To the extent that anyone believes “Sleepy Joe” is concocting policy for his campaign, someone needs to wake him up. Whoever it is that is actually making the policy proposals has put themselves into a difficult corner, one that will wreak havoc on the economy.

Joe Biden seems to want to raise the capital gains tax to 40%. It’s a bad idea, but not too bad. He also wants to increase the corporate income tax to 28%. Another bad idea, but not too bad.