Economy and taxes: Arguments, Evidence and Where Politicians Stand
Taxes, spending, prices, trade, wages and labor.
Overview
Economic policy covers how the government taxes and spends, how it regulates business and trade, and how it supports workers and families.
Key questions include who should pay more or less in taxes, how large the safety net should be, how high the minimum wage should be, and how strong union protections should be. Trade divides both parties: some on the right and the left favor tariffs to protect industry, while others say tariffs raise prices.
The main sides
Those favoring lower taxes and lighter regulation argue
Lower taxes and fewer rules encourage investment, hiring and growth, and money is generally spent best by the people who earn it.
Those favoring higher taxes on top earners and more public spending argue
Asking the wealthiest to pay more can fund public services and reduce inequality, and markets need rules that protect workers and consumers.
Test statements on this issue
- Taxes on the highest incomes should be raised to fund public services.
- Cutting taxes is generally better for the economy than increasing public spending.
- Large inheritances should not be heavily taxed.
- Reducing the gap between rich and poor should be a major government goal.
- Welfare benefits should be kept limited so that people have strong incentives to work.
- The government should guarantee a basic standard of living for everyone.
- Tariffs can be justified to protect domestic industries.
- Trade policy should prioritize consumer choice over domestic industrial protection.
- Raising the minimum wage significantly would do more harm than good.
- The government should regulate companies that dominate entire markets.
- Regulations on business should be minimized whenever possible.
- Workers should have strong legal protections to form and join labor unions.
- Paid sick leave and paid parental leave should be guaranteed by law.
- Industrial policy should be used to build domestic manufacturing capacity.
- Retirement savings should be held in private accounts rather than a government pension system.
How ideologies line up
Average estimated answer of each ideology model to the statements above (−100 to +100).
Where 2026 candidates stand
- Troy Jackson (D, Maine Senate): Would raise taxes on billionaires and large corporations, including lifting the Social Security payroll cap. source
- Troy Jackson (D, Maine Senate): Backs the PRO Act to make it easier to form unions; extended bargaining rights to loggers and haulers in Maine. source
- Troy Jackson (D, Maine Senate): Argues the Trump tariffs are raising costs for Mainers. source
- Troy Jackson (D, Maine Senate): Voted to raise Maine's minimum wage to $15 with cost-of-living increases. source
- Susan Collins (R, Maine Senate): Opposes parts of the Trump tariffs and sought exemptions for Maine products; voted with Democrats to end tariffs on Canadian goods. source
- Susan Collins (R, Maine Senate): Voted for the 2017 tax cuts but against extending them in 2025. source
- Susan Collins (R, Maine Senate): Introduced a bill to raise the federal minimum wage to $11 by 2028, indexed to inflation. source
- Susan Collins (R, Maine Senate): Voted to restore federal employees' bargaining rights and sponsored a bill to undo Trump's order limiting them. source
- Sherrod Brown (D, Ohio Senate (special)): Says billionaires should pay their fair share in taxes. source
- Sherrod Brown (D, Ohio Senate (special)): Has called for reversing the 2017 tax cuts that favored corporations. source
- Sherrod Brown (D, Ohio Senate (special)): Says tariffs can work when they are well designed to protect workers. source
- Sherrod Brown (D, Ohio Senate (special)): Supports raising the federal minimum wage to $15. source
Legislation
Articles
- Tariffs after the Supreme Court: what changed and what you're paying
- Gas, diesel and the $8 billion farm aid: the Iran war hits wallets
- The December 11 deadline: shutdown risk, SNAP and the farm bill
Open the interactive issue hub to see community discussions and compare with your own answers.