall well short of covering the estimated cost of proposals such as universal healthcare, free childcare, expanded housing and Social Security, illustrating what the piece frames as a fundamental mismatch between socialist spending ambitions and available revenue.
Cato estimates the nine major DSA proposals could cost between $71 trillion and $212 trillion over a decade, while America's 400 wealthiest individuals held roughly $6.6 trillion in 2025 — covering only about 9% of the low-end estimate if taken entirely. Adding all projected domestic corporate after-tax profits (around $35 trillion) over the next decade would still leave the total at only about half of the $71 trillion figure. The article also cites Joint Committee on Taxation estimates suggesting that pushing top income tax rates to their revenue-maximising level would raise only around $400 billion over ten years, partly because higher rates change taxpayer behaviour, and notes the US already faces roughly $24 trillion in projected deficits over the same period.
- Fox News opinion piece argues "tax the rich" cannot fund socialist policy proposals
- Cato Institute estimates DSA's 2026 platform could cost $71–212 trillion over 10 years
- Seizing all billionaire wealth and corporate profits still wouldn't cover the low estimate