PrintApril 7, 2010
Laff It Up, Tax-Lovers
The national debt problem has become so apparent that it is recognized even in San Francisco now. Would raising taxes help?In January 2009, I wrote, "We have less than 10 years to get our mess straightened out." Here is what the San Francisco Chronicle reported fifteen months later, on April 5, 2010.In my judgment, a crisis could occur next week or 10 years from now," said Rudolph Penner, an Urban Institute economist who co-chaired a huge budget report sponsored by the National Academy of Sciences and the National Academy of Public Administration. "I don't really think we can go much beyond 10 years. They should have called me.But how do we solve this problem? Can't cut Medicare; we don't want Grandpa to die. Can't cut Social Security; we don't want Grandpa eating dog food. Can't cut interest payments; Grandpa needs to cash in his government bonds every so often to afford his utility bills. And within those critical ten years, I become...(Read Full Article)
