No. of Recommendations: 1
If the problem is resolved by increasing taxes to a higher percentage of GDP to match current expenditures, there would be no guarantee that the government would not simply increase spending further, thereby starting down a path to the next deficit/debt problem. The long-run perspective suggests there can be no permanent solution to the deficit/debt problem until a mechanism can be established that prevents the government from running persistent deficits.”"
I'm wondering when Mr. VAT makes his first trial balloon appearance next year? Once the republicans cave on tax increases and the tax increases don't close the deficit, i'm guessing some dem in a safe seat will float a VAT as a way to be fiscally responsible.
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.