Top Democrats propose some large tax hikes. But they still have far to go to fund their big plans.

Mr. Neal would raise the corporate tax rate from 21 percent to 26.5 percent — not as high as it was before the Republicans’ 2017 tax cut, but still a substantial hike. The proposal would restore the top 39.6 percent income tax rate, though only on people making more than $400,000 annually, and it would impose a 3 percent surcharge on people making more than $5 million per year. The plan would also make some modest moves to address massive wealth inequality, raising the top capital gains tax rate to 25 percent from its current 20 percent and cutting in half the $23.4 million estate tax exemption, an unjustifiable giveaway to wealthy heirs.