It is still too early to tell who will end up securing the Democratic nomination for the presidential election in 2020, but there is a good chance that the successful candidate will come from the party’s progressive wing and will support higher taxes on the wealthy to fund a significant expansion of Federal spending on social programs. We wouldn’t be surprised if, in response to rising inequality and the loss of well-paid manufacturing jobs, the eventual nominee also supports measures to raise the minimum wage rate and restrict free trade.
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