Evan Thomas [Newsweek Editor] has been sayin’ for like a year that BOTH significant tax increases AND significant budget cuts are the ONLY way that we can pull out of this death spiral ... Anyone who says otherwise is LYING !!!
Charles Krauthammer also posits that a 10% VAT might be on the way ...
Volker has said as much.
Anyone who thinks tax increases will help us get out of this is deluded. Taxes are already so high that they're strangling the economy's ability to generate wealth. We need to slash spending and increase revenue by slashing taxes and regulations, and inviting entrepreneurs to impale on a spike anyone who tries to reinstate them.