At a drive-in campaign rally last week at a union hall in Toledo, Ohio, Joseph R. Biden Jr. asked those in the audience to beep their car horns if they earned more than $400,000 a year. “You’re going to get a tax raise,” he declared as some cars honked.
Mr. Biden, the Democratic presidential nominee, has proposed sweeping tax increases on high earners and large corporations, which various independent forecasting models project would raise around $2.5 trillion or more in revenue over a decade. In a rare case of agreement, both Mr. Biden and his incumbent opponent, President Trump, have sought to elevate those tax plans in the closing weeks of the campaign.
The competing strategies reflect diverging views of how voters respond to tax increases —