Big Spenders Go Global
. . . In the United States, Andrew Biggs of the American Enterprise Institute calculates that if the federal government were to increase every single tax by 30 per cent it would be enough to balance the books—in 25 years. Except that it wouldn’t. Because if you raised taxes by 30 per cent, government would spend even more than it already does, on the grounds that the citizenry needed more social programs and entitlements to compensate for their sudden reduction in disposable income.
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