Many of us suspected as much, and now the proof: for every extra dollar of "revenue enhancement" the government gains, it spends anywhere from $1.05 to $1.81, depending on the model used. Why is this important now? Slide 22 of the Co-Chairs' Proposal of the National Commission on Fiscal Responsibility and Reform urges that our politicians "Lower Rates, Simplify the Code, and Broaden the Base" (read "increase taxes"). In addition, Alice Rivlin, a commission member, has her own plan, which would impose a 6.5% national sales tax.I have lost track of how many news articles and op eds and editorials I have seen hailing the work of the National Commission on Fiscal Responsibility and Reform as "bold" or "innovative." (Should anyone doubt the bona fides of that august body, "bi-partisan" is festooned all over the official website.) What is "bold" about increasing the retirement age to 69 by 2075 (see Slide 45 of the...(Read Full Post)