Laugh if you want, but ultimately we will end up doing what Krugman proposed.
The entire world economy now relies on our printing press.
No one now dares getting in its way.
15 trillion in new taxes equates to $150,000 for each of the hundred million Americans (roughly speaking) who now pay significant taxes. (that’s 0.1 billion times 150 thousand, a thousand billion being a trillion so 0.1 x 150 is 15 of those.
That’s a lot of new taxes there Bernie baby, especially on a gross average income of maybe half that (for the taxpayers).
Bill Gates is going to have to mortgage Microsoft if this is all going to happen.